FREDDIE MAC PRICES TENDER OFFERS OF DEBT SECURITIES WITH EXPIRED OPTIONS

McLean, VA – Freddie Mac (NYSE: FRE) today announced that it priced approximately $3.5 billion of tendered European-style callable debt securities with expired options. The tender offer period closed at 10 a.m. EST, on Friday, November 17, 2006. Any updates to the results of the tender offers will be available on Freddie Mac’s Debt Securities Web page at www.FreddieMac.com/debt/auctionrepurch/tenders1106.html.

The offers were priced for settlement on Tuesday, November 21, 2006 as determined in the manner described in the Offer to Purchase [PDF 116K] dated November 10, 2006, by reference to the applicable fixed spread (listed below) over the yield to maturity of the Reference Security (listed below), plus an amount equal to any accrued and unpaid interest to but excluding the date of payment of the purchase price.

CUSIP / ISIN	Title of Security	Reference Security	Preliminary Principal Amount Tendered	Fixed Spread (bps)	Reference Yield	Tender Offer Yield	Purchase Price per $1,000 Principal Amount	Accrued Interest per $1,000 Principal Amount
3128X0C64/ US3128X0C645	3.500% Debt Securities due February 13, 2008	5.125% Reference Notes due April 18, 2008	$2,547,000	7.5	5.044%	5.119%	$980.91	$9.53
3128X0L31/ US3128X0L315	3.250% Debt Securities due February 25, 2008	5.125% Reference Notes due April 18, 2008	$21,374,000	5.3	5.044%	5.097%	$977.66	$7.76
3128X3XX6	3.500% Medium-Term Notes due March 24, 2008	5.125% Reference Notes due April 18, 2008	$18,565,000	3.3	5.044%	5.077%	$979.75	$5.83
3128X03N7/ US3128X03N79	3.500% Debt Securities due April 1, 2008	5.125% Reference Notes due April 18, 2008	$45,878,000	2.1	5.044%	5.065%	$979.62	$4.86
3128X1ED5	3.000% Medium-Term Notes due May 13, 2008	5.125% Reference Notes due April 18, 2008	$30,410,000	1.2	5.044%	5.056%	$971.07	$0.67
3128X3K93	3.600% Medium-Term Notes due May 22, 2008	5.125% Reference Notes due April 18, 2008	$60,612,000	0.5	5.044%	5.049%	$979.28	$17.90
3128X36N8/ US3128X36N88	4.300% Debt Securities due September 24, 2008	5.000% Reference Notes due September 16, 2008	$1,503,000	2.6	4.962%	4.988%	$987.98	$6.81
3128X4RC7/ US3128X4RC71	4.750% Debt Securities due October 17, 2008	5.000% Reference Notes due September 16, 2008	$336,109,000	1.4	4.962%	4.976%	$995.89	$4.49
3128X4ST9/ US3128X4ST97	4.900% Debt Securities due November 3, 2008	5.000% Reference Notes due September 16, 2008	$314,989,000	0.0	4.962%	4.962%	$998.83	$2.45
3128X16N2/ US3128X16N25	3.875% Debt Securities due November 10, 2008	5.000% Reference Notes due September 16, 2008	$16,725,000	0.8	4.962%	4.970%	$979.68	$1.18
3128X2ME2/ US3128X2ME27	3.875% Debt Securities due January 12, 2009	5.000% Reference Notes due September 16, 2008	$98,385,000	(1.3)	4.962%	4.949%	$978.38	$13.89
3128X2P90/ US3128X2P908	3.755% Debt Securities due March 18, 2009	5.000% Reference Notes due September 16, 2008	$3,489,000	(1.1)	4.962%	4.951%	$973.98	$6.57
3128X3SL8/ US3128X3SL88	4.375% Debt Securities due July 30, 2009	4.750% Reference Notes due November 3, 2009	$47,517,000	4.1	4.879%	4.920%	$986.35	$13.49
3128X3VA8/ US3128X3VA86	4.125% Debt Securities due September 1, 2009	4.750% Reference Notes due November 3, 2009	$19,672,000	3.9	4.879%	4.918%	$979.58	$9.17
3128X3WY5/ US3128X3WY53	4.000% Debt Securities due September 22, 2009	4.750% Reference Notes due November 3, 2009	$228,196,000	3.9	4.879%	4.918%	$975.92	$6.56
3128X3K85/ US3128X3K857	4.125% Debt Securities due November 18, 2009	4.750% Reference Notes due November 3, 2009	$8,965,000	3.0	4.879%	4.909%	$978.43	$0.34
3128X33F8/ US3128X33F81	4.375% Debt Securities due January 25, 2010	4.750% Reference Notes due November 3, 2009	$10,249,000	3.3	4.879%	4.912%	$984.32	$14.10
3128X34V2/ US3128X34V23	4.240% Debt Securities due February 22, 2010	4.750% Reference Notes due November 3, 2009	$130,000	4.1	4.879%	4.920%	$979.72	$10.48
3128X34W0/ US3128X34W06	4.250% Debt Securities due February 24, 2010	4.750% Reference Notes due November 3, 2009	$650,000	4.2	4.879%	4.921%	$979.96	$10.27
3128X35R0/ US3128X35R02	4.375% Debt Securities due March 1, 2010	4.125% Reference Notes due July 12, 2010	$51,845,000	4.0	4.873%	4.913%	$983.83	$9.72
3128X4DQ1/ US3128X4DQ14	4.500% Debt Securities due July 6, 2010	4.125% Reference Notes due July 12, 2010	$351,208,000	3.1	4.873%	4.904%	$986.68	$16.88
3128X4EL1/ US3128X4EL18	4.625% Debt Securities due July 28, 2010	4.125% Reference Notes due July 12, 2010	$51,895,000	3.2	4.873%	4.905%	$990.60	$14.52
3128X4GL9/ US3128X4GL99	4.790% Debt Securities due August 4, 2010	4.125% Reference Notes due July 12, 2010	$178,760,000	3.3	4.873%	4.906%	$996.05	$14.24
3128X4KF7/ US3128X4KF75	4.750% Debt Securities due September 22, 2010	4.125% Reference Notes due July 12, 2010	$75,827,000	3.6	4.873%	4.909%	$994.44	$7.78
3128X4QK0/ US3128X4QK07	5.000% Debt Securities due October 18, 2010	4.125% Reference Notes due July 12, 2010	$396,472,000	3.3	4.873%	4.906%	$1,003.26	$4.58
3128X2EV3/ US3128X2EV34	4.750% Debt Securities due December 8, 2010	5.250% Reference Notes due July 18, 2011	$343,919,000	0.1	4.881%	4.882%	$995.18	$21.51
3128X2HT5/ US3128X2HT50	4.500% Debt Securities due December 16, 2010	5.250% Reference Notes due July 18, 2011	$31,919,000	1.1	4.881%	4.892%	$985.66	$19.38
3128X2ZQ1/ US3128X2ZQ10	4.125% Debt Securities due February 24, 2011	5.250% Reference Notes due July 18, 2011	$21,885,000	1.1	4.881%	4.892%	$970.77	$9.97
3128X3K69/ US3128X3K691	4.500% Debt Securities due November 15, 2011	5.250% Reference Notes due July 18, 2011	$100,419,000	2.2	4.881%	4.903%	$982.36	$0.75
3128X4DM0/ US3128X4DM00	4.750% Debt Securities due June 28, 2012	5.250% Reference Notes due July 18, 2011	$13,610,000	3.2	4.881%	4.913%	$992.05	$18.87
3128X1EJ2	4.250% Medium-Term Notes due May 22, 2013	4.875% Reference Notes due November 15, 2013	$54,404,000	0.6	4.893%	4.899%	$964.23	$21.13
3128X1KG1/ US3128X1KG10	4.000% Debt Securities due June 12, 2013	4.875% Reference Notes due November 15, 2013	$276,540,000	(0.4)	4.893%	4.889%	$950.60	$17.67
3128X3L76/ US3128X3L764	5.000% Debt Securities due November 13, 2014	5.000% Reference Notes due July 15, 2014	$308,373,000	3.5	4.876%	4.911%	$1,005.80	$1.11
Total			$3,523,041,000

This announcement is neither an offer to sell nor a solicitation of offers to buy any of these securities. Neither Freddie Mac, nor the dealer managers made any recommendation that any holder of the securities tender or refrain from tendering all or any portion of the principal amount of such holder's securities. Holders must make their own decisions whether to tender securities, and if so, decide on the principal amount of securities to tender. Freddie Mac's securities are obligations of Freddie Mac only. The securities, including any interest or return of discount on the securities, are not guaranteed by and are neither debts nor obligations of the United States or any federal agency or instrumentality other than Freddie Mac. The tender offers were made only upon the terms and subject to the conditions set forth in the Offer to Purchase dated November 10, 2006.

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.

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