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Freddie Mac Prices New $4 Billion Two-Year Reference Notes® Security

McLean, VA – Freddie Mac (NYSE: FRE) announced today that it priced its new 2.875% $4 billion two-year USD Reference Notes® security due on November 23, 2010. The issue, CUSIP number 3137EABV0, was priced at 99.858 to yield 2.943%, or 125 basis points more than two-year U.S. Treasury Notes. Due to strong investor interest, the issue was increased from $3 billion to $4 billion. The issue will settle on Friday, October 10, 2008.

The new two-year Reference Notes security was offered via a syndicate of dealers headed by Citigroup Global Markets, Inc., J.P. Morgan Chase and Morgan Stanley. An application was made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange.

Including today's offering, Freddie Mac has issued $48 billion of Reference Notes securities during 2008 and has approximately $259 billion in Reference Notes and Reference Bonds® securities outstanding.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's proxy statement, its Registration Statement on Form 10 dated July 18, 2008 and all documents that Freddie Mac files with the Securities and Exchange Commission (“SEC”) pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934.

Freddie Mac's press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company's Registration Statement on Form 10 dated July 18, 2008 and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors and the SEC's Web site at www.sec.gov.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac raises capital on Wall Street and throughout the world's capital markets to finance mortgages for families across America. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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