Freddie Mac Announces Tender Offers for Freddie SUBS®

For Immediate Release

July 10, 2009
Contact: corprel@freddiemac.com
or (703) 903-3933

McLean, VA – Freddie Mac (NYSE: FRE) today announced that it will conduct cash tender offers (each, an "Offer" and, collectively, the "Offers") for the purchase of any and all of its Freddie SUBS® (the "Target Securities") during the week of July 13, 2009.

Freddie Mac will offer to purchase from investors for cash the Target Securities through Goldman, Sachs & Co., the designated lead dealer manager for the Offers, and Banc of America Securities LLC and Citigroup Global Markets Inc., the designated dealer managers for the Offers. Freddie Mac is offering to purchase any and all of the Target Securities listed in the table below. Each series of Target Securities will be purchased at the applicable fixed spread over the bid-side yield of the applicable reference security for such series of Target Securities.

The tender offer period will commence on Monday, July 13, 2009, at 9 a.m., New York City time and expire at 5 p.m., New York City time on Friday, July 17, 2009, unless extended. Holders of the Target Securities wishing to submit orders to tender may do so by calling the dealer managers at any time between 9 a.m. and 5 p.m. New York City time during the tender offer period. Target Securities will be purchased at prices determined on Monday, July 20, 2009 at approximately 9 a.m., New York City time. Results of the Offers will be available on Freddie Mac's Debt Securities Web page at www.FreddieMac.com/debt on Monday, July 20, 2009. The Target Securities purchased will settle on July 21, 2009 (the "Settlement Date"). Each proper tender of Target Securities with respect to an Offer will be irrevocable, and there are no withdrawal rights with respect to an Offer.

The table below sets forth the fixed spread and the reference security to be used to determine the purchase price for each series of Target Securities tendered pursuant to the applicable Offer. The purchase price will be determined in the manner described in the Offer to Purchase to be dated July 13, 2009, by reference to the applicable fixed spread (listed below) over the bid-side yield of the applicable reference security, plus an amount equal to any accrued and unpaid interest to, but excluding, the Settlement Date.

CUSIP/ISIN	Title of Security	Principal Amount Outstanding	Fixed Spread (bps)	Reference Security
3134A4EW0/ US3134A4EW03	5.875% Freddie SUBS Due March 21, 2011	$1,090,044,000	100	1.125% U.S. Treasury Due June 30, 2011
3134A4ZY3/ US3134A4ZY30	5.75% Freddie SUBS Due June 27, 2016	1,250,000,000	125	3.25% U.S. Treasury Due June 30, 2016
3134A4ZZ0/ US3134A4ZZ05	5.00% Freddie SUBS Due December 14, 2018	2,048,608,000	125	3.125% U.S. Treasury Due May 15, 2019
Total		$4,388,652,000

This announcement is neither an offer to sell nor a solicitation of offers to buy any of the Target Securities. Neither Freddie Mac, nor the dealer managers, nor the Information Agent make any recommendation that any holder of the Target Securities tender or refrain from tendering all or any portion of the principal amount of such holder's Target Securities. Holders must make their own decisions whether to tender any Target Securities, and if so, decide on the principal amount of the Target Securities to tender. Freddie Mac's securities are obligations of Freddie Mac only. The Target 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 Offers are being made only upon the terms and subject to the conditions set forth in the Offer to Purchase to be dated July 13, 2009.

On or after July 13, 2009, copies of the Offer to Purchase may be obtained on Freddie Mac's Web site at www.FreddieMac.com/debt or from the Information Agent for the Offers, Global Bondholders Services Corporation at (866) 952-2200.

Questions regarding the Offers may be directed to Goldman, Sachs & Co. at (800) 828-3182, Banc of America Securities LLC at (888) 292-0070, or Citigroup Capital Markets Inc. at (800) 558-3745.

This announcement does not constitute an invitation to participate in the Offers in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such Offer under applicable securities laws or otherwise.

The distribution of materials relating to the Offers, and the transactions contemplated by the Offers, may be restricted by law in certain jurisdictions where it is legal to do so. The Offers are void in all jurisdictions where it is prohibited. If materials relating to the Offers come into your possession, you are required by Freddie Mac to inform yourself of and to observe all of these restrictions. The materials relating to the Offers do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the Offers be made by a licensed broker or dealer and a dealer manager or any affiliate of a dealer manager is a licensed broker or dealer in that jurisdiction, the Offers shall be deemed to be made by the dealer manager or such affiliate on behalf of Freddie Mac in that jurisdiction.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the United States by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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