Freddie SUBS® Credit Ratings
As of November 5, 2008

In order to provide investors with an independent assessment of credit risk, each issue of Freddie SUBS securities is publicly rated by Moody's Investors Service, Inc., Standard & Poor's Credit Market Services, a division of The McGraw-Hill Companies, Inc. and Fitch Ratings, Inc.

Freddie SUBS securities are currently rated

• Aa2 by Moody's
• A by Standard & Poor's
• AA- by Fitch

Freddie Mac has the following additional ratings

• Freddie Mac's senior long-term debt is rated Aaa by Moody's and AAA by Standard & Poor's and Fitch.
• Freddie Mac's senior short-term debt is rated A-1+ by Standard &Poor's,
  Prime-1 by Moody's and F1+ by Fitch.
• Freddie Mac's preferred stock is rated Ca by Moody's, C by Standard & Poor's and C/RR6 by Fitch.
• Freddie Mac has received an E+ Moody's Financial Strength rating. Ratings range from A, the highest, to E.