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2005 Proxy Statement

The complete 2005 proxy statement has been divided into three segments for easier online viewing and printing.

Segment 1 of the Proxy Statement contains the following information:

Table of Contents
ABOUT THE MEETING
CORPORATE GOVERNANCE
    Corporate Governance Guidelines
    Director Independence
    Director Qualifications
     Audit Committee Financial Expert
    Codes of Conduct
    Chairman of the Board
    Lead Director
    Contacting the Board
    Stock Ownership by Directors and Officers
PROPOSAL 1: ELECTION OF DIRECTORS
    Director Nomination Process
    Nominees for Election
    Meetings of the Board and Committees
    Board Compensation
    Compensation Committee Interlocks
    and Insider Participation
    Transactions with Institutions Related to Directors
    Legal Proceedings
    Indemnification and Other Reimbursements of Directors,

Segment 2 of the Proxy Statement contains the following information:

AUDIT COMMITTEE REPORT
REPORT OF THE CHRC ON EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION
    Compensation Tables
    Stock Performance Graph
    Executive Deferred Compensation Plan
    Pension Plan, Excess Benefit Plan
    and Supplemental Executive Retirement Plan
    Employment Agreements and Severance Arrangements

Segment 3 of the Proxy Statement contains the following information:

PROPOSAL 2: RATIFICATION OF APPOINTMENT OF
  INDEPENDENT AUDITORS
    Description of Fees
    Approval of Independent Auditor Services and Fees
OTHER PROPOSED ACTIONS
AVAILABILITY OF ANNUAL REPORT
SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING
STOCKHOLDER PROPOSALS AND NOMINATIONS FOR NEXT ANNUAL 
   MEETING OF STOCKHOLDERS
SOLICITATION BY BOARD; EXPENSES OF SOLICITATION
Appendix A, Freddie Mac's Corporate Governance Guidelines
Appendix B, Audit Committee Charter