FREDDIE MAC JOINS WITH STANDARD MORTGAGE, HANDS ON NEW ORLEANS, NDF, AND OTHER LOCAL ORGANIZATIONS IN EFFORT TO REVITALIZE LOCAL NEW ORLEANS NEIGHBORHOOD

Hoffman Triangle Cleanup Effort on Sept. 23 with some New Orleans Saints Players

McLean, VA – Freddie Mac has joined Standard Mortgage, Hands On New Orleans, and Neighborhood Development Foundation (NDF) to begin recovery efforts in the Hoffman Triangle neighborhood in New Orleans, an area that sustained damage from Hurricanes Katrina and Rita last year. Several team members from the New Orleans Saints, including defensive team captain Will Smith and Terance Mathis, a former Atlanta Falcon and Pro Bowl wide receiver, will work side-by-side with other volunteers on such projects as exterior home and sidewalk repairs, fence-mending, painting and other needed improvements on Saturday, September 23 from 8:00 am to 3:30 pm in the Hoffman Triangle neighborhood.

Hoffman Triangle is centrally located to schools, churches, bus lines and grocery stores and is located in the 2800 block of South Prieur, near the former Hoffman Elementary School. The area was being redeveloped when last year's hurricanes hit. This public and private volunteer effort encompasses a two-block radius of South Prieur Street and includes one block north on 4th Street.

"I want to thank Freddie Mac, Standard Mortgage, the New Orleans Neighborhood Development Foundation, the NFL, the Saints organization and all those responsible for the Hands on Hoffman revitalization effort," said Senator Mary Landrieu (D-LA). "The overwhelming support of groups such as these from across the country is heart warming and encouraging. With perseverance and a commitment to excellence, New Orleans will be well on its way to once again becoming one of the world's most exciting and attractive cities."

"I'm excited that there will be a national audience available to see how far we've come in our recovery and I hope that this will remind the country of just how far we have yet to go," said Senator David Vitter (R-LA)."I'd like to thank Freddie Mac, Standard Mortgage, the NDF, the Saints organization and all those who have volunteered time and money to helping restore our great city."

"The Hands on Hoffman revitalization effort is a wonderful example of people reaching out to New Orleans to help rebuild this great city. I want to thank all those involved including Freddie Mac, Standard Mortgage, the Neighborhood Development Foundation and the volunteers for their efforts to not only bring back New Orleans, but bring back New Orleans better than before," said New Orleans Mayor Ray Nagin."I am inspired by what I see happening around our city and my hope is that it will inspire others as well."

"There is still much to do to restore New Orleans, but there are great people and organizations making a difference," said Will Smith from the Saints."Hands On Hoffman Day is one reminder to New Orleans citizens not to give up hope on rebuilding their homes – that communities are being restored from the Katrina damage, one neighborhood at a time."

Standard Mortgage, with Neighborhood Development Foundation's (NDF) development arm, Associated Neighborhood Development (AND) has adopted Hoffman Triangle as a targeted service area.

"The revitalization of Crescent City is of the utmost importance," said Paul E. Mullings, Freddie Mac senior vice president, Single Family Sourcing."This is a great example of local and national businesses and community organizations coming together in an effort to launch the recovery process in the Hoffman Triangle and to spotlight the ongoing need to rebuild and revitalize these areas devastated by last year's storms."

"We at Standard Mortgage recognize the desperate need to restore our neighborhoods that were so badly hit by last year's hurricanes," said Edgar Bright III, president of Standard Mortgage Corporation. "We hope this hands on initiative of volunteers will get the process started more quickly and draw attention to the ongoing need for reclamation that still remains in the New Orleans, and indeed the southern Gulf, area."

"The Hands on Hoffman Initiative is a one-day outreach event intended to begin rejuvenation of the Hoffman Triangle neighborhood, a neighborhood that was already undergoing redevelopment just as last year's hurricanes swept through," said Executive Director of NDF Rosalind Peychaud. "We welcome and applaud the efforts of all those who have volunteered to restart the rebuilding of this vital neighborhood and look forward to working with them, as well as with Freddie Mac and Standard Mortgage as the restoration of Hoffman Triangle gets underway."

Hands On New Orleans is providing project management on site by planning projects, developing work scopes, and leading volunteers through a variety of tasks that will beautify this neighborhood. Hands On New Orleans is committed to the long-term rebuilding of New Orleans, providing a facility for up 100 volunteers whose accommodation and meals are provided for as long as they wish to help the rebuilding effort.

Home Depot, Jefferson Feed, and Pet and Garden will supply building supplies, materials and expert advice.

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.

###