DONOGHUE NAMED FREDDIE MAC GENERAL COUNSEL

McLean, VA – Freddie Mac (NYSE: FRE) has named Joan E. Donoghue senior vice president and general counsel, reporting to Chairman and CEO Richard F. Syron.

“Joan has been a tremendous asset to Freddie Mac during a period of extraordinary change. Her integrity, leadership, and legal skills will continue to serve this company well as we continue to fulfill our mission of helping more families become homeowners,” Syron said.

Donoghue had previously served as senior vice president and principal deputy general counsel since April 2004. Donoghue joined Freddie Mac in 2001 as associate general counsel and later served as vice president and acting general counsel.

Prior to joining Freddie Mac, Donoghue held positions of increasing importance with the U.S. Department of State including deputy legal adviser. She also served as deputy general counsel at the U.S. Department of the Treasury. She also served as visiting professor at Boalt Hall School of Law, University of California at Berkeley, where she was a Council on Foreign Relations International Affairs Fellow. She began her legal career as an associate attorney with Covington & Burling.

Donoghue is a member of the District of Columbia bar. She has been a member of the Executive Council of the American Society for International Law, and an adjunct professor of law, Georgetown University School of Law. She has published articles on a variety of international law topics.

Donoghue received a JD degree from Boalt Hall School of Law, University of California, Berkeley and BA degrees from the University of California, Santa Cruz.

Donoghue takes over for Ralph F. Boyd, Jr., who has been named Freddie Mac’s executive vice president of community relations, responsible for all of the corporation’s extensive philanthropic efforts, including corporate giving and employee volunteerism. In addition, the Freddie Mac Foundation board of directors elected Boyd to be chairman of the Foundation's board. Boyd replaces Freddie Mac Chairman and CEO Richard F. Syron, who remains on the Foundation board but resigned as its chairman to focus more attention on key legislative and business issues facing the company.

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers.

###