MAJOR FREDDIE MAC INVESTMENT ENABLES YEAR UP TO PREPARE MORE DC REGION LOW-INCOME YOUNG ADULTS FOR HIGH-TECH JOBS

Year Old Program Helps Majority of Graduates Land Jobs

Washington, DC – Freddie Mac [NYSE: FRE] announced a $500,000 investment over two years in Year Up, a one-year intensive training program for low-income young adults. The announcement came as 19 students graduated from Year Up's apprentice program, designed to help local youth in the greater metro region prepare themselves for high-tech careers.

"We are thrilled! Freddie Mac's been with us from the start, and their new support will ensure that we can serve more young adults, opening opportunities that may not have existed for them," said Tynesia Boyea Robinson, executive director, Year Up Metro DC. "We are proud of our newest graduating class. They are a symbol of our unbelievably successful first year. With Freddie Mac's continuing support, we will make our second year even better as we help young adults gain access to livable-wage careers."

"Year Up is doing an outstanding job of shaping and changing lives for these industrious young people. That's why we are growing our commitment to Year Up as part of our continued community support. At the same time, we're helping train the next generation of IT professionals, which is critical to the future success of our business," stated Joseph Smialowski, executive vice president, Operations and Technology, Freddie Mac.

The 19 recent graduates join 12 who graduated earlier this year. Nearly 85 percent of these young apprentices have full-time jobs, with an average starting salary of $35,000. With Freddie Mac's investment, Year Up expects to add another 72 students to the program.

Year Up is an innovative program that transforms the lives and economic prospects of high school graduates and GED recipients by providing a one-year IT training program leading to technical careers or more advanced education. Building upon success and rapid growth in Boston, MA and Providence, RI, Year Up Metro DC opened its doors in 2006.

Year Up recruits students from urban high schools as well as community-based organizations in the region who have demonstrated an interest in pursuing technology careers and in improving their lives. During the first six months of the program, students attend classes at Year Up headquarters followed by a six-month apprenticeship with local corporate partners. The curriculum is comprehensive and flexible, utilizing classroom and project-based learning techniques that allow for group interaction and one-on-one learning. Instructors hold Master's degrees and are certified as college instructors. The program also focuses on teaching professional skills to help students' build confidence and succeed. Students are able to earn up to 18 college credits for their class work.

Antione Branch is a member of the newest graduating class and spoke during the graduation. A Maryland native, Branch related his aspirations to attend college. However, his family could not afford to send him, so he began to lose motivation during his senior year. Bright and technically capable, he joined the Year Up program, and had to work hard to meet the professional requirements so he could participate in the apprenticeship phase of the program. "Becoming a professional was very difficult for me at first, and I had to work hard to learn how to fit into a corporate environment while not losing my personal identity." Branch's hard work paid off. He was offered a full-time position with Freddie Mac.

During the graduation ceremony held at the Capital Hilton, William Kennard, a managing director with The Carlyle Group and former FCC chairman, provided the keynote address, encouraging students to work hard and follow their dreams. In addition to Freddie Mac, the event was also attended by a number of other corporate partners including: Columbia Capital, Philip L Graham Fund, and MedStar Health, AOL, Capital One, Perot Systems, and The Washington Post.

Founded in 2000 by successful, high-tech entrepreneur Gerald Chertavian, Year Up's unique program serves youth ages 18-24 and revolves around four interrelated components: (1) Education, (2) Experience (3) Support; and (4) Guidance. www.YearUp.org

Freddie Mac is a stockholder-owned corporation 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 pass through securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

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