New Members Named to Freddie Mac's Board of Directors

For Immediate Release

December 23, 2008
Contact: corprel@freddiemac.com
or (703) 903-3933

McLean, VA – Freddie Mac announced that the Federal Housing Finance Agency (FHFA), as Conservator of Freddie Mac, has appointed 10 directors to the board, bringing the total number of directors to 11. The recently appointed members include: Barbara T. Alexander, Linda B. Bammann, Carolyn H. Byrd, Robert R. Glauber, Laurence E. Hirsch, Christopher S. Lynch, Freddie Mac CEO David M. Moffett, Nicolas P. Retsinas, Eugene B. Shanks, Jr., and Anthony A. Williams.

With these appointments, the company's board now consists of seven new directors, Non-Executive Chairman John A. Koskinen (appointed by the Conservator in September 2008), and three directors who were on the board prior to conservatorship: Barbara T. Alexander, Robert R. Glauber, and Nicolas P. Retsinas.

"I am delighted with our board members' depth and breadth of experience, and I look forward to working with them. They will provide leadership and expertise as Freddie Mac works to fulfill its important mission and bring stability, liquidity and affordability to the nation's housing markets," said John A. Koskinen, non-executive chairman of Freddie Mac's board of directors.

Director Bios

Barbara T. Alexander has been an independent consultant since 2004. Prior to that, she was a senior advisor to UBS Warburg LLC and predecessor firms from 1999 to 2004 and managing director of the North American Construction and Furnishings Group in the Corporate Finance Department of UBS from 1992 to 1999. From 1987 to 1992, Alexander was a managing director in the Corporate Finance Department of Salomon Brothers Inc. Prior to that, she held various positions at Salomon Brothers, Smith Barney, Investors Diversified Services, and Wachovia Bank and Trust Company. She is a member of the board of directors of Centex Corporation and Qualcomm Incorporated. She also is an executive fellow at the Joint Center for Housing Studies at Harvard University.
Linda B. Bammann was executive vice president, deputy chief risk officer for JPMorgan Chase & Co. from 2004 until her retirement in 2005. Bammann held several positions with Bank One Corporation beginning in 2000, including executive vice president and chief risk management officer from 2001 until its acquisition by JPMorgan Chase & Co. in 2004. Ms. Bammann was also a member of Bank One's executive planning group. Prior to that time, Bammann was a managing director with UBS Warburg and predecessor firms from 1992 to 2000. In addition, she was a board member of the Risk Management Association and chairperson of the Loan Syndications and Trading Association.
Carolyn H. Byrd has served as chairman and CEO of GlobalTech Financial, LLC since 2000. Byrd was president of Coca-Cola Financial Corporation from 1997 to 2000. She also held a variety of domestic and international positions with The Coca-Cola Company, including chief of internal audits and director of the corporate auditing departments. In addition, Byrd serves as a director of AFC Enterprises, Inc. and a director of Circuit City Stores, Inc. Byrd is also a member of the board of trustees of Fisk University.
Robert R. Glauber is a lecturer at Harvard's Kennedy School of Government and a visiting professor at the Harvard Law School. Prior to that, he served as chairman and CEO of the National Association of Securities Dealers ("NASD") from 2001 to 2006, after first serving as its CEO and president and a member of its board. Over the years, he has been a lecturer at the Kennedy School, undersecretary of the Treasury for Finance and a professor of finance at the Harvard Business School. Glauber also served as executive director of the task force appointed by President Reagan to report on the 1987 stock market break. He has served on the board of the Federal Reserve Bank of Boston, a number of Dreyfus mutual funds, the Investment Company Institute, and as president of the Boston Economic Club. He also is a director of Moody's Corporation; a trustee of the International Accounting Standards Committee Foundation; and lead director of XLCapital Ltd. Glauber has been a senior advisor at PeterJ. Solomon Co., an investment bank, since November 2006.
Laurence E. Hirsch has served as chairman of Highlander Partners, L.P., a private equity firm, since 2004. Hirsch served as CEO of Centex Corporation, a large homebuilder, from 1988 until his retirement in 2004 and as its chairman of the board from 1991 until March 2004. Hirsch also serves as the chairman of the board of directors of Eagle Materials Inc. and as a director of A. H. Belo Corporation. In addition, Hirsch is chairman of the Center for European Policy Analysis in Washington, D.C.
John A. Koskinen has served as non-executive chairman of Freddie Mac since September 2008. Previously he was president of the United States Soccer Foundation for four years, deputy mayor and city administrator of Washington, DC from 2000 to 2003, assistant to the president and chair of the President's Council on Year 2000 Conversion from 1998 to 2000 and deputy director for management of the Office of Management and Budget from 1994 to 1997. Prior to his government service, Koskinen worked as a senior executive of the Palmieri Company, including serving as president and CEO, participating in the restructuring of a range of large, troubled enterprises including the Penn Central, the Teamsters Pension Fund, Levitt and Sons, Inc. and Mutual Benefit. Koskinen also serves on the boards of the AES Corporation, American Capital, Ltd., and the non-profit D.C. Education Compact.
Christopher S. Lynch is an independent consultant providing a variety of services to financial intermediaries, including risk management, strategy, governance, financial and regulatory reporting and troubled-asset management. Prior to retiring from KPMG LLP in 2007, Lynch held a variety of positions with KPMG, including National Partner in Charge – Financial Services, the firm's largest industry division. Lynch chaired KPMG's Americas Financial Services Leadership team, was a member of the Global Financial Services Leadership and the U.S. Industries Leadership teams, and led the Banking & Finance practice. Lynch also served as a partner in KPMG's Department of Professional Practice and as a practice fellow at the Financial Accounting Standards Board. Mr. Lynch was the lead and audit signing partner for some of KPMG’s largest financial services clients.
David M. Moffett joined Freddie Mac as CEO in September 2008. Moffett retired as vice chairman and chief financial officer of U.S. Bancorp in 2007, having served the company in this capacity since 1993. Since his retirement from U.S. Bancorp, Moffett served as a senior advisor at The Carlyle Group. Prior to joining U.S. Bancorp, Moffett was a senior vice president and assistant treasurer in Corporate Treasury at BankAmerica Corporation. Moffett joined BankAmerica in 1992 as a result of the merger with Los Angeles-based Security Pacific Corporation where he served as senior vice president and director of Corporate Treasury. Previously, Moffett was chairman of the CFO Council of the Financial Services Roundtable; a financial services industry advisor of Standard & Poor's Rating Service; a financial services industry advisor of Moody's Rating Service; and a member of the CFO Roundtable, Bank Administration Institute. Moffett also is a director of eBay Inc.
Nicolas P. Retsinas has been director of Harvard University's Joint Center for Housing Studies. He also is a lecturer in Housing Studies at the Graduate School of Design and the Kennedy School of Government, and is a lecturer in Real Estate at the Harvard Business School. Prior to Harvard, Retsinas served as assistant secretary for housing— federal housing commissioner at the U.S. Department of Housing and Urban Development from 1993 to 1998 and as director of the Office of Thrift Supervision from 1996 to 1997. He served on the board of the Federal Deposit Insurance Corporation from 1996 to 1997, the Federal Housing Finance Board from 1993 to 1998 and the Neighborhood Reinvestment Corporation from 1993 to 1998. He also serves on the board of trustees for the National Housing Endowment and for Enterprise Community Partners and on the board of directors of the Center for Responsible Lending.
Eugene B. Shanks, Jr. held a variety of positions with Bankers Trust Company from 1973 to 1978 and from 1980 to 1995, including serving as president and director from 1992 to 1995 and before that head of global markets. Currently, he is a trustee of Vanderbilt University, and also serves as a director of NewPower Holdings, Inc. and The Posse Foundation. From 2007 until 2008, Shanks served as the acting CEO of Trinsum, a strategic consulting and asset management company. From 1997 until its sale in 2002, Shanks served as president and CEO of NetRisk, Inc., a risk management software and advisory services company.
Anthony A. Williams has been the CEO of Primum Public Realty Trust since 2007. Primum, an indirect, wholly owned subsidiary of Friedman, Billings, Ramsey Group, provides financial solutions for government and not-for-profit organizations. Williams served as the mayor of Washington, DC from 1999 to 2007 and as its chief financial officer from 1995 to 1998. Williams has also served as vice chair of the Metropolitan Washington Council of Governments and as president of the National League of Cities. Williams was the first chief financial officer for the U.S. Department of Agriculture. Over the years, he also served as the deputy state comptroller of Connecticut, the executive director of the Community Development Agency in St. Louis, and the assistant director of the Boston Redevelopment Authority. He currently is a director of Meruelo Maddux Properties, Inc.

Board Structure

The Conservator has determined that the board will be comprised of 11 members, including a non-executive chairman, with the chief executive officer as the only corporate officer serving as a member. The board will have four committees: audit, compensation, nominating and governance, and business and risk. The Conservator has delegated to the board basic oversight responsibilities for the company's operations, subject to the requirement that the board consult with and obtain the approval of the Conservator before taking action in certain areas.

For more information about the board, read Freddie Mac's latest SEC filing, which can be found at: www.freddiemac.com/investors/sec_filings/index.html.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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