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For Immediate Release November
15,
2007
FREDDIE MAC ISSUES 2008 FUNDING CALENDARSMcLean, VA – Freddie Mac (NYSE: FRE) today issued its 2008 funding calendars The 2008 funding calendars are available on the Debt and Mortgage Securities pages of the company's Web site at www.FreddieMac.com. For 2008, Freddie Mac's Reference Notes and Reference REMIC calendar provides optional announcement dates for Reference Notes securities offerings. The funding calendar no longer provides pricing and settlement dates for Reference Notes securities, nor does it provide information on potential maturities. In addition, the company will no longer issue a Quarterly Funding Announcement outlining funding plans prior to the beginning of each quarter. The 2008 funding calendar is designed to provide Freddie Mac greater flexibility in its debt-funding program, enabling the company to respond efficiently to changing market conditions and lowering its funding costs. On the Reference Notes announcement dates set forth on the calendar, Freddie Mac will announce whether it plans to issue a Reference Notes security in that month. If a Reference Notes security will be issued, the company will also provide the pricing, settlement and maturity dates of the security, the transaction size, as well as information on the dealer syndicate on the announcement date. Minimum Reference Notes offering sizes remain unchanged at $3 billion for two-, three-, five- and 10-year new issues and there continues to be no minimum offering size for re-openings. As in 2007, Freddie Mac's funding calendars for 2008 include optional monthly issuance windows for Reference REMIC securities. Issuance of Reference REMIC securities will be subject to market conditions, including the availability of collateral and investor interest. Freddie Mac will continue to announce whether it plans to use the optional issuance window, and when relevant, confirm the timing of when it expects to issue a Reference REMIC security on the first business day of each month. Subject to market conditions, the company intends to issue at least one Reference REMIC security per quarter with a minimum offering size of $1 billion. In 2008, Freddie Mac will continue to offer one-, three-, six- and 12-month Reference Bills securities via auction. During the year, Freddie Mac will auction all three-, six- and 12-month Reference Bills securities on Mondays unless Monday is a holiday. If Monday is a holiday, the auction will occur on Tuesday. Freddie Mac will auction 12-month Reference Bills securities every four weeks. The company will auction one-month Reference Bills securities on the last Wednesday of each month. Reference Bill auction announcements occur at 10:30 a.m., Eastern Time, on Fridays. The minimum Reference Bill auction size remains unchanged at $1 billion. The announcement is neither an offer to sell nor a solicitation to buy any of these securities. Any such offering will be made by an offering circular and pricing supplement. 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-related 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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