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Freddie Mac Announces Offering of a New $3 Billion Two-Year Reference Notes® Security and $1 Billion Reopening of 4.125% Five-Year Reference Notes Security

McLean, VA – Freddie Mac (NYSE: FRE) announced today that it plans to issue a new $3 billion two-year USD Reference Notes® security, CUSIP number 3137EABU2, due on October 25, 2010. The issue will be priced on Wednesday, September 3, 2008, and will settle on Thursday, September 4, 2008.

Additionally, the company also plans to launch a $1 billion reopening of its 4.125% five-year USD Reference Notes security that matures on September 27, 2013. The issue will price today, September 2, 2008, and will settle on Wednesday, September 3, 2008.

The new two-year Reference Notes security will be offered via a syndicate of dealers headed by J.P. Morgan Chase, Lehman Brothers and UBS Investment Bank. An application will be made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange.

The $1 billion reopening of its 4.125% five-year Reference Notes security will be conducted via an internet-based auction. The issue, CUSIP 3137EABS7, is listed on the Euro MTF market of the Luxembourg Stock Exchange. After the reopening, the outstanding size of the 4.125% five-year Reference Notes security will be $4 billion. All auction details and instructions can be found on Freddie Mac's Debt Securities Web page, www.FreddieMac.com/debt/auctionrepurch/auctions.html.

Including today's offerings, Freddie Mac has issued $43 billion of Reference Notes securities during 2008 and has approximately $264 billion in Reference Notes and Reference Bonds® securities outstanding.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's proxy statement, its Registration Statement on Form 10 dated July 18, 2008 and all documents that Freddie Mac files with the Securities and Exchange Commission ("SEC") pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934.

Freddie Mac's press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company's Registration Statement on Form 10 dated July 18, 2008 and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors and the SEC's Web site at www.sec.gov.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac raises capital on Wall Street and throughout the world's capital markets to finance mortgages for families across America. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

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