FREDDIE MAC SETS ANNUAL STOCKHOLDERS' MEETING DATE AND ANNOUNCES DEADLINES FOR SUBMITTING STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS

McLean, VA – The board of directors of Freddie Mac (NYSE:FRE) has set November 4, 2004 as the date for Freddie Mac's next annual stockholders' meeting. Holders of record of Freddie Mac's common stock as of September 10, 2004 will be electing 13 members of the corporation's 18-member board of directors.

Terms of current stockholder elected directors will expire on the date of this annual meeting. All directors elected at the November 4, 2004 annual meeting will serve terms ending on the date of Freddie Mac's next annual stockholders' meeting. The remaining directors are appointed by the president of the United States. Prior to our March 31, 2004 annual meeting, the Office of Counsel to the president informed us that the president did not intend to reappoint any of his then-current presidential appointees. Consequently, each of their terms as presidential appointees ended on the date of that meeting. No new appointees have been named by the president as of this date.

The annual meeting will convene on November 4, 2004 at 9 a.m. Eastern Standard Time at the Freddie Mac office located at 8000 Jones Branch Drive, McLean, Virginia 22102. Proxy material and Freddie Mac's 2003 annual report will be mailed to stockholders by the corporation's transfer agent in accordance with Freddie Mac's bylaws and NYSE requirements.

Stockholder Proposals and Director Nominations

As announced in Freddie Mac's press release dated July 22, 2004, to be considered for inclusion in the proxy statement, stockholder proposals must be submitted in writing to the Corporate Secretary, Freddie Mac, 8200 Jones Branch Drive, MS 200, McLean, Virginia 22102 by August 27, 2004. Stockholder proposals to be introduced on the floor of the annual meeting and director nominations must be submitted in writing to the Corporate Secretary, Freddie Mac, 8200 Jones Branch Drive, MS 200, McLean, Virginia 22102 by September 15, 2004.

Additional information, including the requirements and procedures for submitting stockholder proposals and director nominations, is available on the company's Web site.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing 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 for one in six homebuyers in America.

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