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Freddie Mac Holds Annual Stockholders' Meeting

Stockholders Elect Board of Directors, Thomas Johnson Elected as Lead Director

McLean, VA – Freddie Mac (NYSE: FRE) has "an unparalleled opportunity today to grow and build shareholder value simply by doing our job" of providing stability, liquidity, and affordability to the housing market, Chairman and Chief Executive Officer Richard F. Syron said today during the company's annual stockholders' meeting.

Likening the company's situation to a "Tale of Two Freddie Macs," Syron spoke of "very tough times in terms of the credit overhang we face. Yet going forward, Freddie Mac is facing the best of times in terms of our market share, market opportunities, more rational pricing, and expected revenue growth."

Syron told stockholders about progress Freddie Mac has made, despite the most severe housing downturn in decades.  He outlined steps taken to improve the company's performance, including returning to timely and current financial reporting; completing a major remediation of internal controls; driving towards SEC registration; significantly improving and simplifying accounting; taking necessary steps to adjust prices and credit terms while continuing to subsidize affordable products; and acting prudently and decisively to protect and bolster capital while continuing to serve the company's vital housing mission.

During the meeting, Freddie Mac's stockholders elected 11 directors to the company's board of directors, and ratified the re-appointment of PricewaterhouseCoopers LLP as the company's independent auditor for the fiscal year ending December 31, 2008. Stockholders also approved the amendment and restatement of the 2004 Stock Compensation Plan.

Board of Directors

Members re-elected to Freddie Mac's board of directors today are:

• Barbara T. Alexander, independent consultant.

• Geoffrey T. Boisi, chairman and chief executive officer of Roundtable Investment Partners LLC.

• Michelle Engler, trustee of the JNL Investor Series Trust and JNL Series Trust and member of the board of managers of the JNL Variable Fund LLC.

• Robert R. Glauber, retired chairman and chief executive officer of National Association of Securities Dealers, Inc.

• Richard Karl Goeltz, retired vice chairman and chief financial officer of American Express Company.

• Thomas S. Johnson, retired chairman and chief executive officer of GreenPoint Financial Corporation.

• William M. Lewis, Jr., managing director and co-chairman of investment banking at Lazard Ltd.

• Nicolas Retsinas, director of Harvard University's Joint Center for Housing Studies.

• Stephen A. Ross, Franco Modigliani professor of financial economics at the Massachusetts Institute of Technology.

• Richard F. Syron, chairman and chief executive officer of Freddie Mac.

Jerome P. Kenney, retired vice chairman of Merrill Lynch, also was elected to the board of directors today.

In a meeting of the board of directors immediately following the stockholders' meeting, Richard Syron was re-elected chairman of Freddie Mac's board.  Also, Thomas Johnson was elected lead director, taking over for Shaun O'Malley who retired from the board after nearly seven years of exceptional service.

The board of directors also made the following board committee appointments:

• Audit Committee: Richard Goeltz, chairperson; Jerome Kenney, Robert Glauber, Thomas Johnson, and Stephen Ross, members.

• Compensation and Human Resources Committee: Geoffrey Boisi, chairperson; Barbara Alexander, Michelle Engler, Thomas Johnson, and Jerome Kenney, members.

• Finance and Capital Deployment Committee: Stephen Ross, chairperson; Robert Glauber, Richard Goeltz, William Lewis, Jr., and Nicolas Retsinas, members.

• Governance, Nominating and Risk Oversight Committee: Thomas Johnson, chairperson; Barbara Alexander, Geoffrey Boisi, Richard Goeltz, and Stephen Ross, members.

• Mission, Sourcing and Technology Committee:  Barbara Alexander, chairperson; Geoffrey Boisi, Michelle Engler, William Lewis, Jr., and Nicolas Retsinas, members.

Bylaws Amendments

In addition, the board of directors approved several amendments to Freddie Mac's bylaws, effective today. Further information about these amendments will be included in an Information Statement Supplement to be issued June 6, 2008. The Information Statement Supplement about the amended bylaws will be posted on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors. The amended bylaws also will be posted on the Corporate Governance page of the company's Web site at http://www.FreddieMac.com/governance.

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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