FREDDIE MAC ANNOUNCES RESULTS OF MULTIPLE €REFERENCE NOTES® REPURCHASE OPERATION

McLean, VA – Freddie Mac (NYSE: FRE) today announced results of the €Reference Notes® repurchase operation which closed at 1 p.m. BST (British Summer Time) today. Freddie Mac repurchased a total of €670 million of the following €Reference Notes® securities:

CUSIP	ISIN	Coupon	Maturity	Amount Repurchased (€ millions)	Amount Outstanding Following Repurchase (€ millions)
31339QAJ8	XS0161387468	3.500%	2/15/08	75	3,509
31339QAH2	XS0154444870	4.750%	1/15/13	160	3,856
31339QAA7	XS0184595311	4.375%	1/15/14	435	3,565

The overall offer-to-cover ratio was 3.491 to one. Settlement for all issues will be on October 1, 2004.

This announcement is neither an offer to sell nor a solicitation of offers to buy any of these securities. Any such offering will be made only by applicable offering materials. Grant Street Group, parent of MuniAuction, Pittsburgh, PA provides services and technology relating to the repurchase operations.

Freddie Mac is a stockholder-owned company 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 passthrough securities and debt instruments in the capital markets. Over the years, Freddie Mac made home possible for one in six homebuyers and more than two million renters in America.

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