FREDDIE MAC PRICES CASH AND EXCHANGE OFFERINGS FOR NEW 12-YEAR SUBORDINATED DEBT SECURITY (FREDDIE SUBS®)

McLean, VA – FreddieMac (NYSE: FRE) today priced a $500 million cash offering of its new 5.00% subordinated debt security, Freddie SUBS®, due December 14, 2018, at 99.013 to yield 5.11%, or 58.5 basis points more than 10-year U.S. Treasury Notes. As provided in, and subject to, the Exchange Supplement dated December 4, 2006, Freddie Mac is also announcing final pricing information for the outstanding securities purchased in exchange for the new 5.00% Freddie SUBS.

Exchange Security	Fixed AOAS (basis points)	AOAS Price	Reference Yield	Fixed Yield Spread to New Securities (basis points)	Exchange Yield	Exchange Security Index Price	New Security Offering Price	Exchange Ratio	Principal Amount Exchanged	Proration Factor	Principal Amount of New Securities	Residual Cash Amount
6.25% due March 5, 2012	2.00	100.21	N/A	N/A	N/A	101.929	99.013	1.0294507	$342,858,000	1.0	$352,943,000	$12,285.63
5.875% due March 21, 2011	N/A	N/A	5.111%	-25.5	4.856%	105.233	99.013	1.0628200	$909,828,000	1.0	$966,973,000	$10,292.36
5.25% due November 5, 2012	8.00	99.525	N/A	N/A	N/A	100.094	99.013	1.0109178	$251,692,000	1.0	$254,428,000	$11,805.24

Freddie Mac has accepted a total of $1,505,214,000 principal amount of securities pursuant to the exchange offers, of which $836,000 will be purchased for cash. The remaining $1,504,378,000 will be exchanged for $1,574,344,000 of the new 12-year Freddie SUBS security. As a result, the aggregate size of the new 12-year Freddie SUBS security, CUSIP 3134A4ZZ0, will be approximately $2,074,344,000.

The new 5.00% Freddie SUBS, which will settle on December 14, 2006, are being offered in the cash offering by a syndicate of dealers headed by Bear, Stearns & Co. Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Bear Stearns and Merrill Lynch also acted as the dealer managers for the exchange offer. Co-managers of the cash offering are First Tennessee NA, J.P. Morgan Chase, Lehman Brothers, Morgan Stanley and UBS Investment Bank. Holders must deliver exchange securities accepted for exchange or purchase, against payment of residual cash amounts, to the settlement agent, Bank of New York, by 3:00 p.m. EST on Wednesday, December 13, 2006.

This announcement constitutes neither an offer to sell nor a solicitation of an offer to buy Freddie Mac securities that are subject of the exchange and cash offers. Materials providing information on the exchange and cash offerings are available on our Web site, www.FreddieMac.com/debt.

Freddie Mac is a stockholder-owned company 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 and more than four million renters in America.

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