FREDDIE MAC TO ISSUE NEW $3 BILLION TWO-YEAR REFERENCE NOTES® SECURITY

Freddie Mac Also Reopened $1 Billion 4.875% 10-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 3137EABQ1, due on July 16, 2010. The issue will be priced on Thursday, July 17, 2008, and will settle on Friday, July 18, 2008.

The new two-year Reference Notes security will be offered via a syndicate of dealers headed by Barclays Capital, Inc., Goldman Sachs Group and J.P. Morgan Chase. An application will be made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange.

The Company also announced that it increased the size of its 4.875% 10-year USD Reference Notes security that matures on June 13, 2018, by $1 billion, which was privately placed by Barclays Capital, Inc. The new outstanding amount on the issue, CUSIP number 3137EABP3, is $4 billion.

Including today's offering, Freddie Mac has issued $36 billion of Reference Notes securities during 2008 and has approximately $257 billion in Reference Notes and Reference Bonds® securities outstanding.

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 an offering circular and pricing supplement.

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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