Fannie Mae Releases Year 2002 Benchmark Notes and Benchmark Bonds Calendar

Business Wire, Oct 29, 2001

Business Editors

WASHINGTON--(BUSINESS WIRE)--Oct. 29, 2001

Fannie Mae (NYSE:FNM), the nation's largest source of financing for home mortgages, today announced the availability of its Year 2002 noncallable, senior Benchmark Securities(SM) calendar.

A copy of the calendar is attached.

Fannie Mae estimates that it expects to bring to market approximately $225 billion in long-term debt during 2002, including more than $70 billion in noncallable Benchmark Notes(R) and Benchmark Bonds(R).

The Year 2002 calendar defines the announcement, pricing and settlement dates for the noncallable Benchmark Securities that will be brought to market in each month of the year. Fannie Mae will specify on the announcement date whether the defined Benchmark maturity (or maturities) for that particular month will be a new issue or reopening.

The distribution of the calendar at this time is designed to better assist investors and other market participants in incorporating Fannie Mae noncallable Benchmark Securities into their ongoing investing, trading, hedging and financing strategies.

This announcement is for informational purposes only and 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 supplement thereto.

The Year 2002 calendar also is available on Fannie Mae's Web site at www.fanniemae.com.

Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages.

Fannie Mae is working to shrink the nation's "homeownership gaps" through a $2 trillion "American Dream Commitment" to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided more than $3.0 trillion of mortgage financing for 40 million families.

Benchmark Notes and Benchmark Bonds are registered marks and Benchmark Securities is a service mark of Fannie Mae. Unauthorized use of these marks is prohibited.

Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "Fannie Mae." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."

                               YEAR 2002
               Noncallable Benchmark Bills(R), Notes(R),
                         and Bond(SM) Calendar

                  JANUARY            FEBRUARY             MARCH
               A     P     S       A     P     S      A      P     S
              ----------------    ----------------   -----------------
3/6-mo bill   Weekly Auction      Weekly Auction     Weekly Auction
1-year bill   Biweekly Auction    Biweekly Auction   Biweekly Auction
2/3-year                          15th  21st  25th
5-year        18th  24th  28th                       18th   22nd  26th
10-year                                              18th   22nd  26th
30-year

                    APRIL               MAY                 JUNE
               A     P     S       A     P     S      A      P     S
              ----------------    ----------------   -----------------
3/6-mo bill   Weekly Auction      Weekly Auction     Weekly Auction
1-year bill   Biweekly Auction    Biweekly Auction   Biweekly Auction
2/3-year      15th  18th  22nd                       14th   19th  21st
5-year                            20th  23rd  28th
10-year                                              14th   19th  21st
30-year       15th  18th  22nd

                    JULY               AUGUST             SEPTEMBER
               A     P     S       A     P     S      A      P     S
              ----------------    ----------------   -----------------
3/6-mo bill   Weekly Auction      Weekly Auction     Weekly Auction
1-year bill   Biweekly Auction    Biweekly Auction   Biweekly Auction
2/3-year                          19th  22nd  26th
5-year        15th  18th  22nd                       16th   19th  23rd
10-year                                              16th   19th  23rd
30-year       15th  18th  22nd

                   OCTOBER             NOVEMBER            DECEMBER
               A     P     S       A     P     S      A      P     S
              ----------------    ----------------   -----------------
3/6-mo bill   Weekly Auction      Weekly Auction     Weekly Auction
1-year bill   Biweekly Auction    Biweekly Auction   Biweekly Auction
2/3-year      21st  24th  28th                       16th   19th  23rd
5-year                            8th   14th  18th
10-year                                              16th   19th  23rd
30-year       21st  24th  28th

A = Announcement Date       P = Pricing Date       S = Settlement Date

      Minimum new issue size for Benchmark Notes (2 years - 10 years in
maturity) is $4.0 billion.
      Minimum new issue size for Benchmark Notes (maturities greater
than 10 years) is $1.0 billion.

      3- and 6-month Benchmark Bills are auctioned on a weekly basis,
and the 1-year Benchmark Bills are auctioned on a biweekly basis.