Freddie Mac Announces Reference Note(R) And Bond(SM) Periodic Repurchase Operations

Apr 26, 2001, 01:00 ET from Freddie Mac

    MCLEAN, Va., April 26 /PRNewswire/ -- Freddie Mac (NYSE:   FRE) today
 announced a program to periodically repurchase its off-the-run Reference
 Notes(R) and Bonds(SM), beginning in the second quarter of 2001.  The periodic
 repurchase operations will focus exclusively on older, off-the-run issues
 while preserving the supply of active, on-the-run Reference Notes and Bonds.
     "Periodic repurchases will allow Freddie Mac to further pursue its
 asset/liability management strategies while ensuring that our investors can
 continue to depend on the predictability and liquidity of our Reference
 issuance program," said Jerome Lienhard, Senior Vice President, Investment
 Funding.  "We have designed our Reference periodic repurchase operations
 around our commitment to a consistent, transparent Reference Financing
 Calendar."
     Freddie Mac expects to conduct repurchases at least once every calendar
 quarter, provide overnight advance public notice of repurchase activity, and
 post results -- including the amounts of each security the company has
 repurchased -- within 15 minutes after completing the repurchase operations.
 Any departure from this timetable should be for exceptional circumstances
 only.
     Dealers invited to participate in the Reference repurchases are ABN Amro,
 Bear, Stearns & Co. Inc., Credit Suisse First Boston, Deutsche Banc Alex.
 Brown, Goldman Sachs, Lehman Brothers, Merrill Lynch, J.P. Morgan & Co.,
 Morgan Stanley, Salomon Smith Barney, and UBS Warburg.  Freddie Mac will
 consider multiple offerings per issue through the dealer group.
 
     Freddie Mac will host a conference call for investors to discuss its
 periodic repurchase operations at 10:30 a.m. eastern time, Tuesday, May 1.  To
 participate in the conference call, please use the following dial-in numbers:
     * United States:  (800) 450-0821
     * International:  (612) 332-0932
 
     To listen to a replay, investors may call the following numbers between
 May 1 at 1:45 p.m. eastern time and May 8 at 11:59 p.m.
     * United States:  (800) 475-6701  (access code: 584429)
     * International:  (320) 365-3844  (access code: 584429)
 
     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.
 
     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 pass-through
 securities and debt instruments in the capital markets.  Over the years,
 Freddie Mac has opened the doors for one in six homebuyers and more than two
 million renters across America.  Freddie Mac is the winner of the
 International Financing Review's North American Borrower of the Year and
 Agency Borrower of the Year awards for the year 2000. For additional
 information about Freddie Mac, see the Company's website:
 http://www.freddiemac.com .
 
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SOURCE Freddie Mac
    MCLEAN, Va., April 26 /PRNewswire/ -- Freddie Mac (NYSE:   FRE) today
 announced a program to periodically repurchase its off-the-run Reference
 Notes(R) and Bonds(SM), beginning in the second quarter of 2001.  The periodic
 repurchase operations will focus exclusively on older, off-the-run issues
 while preserving the supply of active, on-the-run Reference Notes and Bonds.
     "Periodic repurchases will allow Freddie Mac to further pursue its
 asset/liability management strategies while ensuring that our investors can
 continue to depend on the predictability and liquidity of our Reference
 issuance program," said Jerome Lienhard, Senior Vice President, Investment
 Funding.  "We have designed our Reference periodic repurchase operations
 around our commitment to a consistent, transparent Reference Financing
 Calendar."
     Freddie Mac expects to conduct repurchases at least once every calendar
 quarter, provide overnight advance public notice of repurchase activity, and
 post results -- including the amounts of each security the company has
 repurchased -- within 15 minutes after completing the repurchase operations.
 Any departure from this timetable should be for exceptional circumstances
 only.
     Dealers invited to participate in the Reference repurchases are ABN Amro,
 Bear, Stearns & Co. Inc., Credit Suisse First Boston, Deutsche Banc Alex.
 Brown, Goldman Sachs, Lehman Brothers, Merrill Lynch, J.P. Morgan & Co.,
 Morgan Stanley, Salomon Smith Barney, and UBS Warburg.  Freddie Mac will
 consider multiple offerings per issue through the dealer group.
 
     Freddie Mac will host a conference call for investors to discuss its
 periodic repurchase operations at 10:30 a.m. eastern time, Tuesday, May 1.  To
 participate in the conference call, please use the following dial-in numbers:
     * United States:  (800) 450-0821
     * International:  (612) 332-0932
 
     To listen to a replay, investors may call the following numbers between
 May 1 at 1:45 p.m. eastern time and May 8 at 11:59 p.m.
     * United States:  (800) 475-6701  (access code: 584429)
     * International:  (320) 365-3844  (access code: 584429)
 
     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.
 
     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 pass-through
 securities and debt instruments in the capital markets.  Over the years,
 Freddie Mac has opened the doors for one in six homebuyers and more than two
 million renters across America.  Freddie Mac is the winner of the
 International Financing Review's North American Borrower of the Year and
 Agency Borrower of the Year awards for the year 2000. For additional
 information about Freddie Mac, see the Company's website:
 http://www.freddiemac.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X86683518
 
 SOURCE  Freddie Mac

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