Fannie Mae CEO and CFO Voluntarily Certify Periodic Disclosures

August 12, 2002

WASHINGTON, DC -- Fannie Mae (FNM/NYSE), the nation's largest source of financing for home mortgages, today announced that Chairman and Chief Executive Officer Franklin D. Raines and Chief Financial Officer Timothy Howard have voluntarily followed Securities and Exchange Commission (SEC) Order No. 4-460 by certifying the company's most recent periodic reports. Fannie Mae has provided copies of these certifications to the SEC and the Office of Federal Housing Enterprise Oversight.

Raines said, "Restoring investor trust and confidence in corporate disclosure practices is a challenge all companies face in today's environment. Fannie Mae has always been a leader in terms of our commitment to disclosure and transparency. By certifying our financial statements and other disclosures, Tim and I are personally attesting to the accuracy, completeness, and integrity of our public disclosures."

"Fannie Mae's accounting and reporting practices meet the highest standards," added Howard. "Today's certifications affirm these standards, and provide our investors further assurance of our commitment to full and meaningful disclosure."

Fannie Mae previously announced that in 2003, it will voluntarily register its common stock under the Securities Exchange Act of 1934, which will permanently require the company to file its periodic financial disclosures with the SEC.

The sworn certifications, which cover Fannie Mae's Information Statement dated April 1, 2002,Information Statement supplementsdated May 15, 2002 andAugust 9, 2002, and the Proxy Statement for Fannie Mae's 2002 annual meeting of stockholders, can be found together with those documents atwww.fanniemae.com.

Source: Fannie Mae