Fannie Mae has announced a common stock dividend of $0.40 per share for the first quarter, unchanged from that of the fourth quarter of 2006.The dividend will be paid Feb. 26 to registered stockholders as of the close of business on Jan. 31, 2007. Preferred stock dividends are: $0.65625 per share of series D; $0.63750 per share of series E; $0.5700 per share of series F; $0.5738 per share of series G; $0.7263 per share of series H; $0.6719 per share of series I; $0.6406 per share of series L; $0.5938 per share of series M; $0.6875 per share of series N; $0.8750 per share of series O; and $1,343.75 per share of convertible series 2004-1. For the series K preferred stock, the dividend will be a blended rate (to be announced later) based on a rate of 5.396% from Dec. 31 through March 17 and the defined swap rate plus 1.33% for March 18 through March 30. The preferred dividends will be paid April 2 to registered stockholders as of the close of business on March 15, 2007 (except for series K, for which the closing date is March 20). Fannie Mae can be found online at http://www.fanniemae.com.

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