Fannie Mae has announced a common stock dividend of $0.40 per share for the second quarter, unchanged from that of the previous quarter.The dividend will be paid May 25 to registered stockholders as of the close of business on April 30, 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. The preferred dividends will be paid July 2 to registered stockholders as of the close of business on June 15, 2007. Fannie Mae can be found online at http://www.fanniemae.com.

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