Fannie Prices BenchNotes

Fannie Mae has priced $4 billion of two-year Benchmark Notes due Jan. 15, 2006, and a $1 billion reopening of 10-year Benchmark Notes due Oct. 15, 2013.The 2.000% two-year issue (CUSIP: 31359MTU7) was priced at 99.904 with a yield of 2.047%. The 4.625% 10-year reopening (CUSIP: 31359MTG8) was priced at 99.920 with a yield of 4.634%. The joint lead managers for both issues are Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; and UBS Warburg LLC. Fannie Mae can be found online at http://www.fanniemae.com.

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