Fannie Mae has priced $3 billion of 5.000% five-year Benchmark Notes at 99.781.The five-year issue (CUSIP: 31359M5H2), due Feb. 16, 2012, yields 5.050% at a spread of 27.0 basis points over the 4.750% Treasury due Jan. 31, 2012. The settlement date is Feb. 15. The joint lead managers are Bear, Stearns & Co., Citigroup Global Markets Inc., and J.P. Morgan Securities. Fannie Mae can be found on the Web at http://www.fanniemae.com.

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