Fannie Mae has priced $3 billion of 4.750% three-year Benchmark Notes at 99.930.The issue (CUSIP 31359M5Z2), due March 12, 2010, yields 4.775% at a spread of 29.5 basis points over the 4.750% Treasury due Feb. 15, 2010. The settlement date is March 8. The joint lead managers are Goldman Sachs & Co., J.P. Morgan Securities, and Morgan Stanley & Co. Fannie Mae can be found on the Web at http://www.fanniemae.com.

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