Freddie: No Promises on Earnings Timing

Freddie Mac executives have reiterated their goal to release full-year 2004 financial results by the end of the first quarter next year and resume quarterly reporting with the second quarter, but they also warn that this timetable is "aggressive" and cannot be guaranteed.Eugene McQuade, Freddie Mac's president and chief operating officer, said the corporation remains on track to meet its financial reporting goals and hopes to report full-year 2005 results "on a timely basis." But Freddie Mac executives also said in a conference call with investors and analysts after the market closed Nov. 1 that missing a reporting target by a few days should not be seen as a cause for alarm. "We expect to be able to complete the process of catching up on our financial reporting with our 2005 results, but I caution that we still have a lot of work to do," said Martin Baumann, Freddie's executive vice president and chief financial officer, during the conference call. Freddie Mac can be found online at http://www.freddiemac.com.