Freddie Mac has priced $2.0 billion of a new 2.875% syndicated callable security due on Nov. 3, 2006.The issue, CUSIP number 3128X15Y9, was priced at 99.974 to yield 2.884%, or 74.5 basis points more than three-year U.S. Treasury notes. The issue, which is scheduled to settle Nov. 3, is callable at par on Nov. 3, 2004. Credit Suisse First Boston, Deutsche Bank Securities Inc., and First Tennessee Capital Markets are the joint lead managers for the transaction. Freddie Mac can be found on the Web at http://www.freddiemac.com.

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