Freddie Mac has priced $2 billion of a new 4.125% syndicated callable security due Feb. 24, 2011.The issue, CUSIP number 3128X2ZQ1, was priced at 99.485 to yield 4.211%, or 118.2 basis points more than five-year U.S. Treasury notes. The issue, which is scheduled to settle Feb. 24, is callable at par on Feb. 24, 2006. The joint lead managers of the transaction are Credit Suisse First Boston, HSBC Securities, and Merrill Lynch. John Radwanski, Freddie Mac's managing director of global debt execution, said participation from European investors was "the strongest we've seen since introducing this product two years ago." Freddie Mac can be found online at http://www.freddiemac.com.

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