ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Friday, September 19, 2008

For More Information, Please Contact:

Louise Marshall, ISDA New York, 212-901-6014, lmarshall@isda.org

Cesaltine Gregorio, ISDA New York, 212-901-6019, cgregorio@isda.org

ISDA PUBLISHES FIRST LIST OF DELIVERABLE OBLIGATIONS FOR

FANNIE MAE, FREDDIE MAC

NEW YORK, Friday, September 19, 2008 – The International Swaps and Derivatives Association, Inc. (ISDA) today published the first list of deliverable obligations to be included in the CDS Protocols for the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac), the US government sponsored entities that recently went into conservatorship.

The first list of deliverable obligations will be supplemented and modified following comments from market participants according to procedures that ISDA has published on its website. No additional obligations may be submitted after 5 pm New York time on Wednesday, September 24, 2008. The final deadline to submit objections to obligations on the lists is noon NY time on Friday, September 26, 2008.

ISDA expects to publish the final lists of Deliverable Obligations, along with the final version of the Protocols for Fannie Mae and Freddie Mac, on Monday, September 29.

The first list of deliverable obligations and additional information are available on the Association's website at www.isda.org.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has approximately 850 member institutions from 56 countries on six continents. These members include most of the world’s major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities.  Information about ISDA and its activities is available on the Association's web site: www.isda.org.

^®ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.