X0202 4 2004-05-25 0 0000310522 FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE FNM 0001026921 MARRON DONALD B C/O FANNIE MAE, 3900 WISCONSIN AVENUE, NW WASHINGTON DC 20016 1 0 0 0 Stock Option (right to buy) 66.6900 2004-05-25 4 A 0 4000.0000 0 A 2005-05-25 2014-05-23 Common Stock 4000.0000 4000.0000 D The options become exercisable in four equal annual installments beginning on the anniversary of the grant date. /s/ Iris Aberbach, Attorney-in-Fact for Donald B. Marron 2004-05-26