EXHIBIT 99.1

Fannie Mae Debt Outstanding1/
2002 through October 31, 2005

Debt Outstanding (in millions)	12/31/02		12/31/03		12/31/04		10/31/05
Discount Notes	$	134,312	$	137,528	$	143,455	$	70,397
Benchmark Bills		156,750		191,315		157,501		71,500
FX Discount Notes		—		1,540		7,630		1,638
Other Short Term 2/		12,735		15,622		11,737		7,051
Total Short Term	$	303,797	$	346,005	$	320,323	$	150,586
Short term debt average maturity (in days)		76		100		61		65
Benchmark Notes & Bonds	$	287,418	$	282,602	$	267,091	$	265,316
Callable Benchmark Notes		33,750		44,250		31,250		22,370
Subordinated Benchmark Notes		8,500		12,500		12,500		12,500
Final Maturity Amortizing Notes		—		—		750		1,797
Other Callable & Noncallable Notes & Bonds 3/		211,063		270,800		312,724		287,052
Total Long Term	$	540,731	$	610,152	$	624,315	$	589,035
Long term debt average maturity (in months)		58		54		47		49
Total Debt Outstanding	$	844,528	$	956,157	$	944,638	$	739,621
Total debt average maturity (in months)		40		36		32		39

Notes:
1/	Amounts reflect redemption values, which exclude the effect of currency adjustments, debt basis adjustments, and amortization of discounts, premiums, issuance costs, and hedging results.
2/	Other Short Term includes coupon bearing short term notes, dollar rolls, overnight Fed funds, Benchmark repos, investment agreements, and LIP security lending.
3/	Other Callable & Noncallable Notes & Bonds includes all long-term non-Benchmark Securities such as globals, zero-coupon securities, medium-term notes, and other long-term debt securities.