Fannie Mae-No Politics (FNMA)

[FOFreddie]

Good Morning Rodney5

Thank you for all your research and work on behalf of GSE shareholders.

I apologize for not following up earlier about the shareholder lists but I do not think I would have an easier time getting the information nor do I think it is material to our cause at the current time. Unfortunately, the management company for the Growth Fund of America has sold all of its shares and taken their tax losses so we do not have a known large common shareholder except Ackman at this point.

In the near term the most important shareholder action is the Lamberth court case and it is clear that the class action lawyers have access to all the FMCC common shareholders. Although we probably have 50/50 odds at best it is our best near term catalyst for some shareholder activism. If shareholders win perhaps we may see a large holder appear. I know the potential return for FMCC is small but it is a sizable percentage of the current stock price.

At this point I am just trying to highlight the factual history of the GSEs and add balance to the discussion regarding the future prospects for GSEs shareholders.

Thank you so much for your efforts - I believe they will be rewarded but like many things in life - " timing is everything". Keep the faith and thank you again!