Freddie Mac Names Ralph Boyd, Jr. as General Counsel

March 15, 2004

Experienced Litigator and Leader to Head Legal and Government Relations Functions

MCLEAN, Va., -- Freddie Mac (NYSE: FRE - News) announced that Ralph Boyd, Jr. will join the company as executive vice president and general counsel, effective April 1, 2004. Boyd will head Freddie Mac's Legal and Government Relations operations, and will report to Chairman and CEO Richard Syron. Joan Donoghue, acting general counsel since last August, will assume the new position of principal deputy general counsel, reporting to Boyd and supervising the operations of the Legal Division.

"I am pleased to welcome Ralph to our team. He is an excellent lawyer and tremendous leader," Syron explained. "This is a critical time in Freddie Mac's history, and Ralph will play an important role in helping shape the company's future. Under his leadership and guidance, we will make Freddie Mac an even stronger company that delivers on our mission to create a nation of homeowners."

"I also want to thank Joan Donoghue for her counsel, integrity and leadership through a very challenging time for the company," Syron said. "She has demonstrated an exceptional commitment to Freddie Mac and has provided wise counsel to me during my first months at the company."

As executive-vice president and general counsel, Boyd will supervise the company's legal operations, provide legal advice and representation on all aspects of its activities, and ensure the highest in corporate governance standards. In addition, Boyd will oversee regulatory relations and direct the corporation's legislative activities at the federal, state and local levels.

Most recently, Boyd has been a senior partner with the law firm Alston& Bird LLP, leading its Washington, DC litigation practice. His civil cases have included complex matters involving fraud allegations, products liability, proxy contests and trade secrets. He has counseled audit committees and corporate boards on Sarbanes-Oxley issues, and also has represented officers, directors and other fiduciaries in government investigations and litigation. In addition, earlier this year, he joined the board of directors of Hughes Electronics Corporation.

Prior to joining Alston& Bird, Boyd was U.S. assistant attorney general and head of the Justice Department's Civil Rights Division, which is responsible for enforcing federal laws prohibiting discrimination on the basis of race, gender, handicap, religion and national origin. As assistant attorney general, he supervised more than 375 attorneys. During his tenure, he restructured the Civil Rights Division to expand the responsibility and visibility of attorneys of color in leadership positions. He also oversaw the investigation of the 2000 presidential elections in Florida; investigations of backlash hate crimes following the September 11, 2001 attacks; and fair lending and predatory lending cases.

From 1998 to 2001, Boyd was a trial partner with Goodwin Procter LLP in Boston, and before that, he served for six years as an assistant U.S. attorney in Boston, specializing in the investigation and prosecution of major crimes. He also was an associate at Ropes& Gray in Boston from 1987 to 1991. Following law school, Boyd served as a law clerk for U.S. District Court Judge Joseph Young in the District of Maryland.

Boyd holds a law degree from Harvard University, where he was president of the Harvard Defenders and editor of the Civil Rights Civil Liberties Law Review. He received a B.A. degree from Haverford College in 1979 and an honorary Doctor of Law degree from Suffolk University in 2001.

Source: Freddie Mac

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