Freddie Mac Names New Board Member

""Freddie Mac's"":http://www.freddiemac.com/ board has a new member. The company announced the election of Steven W. Kohlhagen, Ph.D. to its board of directors.

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Kohlhagen brings more than three decades of experience with him, having held senior executive positions at leading financial institutions, including First Union National Bank (predecessor to Wachovia National Bank), American International Group, Stamford Capital Group, Bankers Trust Corporation, and Lehman Brothers.

He has served since 2001 as an advisory board member of the Stanford Institute for Economic Policy Research and since 2006 as a director of AMETEK Inc., where he is a member of the audit committee. In addition, he is a director of Abtech Holdings Inc., where he is a member of the audit committee, and Reval Inc., where he is a member of the governance and nominating committee.

In the public sector, Kohlhagen's experience encompasses consulting work for the Organization for Economic Cooperation and Development, the U.S. Department of the Treasury, and the Federal Reserve Board. He also served for a time as senior staff economist for the Council of Economic Advisors at the White House.

At Freddie Mac, he will serve on the business and risk committee and the compensation committee.

""Steve is nationally recognized as a leading financial expert with extensive knowledge of mortgage finance and the capital markets,"" said Christopher S. Lynch, Freddie Mac's non-executive chairman. ""He will bring to the board a unique combination of senior executive leadership skills and a deep understanding of economics, modeling and complex financial instruments. Steve will be invaluable to the board during an important time for the housing industry and the nation.""