Item 8.01 Other Events.
Fannie Mae announced today that it has determined to take a valuation allowance
against its deferred tax asset. While the amount of the valuation allowance has
not yet been determined, it is likely to be substantially all of the value of
the deferred tax asset as of September 30, 2008.
The company is in the process of completing its Quarterly Report on Form 10-Q
for the quarter ended September 30, 2008. Further information concerning the
amount of the valuation allowance and the effect of taking that allowance on the
company's results of operations for the third quarter, as well as other
information such as balance sheet information, including stockholders' equity
and net worth, and results of operations for the third quarter, will be included
in the Form 10-Q when it is filed with the Securities and Exchange Commission.
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