Released on: September 3, 2008, 1:07 am

Press Release Author: Richard Drake

Industry: Financial

Press Release Summary: Cornerstone Worldwide are thought to be acquiring stock in
the GSEs, Freddie Mac and Fannie Mae following a 20% one-day drop in values

Press Release Body: Cornerstone Worldwide is reportedly buying stock in beleaguered
Government Sponsored Enterprises, Freddie Mac and Fannie Mae following a sharp fall
in the prices of both mortgage companies on Monday.

Cornerstone Worldwide are apparently convinced that the stock is underpriced
considering the explicit guarantee of government support which was signed into law
last month following intervention by the US treasury Secretary Hank Paulson.

“They’re unlikely to hold the stock for long”, said a source close to Cornerstone
Worldwide. “If anything, they’ll hold until the stock reaches technical resistance
levels before dumping it. They should make a sizeable profit”, she speculated.

Both companies have been hobbled by record delinquencies and rising losses as they
struggle to shore up their weakened balance sheets amid the worst US housing slump
since the Great Depression.

Cornerstone Worldwide believe that it is becoming more likely that the US Treasury
will be forced to re-capitalize the companies who, between them, own or guarantee
half of the £12 trillion US mortgage market.


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