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3-3/8% TREASURY 10-YEAR INFLATION-INDEXED NOTES

Ref CPI and Index Ratios for July 2001

Contact: Office of Financing      202-504-3550

DESCRIPTION:                            Series A-2007
CUSIP NUMBER:                           9128272M3
DATED DATE:                             January 15, 1997
ORIGINAL ISSUE DATE:                    February 6, 1997
ADDITIONAL ISSUE DATE:                  April 15, 1997
MATURITY DATE:                          January 15, 2007
Ref CPI on DATED DATE:                  158.43548
TABLE FOR MONTH OF:                     July 2001
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) March 2001                  176.2
CPI-U (NSA) April 2001                  176.9
CPI-U (NSA) May 2001                    177.7

Month   Calendar Day    Year    Ref CPI       Index Ratio

July            1       2001    176.90000       1.11654
July            2       2001    176.92581       1.11671
July            3       2001    176.95161       1.11687
July            4       2001    176.97742       1.11703
July            5       2001    177.00323       1.11719
July            6       2001    177.02903       1.11736
July            7       2001    177.05484       1.11752
July            8       2001    177.08065       1.11768
July            9       2001    177.10645       1.11785
July            10      2001    177.13226       1.11801
July            11      2001    177.15806       1.11817
July            12      2001    177.18387       1.11833
July            13      2001    177.20968       1.11850
July            14      2001    177.23548       1.11866
July            15      2001    177.26129       1.11882
July            16      2001    177.28710       1.11899
July            17      2001    177.31290       1.11915
July            18      2001    177.33871       1.11931
July            19      2001    177.36452       1.11947
July            20      2001    177.39032       1.11964
July            21      2001    177.41613       1.11980
July            22      2001    177.44194       1.11996
July            23      2001    177.46774       1.12013
July            24      2001    177.49355       1.12029
July            25      2001    177.51935       1.12045
July            26      2001    177.54516       1.12061
July            27      2001    177.57097       1.12078
July            28      2001    177.59677       1.12094
July            29      2001    177.62258       1.12110
July            30      2001    177.64839       1.12127
July            31      2001    177.67419       1.12143