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3-5/8% TREASURY 5-YEAR INFLATION-INDEXED NOTES

Ref CPI and Index Ratios for July 2001

Contact: Office of Financing       202-504-3550

DESCRIPTION:                            Series J-2002
CUSIP NUMBER:                           9128273A8
DATED DATE:                             July 15, 1997
ORIGINAL ISSUE DATE:                    July 15, 1997
ADDITIONAL ISSUE DATE:                  October 15, 1997
MATURITY DATE:                          July 15, 2002
Ref CPI on DATED DATE:                  160.15484
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       1.10456
July            2       2001    176.92581       1.10472
July            3       2001    176.95161       1.10488
July            4       2001    176.97742       1.10504
July            5       2001    177.00323       1.10520
July            6       2001    177.02903       1.10536
July            7       2001    177.05484       1.10552
July            8       2001    177.08065       1.10568
July            9       2001    177.10645       1.10585
July            10      2001    177.13226       1.10601
July            11      2001    177.15806       1.10617
July            12      2001    177.18387       1.10633
July            13      2001    177.20968       1.10649
July            14      2001    177.23548       1.10665
July            15      2001    177.26129       1.10681
July            16      2001    177.28710       1.10697
July            17      2001    177.31290       1.10713
July            18      2001    177.33871       1.10730
July            19      2001    177.36452       1.10746
July            20      2001    177.39032       1.10762
July            21      2001    177.41613       1.10778
July            22      2001    177.44194       1.10794
July            23      2001    177.46774       1.10810
July            24      2001    177.49355       1.10826
July            25      2001    177.51935       1.10842
July            26      2001    177.54516       1.10858
July            27      2001    177.57097       1.10875
July            28      2001    177.59677       1.10891
July            29      2001    177.62258       1.10907
July            30      2001    177.64839       1.10923
July            31      2001    177.67419       1.10939