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

Ref CPI and Index Ratios for January 2003

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:                     January 2003
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) September 2002              181.0
CPI-U (NSA) October 2002                181.3
CPI-U (NSA) November 2002               181.3

Month   Calendar Day    Year     Ref CPI      Index Ratio

January         1       2003    181.30000       1.14431
January         2       2003    181.30000       1.14431
January         3       2003    181.30000       1.14431
January         4       2003    181.30000       1.14431
January         5       2003    181.30000       1.14431
January         6       2003    181.30000       1.14431
January         7       2003    181.30000       1.14431
January         8       2003    181.30000       1.14431
January         9       2003    181.30000       1.14431
January         10      2003    181.30000       1.14431
January         11      2003    181.30000       1.14431
January         12      2003    181.30000       1.14431
January         13      2003    181.30000       1.14431
January         14      2003    181.30000       1.14431
January         15      2003    181.30000       1.14431
January         16      2003    181.30000       1.14431
January         17      2003    181.30000       1.14431
January         18      2003    181.30000       1.14431
January         19      2003    181.30000       1.14431
January         20      2003    181.30000       1.14431
January         21      2003    181.30000       1.14431
January         22      2003    181.30000       1.14431
January         23      2003    181.30000       1.14431
January         24      2003    181.30000       1.14431
January         25      2003    181.30000       1.14431
January         26      2003    181.30000       1.14431
January         27      2003    181.30000       1.14431
January         28      2003    181.30000       1.14431
January         29      2003    181.30000       1.14431
January         30      2003    181.30000       1.14431
January         31      2003    181.30000       1.14431