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

Ref CPI and Index Ratios for July 2003

Contact: Office of Financing       202-504-3550

DESCRIPTION:                            Series A-2012
CUSIP NUMBER:                           9128277J5
DATED DATE:                             January 15, 2002
ORIGINAL ISSUE DATE:                    January 15, 2002
ADDITIONAL ISSUE DATE:
MATURITY DATE:                          January 15, 2012
Ref CPI on DATED DATE:                  177.56452
TABLE FOR MONTH OF:                     July 2003
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) March 2003                  184.2
CPI-U (NSA) April 2003                  183.8
CPI-U (NSA) May 2003                    183.5

Month   Calendar Day    Year    Ref CPI       Index Ratio

July            1       2003    183.80000       1.03512
July            2       2003    183.79032       1.03506
July            3       2003    183.78065       1.03501
July            4       2003    183.77097       1.03495
July            5       2003    183.76129       1.03490
July            6       2003    183.75161       1.03484
July            7       2003    183.74194       1.03479
July            8       2003    183.73226       1.03474
July            9       2003    183.72258       1.03468
July            10      2003    183.71290       1.03463
July            11      2003    183.70323       1.03457
July            12      2003    183.69355       1.03452
July            13      2003    183.68387       1.03446
July            14      2003    183.67419       1.03441
July            15      2003    183.66452       1.03435
July            16      2003    183.65484       1.03430
July            17      2003    183.64516       1.03424
July            18      2003    183.63548       1.03419
July            19      2003    183.62581       1.03414
July            20      2003    183.61613       1.03408
July            21      2003    183.60645       1.03403
July            22      2003    183.59677       1.03397
July            23      2003    183.58710       1.03392
July            24      2003    183.57742       1.03386
July            25      2003    183.56774       1.03381
July            26      2003    183.55806       1.03375
July            27      2003    183.54839       1.03370
July            28      2003    183.53871       1.03365
July            29      2003    183.52903       1.03359
July            30      2003    183.51935       1.03354
July            31      2003    183.50968       1.03348