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3% TREASURY 10-YEAR INFLATION-INDEXED NOTES

Ref CPI and Index Ratios for November 2003

Contact: Office of Financing       202-504-3550
DESCRIPTION:                           Series C-2012
CUSIP NUMBER:                          912828AF7
DATED DATE:                            July 15, 2002
ORIGINAL ISSUE DATE:                   July 15, 2002
ADDITIONAL ISSUE DATE:                 October 15, 2002
                                       January 15, 2003
MATURITY DATE:                         July 15, 2012
Ref CPI on DATED DATE:                 179.80000
TABLE FOR MONTH OF:                    November 2003
NUMBER OF DAYS IN MONTH:               30

CPI-U (NSA) July 2003                  183.9
CPI-U (NSA) August 2003                184.6
CPI-U (NSA) September 2003             185.2

Month   Calendar Day    Year    Ref CPI       Index Ratio

November        1       2003    184.60000       1.02670
November        2       2003    184.62000       1.02681
November        3       2003    184.64000       1.02692
November        4       2003    184.66000       1.02703
November        5       2003    184.68000       1.02714
November        6       2003    184.70000       1.02725
November        7       2003    184.72000       1.02736
November        8       2003    184.74000       1.02747
November        9       2003    184.76000       1.02759
November        10      2003    184.78000       1.02770
November        11      2003    184.80000       1.02781
November        12      2003    184.82000       1.02792
November        13      2003    184.84000       1.02803
November        14      2003    184.86000       1.02814
November        15      2003    184.88000       1.02825
November        16      2003    184.90000       1.02836
November        17      2003    184.92000       1.02848
November        18      2003    184.94000       1.02859
November        19      2003    184.96000       1.02870
November        20      2003    184.98000       1.02881
November        21      2003    185.00000       1.02892
November        22      2003    185.02000       1.02903
November        23      2003    185.04000       1.02914
November        24      2003    185.06000       1.02925
November        25      2003    185.08000       1.02937
November        26      2003    185.10000       1.02948
November        27      2003    185.12000       1.02959
November        28      2003    185.14000       1.02970
November        29      2003    185.16000       1.02981
November        30      2003    185.18000       1.02992