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3-3/8% TREASURY 30-1/2-YEAR INFLATION-INDEXED BONDS

Ref CPI and Index Ratios for May 2003

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            Bonds of April 2032
CUSIP NUMBER:                           912810FQ6
DATED DATE:                             October 15, 2001
ORIGINAL ISSUE DATE:                    October 15, 2001
ADDITIONAL ISSUE DATE:
MATURITY DATE:                          April 15, 2032
Ref CPI on DATED DATE:                  177.50000
TABLE FOR MONTH OF:                     May 2003
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) January 2003                181.7
CPI-U (NSA) February 2003               183.1
CPI-U (NSA) March 2003                  184.2

Month   Calendar Day    Year    Ref CPI       Index Ratio

May             1       2003    183.10000       1.03155
May             2       2003    183.13548       1.03175
May             3       2003    183.17097       1.03195
May             4       2003    183.20645       1.03215
May             5       2003    183.24194       1.03235
May             6       2003    183.27742       1.03255
May             7       2003    183.31290       1.03275
May             8       2003    183.34839       1.03295
May             9       2003    183.38387       1.03315
May             10      2003    183.41935       1.03335
May             11      2003    183.45484       1.03355
May             12      2003    183.49032       1.03375
May             13      2003    183.52581       1.03395
May             14      2003    183.56129       1.03415
May             15      2003    183.59677       1.03435
May             16      2003    183.63226       1.03455
May             17      2003    183.66774       1.03475
May             18      2003    183.70323       1.03495
May             19      2003    183.73871       1.03515
May             20      2003    183.77419       1.03535
May             21      2003    183.80968       1.03555
May             22      2003    183.84516       1.03575
May             23      2003    183.88065       1.03595
May             24      2003    183.91613       1.03615
May             25      2003    183.95161       1.03635
May             26      2003    183.98710       1.03655
May             27      2003    184.02258       1.03675
May             28      2003    184.05806       1.03695
May             29      2003    184.09355       1.03715
May             30      2003    184.12903       1.03735
May             31      2003    184.16452       1.03755