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3-5/8% TREASURY 10-YEAR INFLATION-INDEXED NOTES

Ref CPI and Index Ratios for July 2004

Contact: Office of Financing      202-504-3550
DESCRIPTION:                            Series A-2008
CUSIP NUMBER:                           9128273T7
DATED DATE:                             January 15, 1998
ORIGINAL ISSUE DATE:                    January 15, 1998
ADDITIONAL ISSUE DATE:                  October 15, 1998
MATURITY DATE:                          January 15, 2008
Ref CPI on DATED DATE:                  161.55484
TABLE FOR MONTH OF:                     July 2004
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) March 2004                  187.4
CPI-U (NSA) April 2004                  188.0
CPI-U (NSA) May 2004                    189.1

Month   Calendar Day    Year    Ref CPI       Index Ratio

July            1       2004    188.00000       1.16369
July            2       2004    188.03548       1.16391
July            3       2004    188.07097       1.16413
July            4       2004    188.10645       1.16435
July            5       2004    188.14194       1.16457
July            6       2004    188.17742       1.16479
July            7       2004    188.21290       1.16501
July            8       2004    188.24839       1.16523
July            9       2004    188.28387       1.16545
July            10      2004    188.31935       1.16567
July            11      2004    188.35484       1.16589
July            12      2004    188.39032       1.16611
July            13      2004    188.42581       1.16633
July            14      2004    188.46129       1.16655
July            15      2004    188.49677       1.16677
July            16      2004    188.53226       1.16699
July            17      2004    188.56774       1.16721
July            18      2004    188.60323       1.16743
July            19      2004    188.63871       1.16765
July            20      2004    188.67419       1.16786
July            21      2004    188.70968       1.16808
July            22      2004    188.74516       1.16830
July            23      2004    188.78065       1.16852
July            24      2004    188.81613       1.16874
July            25      2004    188.85161       1.16896
July            26      2004    188.88710       1.16918
July            27      2004    188.92258       1.16940
July            28      2004    188.95806       1.16962
July            29      2004    188.99355       1.16984
July            30      2004    189.02903       1.17006
July            31      2004    189.06452       1.17028