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3-1/2% TREASURY 10-YEAR INFLATION-INDEXED NOTES

Ref CPI and Index Ratios for May 2004

Contact: Office of Financing      202-504-3550
DESCRIPTION:                            Series A-2011
CUSIP NUMBER:                           9128276R8
DATED DATE:                             January 15, 2001
ORIGINAL ISSUE DATE:                    January 16, 2001
ADDITIONAL ISSUE DATE:                  July 16, 2001
MATURITY DATE:                          January 15, 2011
Ref CPI on DATED DATE:                  174.04516
TABLE FOR MONTH OF:                     May 2004
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) January 2004                185.2
CPI-U (NSA) February 2004               186.2
CPI-U (NSA) March 2004                  187.4

Month   Calendar Day    Year    Ref CPI       Index Ratio

May             1       2004    186.20000       1.06984
May             2       2004    186.23871       1.07006
May             3       2004    186.27742       1.07028
May             4       2004    186.31613       1.07050
May             5       2004    186.35484       1.07073
May             6       2004    186.39355       1.07095
May             7       2004    186.43226       1.07117
May             8       2004    186.47097       1.07139
May             9       2004    186.50968       1.07162
May             10      2004    186.54839       1.07184
May             11      2004    186.58710       1.07206
May             12      2004    186.62581       1.07228
May             13      2004    186.66452       1.07251
May             14      2004    186.70323       1.07273
May             15      2004    186.74194       1.07295
May             16      2004    186.78065       1.07317
May             17      2004    186.81935       1.07340
May             18      2004    186.85806       1.07362
May             19      2004    186.89677       1.07384
May             20      2004    186.93548       1.07406
May             21      2004    186.97419       1.07429
May             22      2004    187.01290       1.07451
May             23      2004    187.05161       1.07473
May             24      2004    187.09032       1.07495
May             25      2004    187.12903       1.07518
May             26      2004    187.16774       1.07540
May             27      2004    187.20645       1.07562
May             28      2004    187.24516       1.07584
May             29      2004    187.28387       1.07606
May             30      2004    187.32258       1.07629
May             31      2004    187.36129       1.07651