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3-1/2% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for September 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:                     September 2004
NUMBER OF DAYS IN MONTH:                30

CPI-U (NSA) May 2004                    189.1
CPI-U (NSA) June 2004                   189.7
CPI-U (NSA) July 2004                   189.4

Month   Calendar Day    Year    Ref CPI       Index Ratio

September       1       2004    189.70000       1.08995
September       2       2004    189.69000       1.08989
September       3       2004    189.68000       1.08983
September       4       2004    189.67000       1.08977
September       5       2004    189.66000       1.08972
September       6       2004    189.65000       1.08966
September       7       2004    189.64000       1.08960
September       8       2004    189.63000       1.08954
September       9       2004    189.62000       1.08949
September       10      2004    189.61000       1.08943
September       11      2004    189.60000       1.08937
September       12      2004    189.59000       1.08931
September       13      2004    189.58000       1.08926
September       14      2004    189.57000       1.08920
September       15      2004    189.56000       1.08914
September       16      2004    189.55000       1.08909
September       17      2004    189.54000       1.08903
September       18      2004    189.53000       1.08897
September       19      2004    189.52000       1.08891
September       20      2004    189.51000       1.08886
September       21      2004    189.50000       1.08880
September       22      2004    189.49000       1.08874
September       23      2004    189.48000       1.08868
September       24      2004    189.47000       1.08863
September       25      2004    189.46000       1.08857
September       26      2004    189.45000       1.08851
September       27      2004    189.44000       1.08845
September       28      2004    189.43000       1.08840
September       29      2004    189.42000       1.08834
September       30      2004    189.41000       1.08828