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

Ref CPI and Index Ratios for July 2004

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            Series A-2012
CUSIP NUMBER:                           9128277J5
DATED DATE:                             January 15, 2002
ORIGINAL ISSUE DATE:                    January 15, 2002
ADDITIONAL ISSUE DATE:
MATURITY DATE:                          January 15, 2012
Ref CPI on DATED DATE:                  177.56452
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       1.05877
July            2       2004    188.03548       1.05897
July            3       2004    188.07097       1.05917
July            4       2004    188.10645       1.05937
July            5       2004    188.14194       1.05957
July            6       2004    188.17742       1.05977
July            7       2004    188.21290       1.05997
July            8       2004    188.24839       1.06017
July            9       2004    188.28387       1.06037
July            10      2004    188.31935       1.06057
July            11      2004    188.35484       1.06077
July            12      2004    188.39032       1.06097
July            13      2004    188.42581       1.06117
July            14      2004    188.46129       1.06137
July            15      2004    188.49677       1.06157
July            16      2004    188.53226       1.06177
July            17      2004    188.56774       1.06197
July            18      2004    188.60323       1.06217
July            19      2004    188.63871       1.06237
July            20      2004    188.67419       1.06257
July            21      2004    188.70968       1.06277
July            22      2004    188.74516       1.06297
July            23      2004    188.78065       1.06317
July            24      2004    188.81613       1.06337
July            25      2004    188.85161       1.06357
July            26      2004    188.88710       1.06377
July            27      2004    188.92258       1.06397
July            28      2004    188.95806       1.06417
July            29      2004    188.99355       1.06437
July            30      2004    189.02903       1.06457
July            31      2004    189.06452       1.06477