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3-3/8% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for November 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:                  N/A
MATURITY DATE:                          January 15, 2012
Ref CPI on DATED DATE:                  177.56452
TABLE FOR MONTH OF:                     November 2004
NUMBER OF DAYS IN MONTH:                30

CPI-U (NSA) July 2004                   189.4
CPI-U (NSA) August 2004                 189.5
CPI-U (NSA) September 2004              189.9

Month   Calendar Day    Year    Ref CPI       Index Ratio

November        1       2004    189.50000       1.06722
November        2       2004    189.51333       1.06729
November        3       2004    189.52667       1.06737
November        4       2004    189.54000       1.06744
November        5       2004    189.55333       1.06752
November        6       2004    189.56667       1.06759
November        7       2004    189.58000       1.06767
November        8       2004    189.59333       1.06774
November        9       2004    189.60667       1.06782
November        10      2004    189.62000       1.06789
November        11      2004    189.63333       1.06797
November        12      2004    189.64667       1.06804
November        13      2004    189.66000       1.06812
November        14      2004    189.67333       1.06819
November        15      2004    189.68667       1.06827
November        16      2004    189.70000       1.06834
November        17      2004    189.71333       1.06842
November        18      2004    189.72667       1.06849
November        19      2004    189.74000       1.06857
November        20      2004    189.75333       1.06864
November        21      2004    189.76667       1.06872
November        22      2004    189.78000       1.06879
November        23      2004    189.79333       1.06887
November        24      2004    189.80667       1.06894
November        25      2004    189.82000       1.06902
November        26      2004    189.83333       1.06909
November        27      2004    189.84667       1.06917
November        28      2004    189.86000       1.06925
November        29      2004    189.87333       1.06932
November        30      2004    189.88667       1.06940