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1-7/8% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for September 2004

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            Series C-2013
CUSIP NUMBER:                           912828BD1
DATED DATE:                             July 15, 2003
ORIGINAL ISSUE DATE:                    July 15, 2003
ADDITIONAL ISSUE DATE:                  October 15, 2003
MATURITY DATE:                          July 15, 2013
Ref CPI on DATED DATE:                  183.66452
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       1.03286
September       2       2004    189.69000       1.03281
September       3       2004    189.68000       1.03275
September       4       2004    189.67000       1.03270
September       5       2004    189.66000       1.03264
September       6       2004    189.65000       1.03259
September       7       2004    189.64000       1.03253
September       8       2004    189.63000       1.03248
September       9       2004    189.62000       1.03243
September       10      2004    189.61000       1.03237
September       11      2004    189.60000       1.03232
September       12      2004    189.59000       1.03226
September       13      2004    189.58000       1.03221
September       14      2004    189.57000       1.03215
September       15      2004    189.56000       1.03210
September       16      2004    189.55000       1.03204
September       17      2004    189.54000       1.03199
September       18      2004    189.53000       1.03194
September       19      2004    189.52000       1.03188
September       20      2004    189.51000       1.03183
September       21      2004    189.50000       1.03177
September       22      2004    189.49000       1.03172
September       23      2004    189.48000       1.03166
September       24      2004    189.47000       1.03161
September       25      2004    189.46000       1.03155
September       26      2004    189.45000       1.03150
September       27      2004    189.44000       1.03145
September       28      2004    189.43000       1.03139
September       29      2004    189.42000       1.03134
September       30      2004    189.41000       1.03128