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

Ref CPI and Index Ratios for October 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:                     October 2004
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) June 2004                           189.7
CPI-U (NSA) July 2004                           189.4
CPI-U (NSA) August 2004                         189.5

Month   Calendar Day    Year    Ref CPI       Index Ratio

October         1       2004    189.40000       1.03123
October         2       2004    189.40323       1.03125
October         3       2004    189.40645       1.03126
October         4       2004    189.40968       1.03128
October         5       2004    189.41290       1.03130
October         6       2004    189.41613       1.03132
October         7       2004    189.41935       1.03133
October         8       2004    189.42258       1.03135
October         9       2004    189.42581       1.03137
October         10      2004    189.42903       1.03139
October         11      2004    189.43226       1.03140
October         12      2004    189.43548       1.03142
October         13      2004    189.43871       1.03144
October         14      2004    189.44194       1.03146
October         15      2004    189.44516       1.03147
October         16      2004    189.44839       1.03149
October         17      2004    189.45161       1.03151
October         18      2004    189.45484       1.03153
October         19      2004    189.45806       1.03154
October         20      2004    189.46129       1.03156
October         21      2004    189.46452       1.03158
October         22      2004    189.46774       1.03160
October         23      2004    189.47097       1.03161
October         24      2004    189.47419       1.03163
October         25      2004    189.47742       1.03165
October         26      2004    189.48065       1.03167
October         27      2004    189.48387       1.03168
October         28      2004    189.48710       1.03170
October         29      2004    189.49032       1.03172
October         30      2004    189.49355       1.03174
October         31      2004    189.49677       1.03175