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3-3/8% TREASURY 30-1/2-YEAR INFLATION-INDEXED BONDS

Ref CPI and Index Ratios for May 2004

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            Bonds of April 2032
CUSIP NUMBER:                           912810FQ6
DATED DATE:                             October 15, 2001
ORIGINAL ISSUE DATE:                    October 15, 2001
ADDITIONAL ISSUE DATE:
MATURITY DATE:                          April 15, 2032
Ref CPI on DATED DATE:                  177.50000
TABLE FOR MONTH OF:                     May 2004
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) January 2004                185.2
CPI-U (NSA) February 2004               186.2
CPI-U (NSA) March 2004                  187.4

Month   Calendar Day    Year    Ref CPI       Index Ratio

May             1       2004    186.20000       1.04901
May             2       2004    186.23871       1.04923
May             3       2004    186.27742       1.04945
May             4       2004    186.31613       1.04967
May             5       2004    186.35484       1.04989
May             6       2004    186.39355       1.05010
May             7       2004    186.43226       1.05032
May             8       2004    186.47097       1.05054
May             9       2004    186.50968       1.05076
May             10      2004    186.54839       1.05098
May             11      2004    186.58710       1.05119
May             12      2004    186.62581       1.05141
May             13      2004    186.66452       1.05163
May             14      2004    186.70323       1.05185
May             15      2004    186.74194       1.05207
May             16      2004    186.78065       1.05229
May             17      2004    186.81935       1.05250
May             18      2004    186.85806       1.05272
May             19      2004    186.89677       1.05294
May             20      2004    186.93548       1.05316
May             21      2004    186.97419       1.05338
May             22      2004    187.01290       1.05359
May             23      2004    187.05161       1.05381
May             24      2004    187.09032       1.05403
May             25      2004    187.12903       1.05425
May             26      2004    187.16774       1.05447
May             27      2004    187.20645       1.05468
May             28      2004    187.24516       1.05490
May             29      2004    187.28387       1.05512
May             30      2004    187.32258       1.05534
May             31      2004    187.36129       1.05556