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3-3/8% 30-1/2-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for November 2004

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            TIPS of April 2032
CUSIP NUMBER:                           912810FQ6
DATED DATE:                             October 15, 2001
ORIGINAL ISSUE DATE:                    October 15, 2001
ADDITIONAL ISSUE DATE:                  N/A
MATURITY DATE:                          April 15, 2032
Ref CPI on DATED DATE:                  177.50000
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       1.06761
November        2       2004    189.51333       1.06768
November        3       2004    189.52667       1.06776
November        4       2004    189.54000       1.06783
November        5       2004    189.55333       1.06791
November        6       2004    189.56667       1.06798
November        7       2004    189.58000       1.06806
November        8       2004    189.59333       1.06813
November        9       2004    189.60667       1.06821
November        10      2004    189.62000       1.06828
November        11      2004    189.63333       1.06836
November        12      2004    189.64667       1.06843
November        13      2004    189.66000       1.06851
November        14      2004    189.67333       1.06858
November        15      2004    189.68667       1.06866
November        16      2004    189.70000       1.06873
November        17      2004    189.71333       1.06881
November        18      2004    189.72667       1.06888
November        19      2004    189.74000       1.06896
November        20      2004    189.75333       1.06903
November        21      2004    189.76667       1.06911
November        22      2004    189.78000       1.06918
November        23      2004    189.79333       1.06926
November        24      2004    189.80667       1.06933
November        25      2004    189.82000       1.06941
November        26      2004    189.83333       1.06948
November        27      2004    189.84667       1.06956
November        28      2004    189.86000       1.06963
November        29      2004    189.87333       1.06971
November        30      2004    189.88667       1.06978