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3-1/2% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for January 2005

Contact: Office of Financing      202-504-3550
DESCRIPTION:                            Series A-2011
CUSIP NUMBER:                           9128276R8
DATED DATE:                             January 15, 2001
ORIGINAL ISSUE DATE:                    January 16, 2001
ADDITIONAL ISSUE DATE:                  July 16, 2001
MATURITY DATE:                          January 15, 2011
Ref CPI on DATED DATE:                  174.04516
TABLE FOR MONTH OF:                     January 2005
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) September 2004              189.9
CPI-U (NSA) October 2004                190.9
CPI-U (NSA) November 2004               191.0

Month   Calendar Day    Year    Ref CPI       Index Ratio

January         1       2005    190.90000       1.09684
January         2       2005    190.90323       1.09686
January         3       2005    190.90645       1.09688
January         4       2005    190.90968       1.09690
January         5       2005    190.91290       1.09692
January         6       2005    190.91613       1.09693
January         7       2005    190.91935       1.09695
January         8       2005    190.92258       1.09697
January         9       2005    190.92581       1.09699
January         10      2005    190.92903       1.09701
January         11      2005    190.93226       1.09703
January         12      2005    190.93548       1.09705
January         13      2005    190.93871       1.09706
January         14      2005    190.94194       1.09708
January         15      2005    190.94516       1.09710
January         16      2005    190.94839       1.09712
January         17      2005    190.95161       1.09714
January         18      2005    190.95484       1.09716
January         19      2005    190.95806       1.09718
January         20      2005    190.96129       1.09719
January         21      2005    190.96452       1.09721
January         22      2005    190.96774       1.09723
January         23      2005    190.97097       1.09725
January         24      2005    190.97419       1.09727
January         25      2005    190.97742       1.09729
January         26      2005    190.98065       1.09731
January         27      2005    190.98387       1.09732
January         28      2005    190.98710       1.09734
January         29      2005    190.99032       1.09736
January         30      2005    190.99355       1.09738
January         31      2005    190.99677       1.09740