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

Ref CPI and Index Ratios for July 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:                     July 2005
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) March 2005                  193.3
CPI-U (NSA) April 2005                  194.6
CPI-U (NSA) May 2005                    194.4

Month   Calendar Day    Year    Ref CPI       Index Ratio

July            1       2005    194.60000       1.11810
July            2       2005    194.59355       1.11806
July            3       2005    194.58710       1.11803
July            4       2005    194.58065       1.11799
July            5       2005    194.57419       1.11795
July            6       2005    194.56774       1.11792
July            7       2005    194.56129       1.11788
July            8       2005    194.55484       1.11784
July            9       2005    194.54839       1.11780
July            10      2005    194.54194       1.11777
July            11      2005    194.53548       1.11773
July            12      2005    194.52903       1.11769
July            13      2005    194.52258       1.11766
July            14      2005    194.51613       1.11762
July            15      2005    194.50968       1.11758
July            16      2005    194.50323       1.11754
July            17      2005    194.49677       1.11751
July            18      2005    194.49032       1.11747
July            19      2005    194.48387       1.11743
July            20      2005    194.47742       1.11740
July            21      2005    194.47097       1.11736
July            22      2005    194.46452       1.11732
July            23      2005    194.45806       1.11729
July            24      2005    194.45161       1.11725
July            25      2005    194.44516       1.11721
July            26      2005    194.43871       1.11717
July            27      2005    194.43226       1.11714
July            28      2005    194.42581       1.11710
July            29      2005    194.41935       1.11706
July            30      2005    194.41290       1.11703
July            31      2005    194.40645       1.11699