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

Ref CPI and Index Ratios for March 2005

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:                     March 2005
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) November 2004               191.0
CPI-U (NSA) December 2004               190.3
CPI-U (NSA) January 2005                190.7

Month   Calendar Day    Year    Ref CPI       Index Ratio

March           1       2005    190.30000       1.03613
March           2       2005    190.31290       1.03620
March           3       2005    190.32581       1.03627
March           4       2005    190.33871       1.03634
March           5       2005    190.35161       1.03641
March           6       2005    190.36452       1.03648
March           7       2005    190.37742       1.03655
March           8       2005    190.39032       1.03662
March           9       2005    190.40323       1.03669
March           10      2005    190.41613       1.03676
March           11      2005    190.42903       1.03683
March           12      2005    190.44194       1.03690
March           13      2005    190.45484       1.03697
March           14      2005    190.46774       1.03704
March           15      2005    190.48065       1.03711
March           16      2005    190.49355       1.03718
March           17      2005    190.50645       1.03725
March           18      2005    190.51935       1.03732
March           19      2005    190.53226       1.03739
March           20      2005    190.54516       1.03746
March           21      2005    190.55806       1.03753
March           22      2005    190.57097       1.03760
March           23      2005    190.58387       1.03767
March           24      2005    190.59677       1.03774
March           25      2005    190.60968       1.03781
March           26      2005    190.62258       1.03788
March           27      2005    190.63548       1.03795
March           28      2005    190.64839       1.03803
March           29      2005    190.66129       1.03810
March           30      2005    190.67419       1.03817
March           31      2005    190.68710       1.03824