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1-5/8% 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-2015
CUSIP NUMBER:                           912828DH0
DATED DATE:                             January 15, 2005
ORIGINAL ISSUE DATE:                    January 18, 2005
ADDITIONAL ISSUE DATE:                  April 15, 2005
MATURITY DATE:                          January 15, 2015
Ref CPI on DATED DATE:                  190.94516
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       1.01914
July            2       2005    194.59355       1.01911
July            3       2005    194.58710       1.01907
July            4       2005    194.58065       1.01904
July            5       2005    194.57419       1.01901
July            6       2005    194.56774       1.01897
July            7       2005    194.56129       1.01894
July            8       2005    194.55484       1.01890
July            9       2005    194.54839       1.01887
July            10      2005    194.54194       1.01884
July            11      2005    194.53548       1.01880
July            12      2005    194.52903       1.01877
July            13      2005    194.52258       1.01874
July            14      2005    194.51613       1.01870
July            15      2005    194.50968       1.01867
July            16      2005    194.50323       1.01863
July            17      2005    194.49677       1.01860
July            18      2005    194.49032       1.01857
July            19      2005    194.48387       1.01853
July            20      2005    194.47742       1.01850
July            21      2005    194.47097       1.01847
July            22      2005    194.46452       1.01843
July            23      2005    194.45806       1.01840
July            24      2005    194.45161       1.01836
July            25      2005    194.44516       1.01833
July            26      2005    194.43871       1.01830
July            27      2005    194.43226       1.01826
July            28      2005    194.42581       1.01823
July            29      2005    194.41935       1.01819
July            30      2005    194.41290       1.01816
July            31      2005    194.40645       1.01813