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2-3/8% 20-1/2-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for November 2005

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            TIPS of January 2025
CUSIP NUMBER:                           912810FR4
DATED DATE:                             July 15, 2004
ORIGINAL ISSUE DATE:                    July 30, 2004
ADDITIONAL ISSUE DATE:                  January 31, 2005
July 29, 2005
MATURITY DATE:                          January 15, 2025
Ref CPI on DATED DATE:                  188.49677
TABLE FOR MONTH OF:                     November 2005
NUMBER OF DAYS IN MONTH:                30

CPI-U (NSA) July 2005                   195.4
CPI-U (NSA) August 2005                 196.4
CPI-U (NSA) September 2005              198.8

Month   Calendar Day    Year    Ref CPI       Index Ratio

November        1       2005    196.40000       1.04193
November        2       2005    196.48000       1.04235
November        3       2005    196.56000       1.04278
November        4       2005    196.64000       1.04320
November        5       2005    196.72000       1.04363
November        6       2005    196.80000       1.04405
November        7       2005    196.88000       1.04447
November        8       2005    196.96000       1.04490
November        9       2005    197.04000       1.04532
November        10      2005    197.12000       1.04575
November        11      2005    197.20000       1.04617
November        12      2005    197.28000       1.04660
November        13      2005    197.36000       1.04702
November        14      2005    197.44000       1.04745
November        15      2005    197.52000       1.04787
November        16      2005    197.60000       1.04829
November        17      2005    197.68000       1.04872
November        18      2005    197.76000       1.04914
November        19      2005    197.84000       1.04957
November        20      2005    197.92000       1.04999
November        21      2005    198.00000       1.05042
November        22      2005    198.08000       1.05084
November        23      2005    198.16000       1.05126
November        24      2005    198.24000       1.05169
November        25      2005    198.32000       1.05211
November        26      2005    198.40000       1.05254
November        27      2005    198.48000       1.05296
November        28      2005    198.56000       1.05339
November        29      2005    198.64000       1.05381
November        30      2005    198.72000       1.05424