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3-3/8% 30-1/2-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for July 2005

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            TIPS of April 2032
CUSIP NUMBER:                           912810FQ6
DATED DATE:                             October 15, 2001
ORIGINAL ISSUE DATE:                    October 15, 2001
ADDITIONAL ISSUE DATE:                  N/A
MATURITY DATE:                          April 15, 2032
Ref CPI on DATED DATE:                  177.50000
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       1.09634
July            2       2005    194.59355       1.09630
July            3       2005    194.58710       1.09627
July            4       2005    194.58065       1.09623
July            5       2005    194.57419       1.09619
July            6       2005    194.56774       1.09616
July            7       2005    194.56129       1.09612
July            8       2005    194.55484       1.09608
July            9       2005    194.54839       1.09605
July            10      2005    194.54194       1.09601
July            11      2005    194.53548       1.09597
July            12      2005    194.52903       1.09594
July            13      2005    194.52258       1.09590
July            14      2005    194.51613       1.09587
July            15      2005    194.50968       1.09583
July            16      2005    194.50323       1.09579
July            17      2005    194.49677       1.09576
July            18      2005    194.49032       1.09572
July            19      2005    194.48387       1.09568
July            20      2005    194.47742       1.09565
July            21      2005    194.47097       1.09561
July            22      2005    194.46452       1.09557
July            23      2005    194.45806       1.09554
July            24      2005    194.45161       1.09550
July            25      2005    194.44516       1.09547
July            26      2005    194.43871       1.09543
July            27      2005    194.43226       1.09539
July            28      2005    194.42581       1.09536
July            29      2005    194.41935       1.09532
July            30      2005    194.41290       1.09528
July            31      2005    194.40645       1.09525