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

Ref CPI and Index Ratios for March 2006

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:                     March 2006
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) November 2005               197.6
CPI-U (NSA) December 2005               196.8
CPI-U (NSA) January 2006                198.3

Month   Calendar Day    Year    Ref CPI       Index Ratio

March           1       2006    196.80000       1.04405
March           2       2006    196.84839       1.04431
March           3       2006    196.89677       1.04456
March           4       2006    196.94516       1.04482
March           5       2006    196.99355       1.04508
March           6       2006    197.04194       1.04533
March           7       2006    197.09032       1.04559
March           8       2006    197.13871       1.04585
March           9       2006    197.18710       1.04610
March           10      2006    197.23548       1.04636
March           11      2006    197.28387       1.04662
March           12      2006    197.33226       1.04687
March           13      2006    197.38065       1.04713
March           14      2006    197.42903       1.04739
March           15      2006    197.47742       1.04764
March           16      2006    197.52581       1.04790
March           17      2006    197.57419       1.04816
March           18      2006    197.62258       1.04841
March           19      2006    197.67097       1.04867
March           20      2006    197.71935       1.04893
March           21      2006    197.76774       1.04918
March           22      2006    197.81613       1.04944
March           23      2006    197.86452       1.04970
March           24      2006    197.91290       1.04995
March           25      2006    197.96129       1.05021
March           26      2006    198.00968       1.05047
March           27      2006    198.05806       1.05072
March           28      2006    198.10645       1.05098
March           29      2006    198.15484       1.05124
March           30      2006    198.20323       1.05149
March           31      2006    198.25161       1.05175