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

Ref CPI and Index Ratios for May 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:                     May 2006
NUMBER OF DAYS IN MONTH:                31

CPI-U (NSA) January 2006                198.3
CPI-U (NSA) February 2006               198.7
CPI-U (NSA) March 2006                  199.8

Month   Calendar Day    Year    Ref CPI       Index Ratio

May             1       2006    198.70000       1.05413
May             2       2006    198.73548       1.05432
May             3       2006    198.77097       1.05451
May             4       2006    198.80645       1.05469
May             5       2006    198.84194       1.05488
May             6       2006    198.87742       1.05507
May             7       2006    198.91290       1.05526
May             8       2006    198.94839       1.05545
May             9       2006    198.98387       1.05564
May             10      2006    199.01935       1.05582
May             11      2006    199.05484       1.05601
May             12      2006    199.09032       1.05620
May             13      2006    199.12581       1.05639
May             14      2006    199.16129       1.05658
May             15      2006    199.19677       1.05676
May             16      2006    199.23226       1.05695
May             17      2006    199.26774       1.05714
May             18      2006    199.30323       1.05733
May             19      2006    199.33871       1.05752
May             20      2006    199.37419       1.05771
May             21      2006    199.40968       1.05789
May             22      2006    199.44516       1.05808
May             23      2006    199.48065       1.05827
May             24      2006    199.51613       1.05846
May             25      2006    199.55161       1.05865
May             26      2006    199.58710       1.05884
May             27      2006    199.62258       1.05902
May             28      2006    199.65806       1.05921
May             29      2006    199.69355       1.05940
May             30      2006    199.72903       1.05959
May             31      2006    199.76452       1.05978