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2-3/8% 20-1/2-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS) Due January 15, 2025

Ref CPI and Index Ratios for March 2007

    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 2007
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) November 2006               201.5
    CPI-U (NSA) December 2006               201.8
    CPI-U (NSA) January 2007                202.416

    Month    Calendar Day   Year    Ref CPI       Index Ratio

    March           1       2007    201.80000       1.07058
    March           2       2007    201.81987       1.07068
    March           3       2007    201.83974       1.07079
    March           4       2007    201.85961       1.07089
    March           5       2007    201.87948       1.07100
    March           6       2007    201.89935       1.07110
    March           7       2007    201.91923       1.07121
    March           8       2007    201.93910       1.07131
    March           9       2007    201.95897       1.07142
    March           10      2007    201.97884       1.07152
    March           11      2007    201.99871       1.07163
    March           12      2007    202.01858       1.07173
    March           13      2007    202.03845       1.07184
    March           14      2007    202.05832       1.07195
    March           15      2007    202.07819       1.07205
    March           16      2007    202.09806       1.07216
    March           17      2007    202.11794       1.07226
    March           18      2007    202.13781       1.07237
    March           19      2007    202.15768       1.07247
    March           20      2007    202.17755       1.07258
    March           21      2007    202.19742       1.07268
    March           22      2007    202.21729       1.07279
    March           23      2007    202.23716       1.07289
    March           24      2007    202.25703       1.07300
    March           25      2007    202.27690       1.07311
    March           26      2007    202.29677       1.07321
    March           27      2007    202.31665       1.07332
    March           28      2007    202.33652       1.07342
    March           29      2007    202.35639       1.07353
    March           30      2007    202.37626       1.07363
    March           31      2007    202.39613       1.07374