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2-3/8% 20-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS) Due January 15, 2027

Ref CPI and Index Ratios for July 2007

    Contact: Office of Financing            202-504-3550
    DESCRIPTION:                            TIPS of January 2027
    CUSIP NUMBER:                           912810PS1
    DATED DATE:                             January 15, 2007
    ORIGINAL ISSUE DATE:                    January 31, 2007
    ADDITIONAL ISSUE DATE:                  N/A
    MATURITY DATE:                          January 15, 2027
    Ref CPI on DATED DATE:                  201.66452
    TABLE FOR MONTH OF:                     July 2007
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) March 2007                  205.352
    CPI-U (NSA) April 2007                  206.686
    CPI-U (NSA) May 2007                    207.949

    Month   Calendar Day    Year    Ref CPI       Index Ratio

    July            1       2007    206.68600       1.02490
    July            2       2007    206.72674       1.02510
    July            3       2007    206.76748       1.02530
    July            4       2007    206.80823       1.02551
    July            5       2007    206.84897       1.02571
    July            6       2007    206.88971       1.02591
    July            7       2007    206.93045       1.02611
    July            8       2007    206.97119       1.02631
    July            9       2007    207.01194       1.02652
    July            10      2007    207.05268       1.02672
    July            11      2007    207.09342       1.02692
    July            12      2007    207.13416       1.02712
    July            13      2007    207.17490       1.02732
    July            14      2007    207.21565       1.02753
    July            15      2007    207.25639       1.02773
    July            16      2007    207.29713       1.02793
    July            17      2007    207.33787       1.02813
    July            18      2007    207.37861       1.02833
    July            19      2007    207.41935       1.02854
    July            20      2007    207.46010       1.02874
    July            21      2007    207.50084       1.02894
    July            22      2007    207.54158       1.02914
    July            23      2007    207.58232       1.02934
    July            24      2007    207.62306       1.02955
    July            25      2007    207.66381       1.02975
    July            26      2007    207.70455       1.02995
    July            27      2007    207.74529       1.03015
    July            28      2007    207.78603       1.03035
    July            29      2007    207.82677       1.03056
    July            30      2007    207.86752       1.03076
    July            31      2007    207.90826       1.03096