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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 2008

    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 2008
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) November 2007               210.177
    CPI-U (NSA) December 2007               210.036
    CPI-U (NSA) January 2008                211.080

    Month   Calendar Day    Year    Ref CPI       Index Ratio

    March           1       2008    210.03600       1.11427
    March           2       2008    210.06968       1.11445
    March           3       2008    210.10335       1.11463
    March           4       2008    210.13703       1.11480
    March           5       2008    210.17071       1.11498
    March           6       2008    210.20439       1.11516
    March           7       2008    210.23806       1.11534
    March           8       2008    210.27174       1.11552
    March           9       2008    210.30542       1.11570
    March           10      2008    210.33910       1.11588
    March           11      2008    210.37277       1.11606
    March           12      2008    210.40645       1.11623
    March           13      2008    210.44013       1.11641
    March           14      2008    210.47381       1.11659
    March           15      2008    210.50748       1.11677
    March           16      2008    210.54116       1.11695
    March           17      2008    210.57484       1.11713
    March           18      2008    210.60852       1.11731
    March           19      2008    210.64219       1.11748
    March           20      2008    210.67587       1.11766
    March           21      2008    210.70955       1.11784
    March           22      2008    210.74323       1.11802
    March           23      2008    210.77690       1.11820
    March           24      2008    210.81058       1.11838
    March           25      2008    210.84426       1.11856
    March           26      2008    210.87794       1.11874
    March           27      2008    210.91161       1.11891
    March           28      2008    210.94529       1.11909
    March           29      2008    210.97897       1.11927
    March           30      2008    211.01265       1.11945
    March           31      2008    211.04632       1.11963