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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 2008

    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:                  July 31, 2007
    MATURITY DATE:                          January 15, 2027
    Ref CPI on DATED DATE:                  201.66452
    TABLE FOR MONTH OF:                     July 2008
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) March 2008                  213.528
    CPI-U (NSA) April 2008                  214.823
    CPI-U (NSA) May 2008                    216.632

    Month   Calendar Day   Year    Ref CPI      Index Ratio

    July           1       2008    214.82300       1.06525
    July           2       2008    214.88135       1.06554
    July           3       2008    214.93971       1.06583
    July           4       2008    214.99806       1.06612
    July           5       2008    215.05642       1.06641
    July           6       2008    215.11477       1.06670
    July           7       2008    215.17313       1.06699
    July           8       2008    215.23148       1.06727
    July           9       2008    215.28984       1.06756
    July           10      2008    215.34819       1.06785
    July           11      2008    215.40655       1.06814
    July           12      2008    215.46490       1.06843
    July           13      2008    215.52326       1.06872
    July           14      2008    215.58161       1.06901
    July           15      2008    215.63997       1.06930
    July           16      2008    215.69832       1.06959
    July           17      2008    215.75668       1.06988
    July           18      2008    215.81503       1.07017
    July           19      2008    215.87339       1.07046
    July           20      2008    215.93174       1.07075
    July           21      2008    215.99010       1.07104
    July           22      2008    216.04845       1.07133
    July           23      2008    216.10681       1.07162
    July           24      2008    216.16516       1.07190
    July           25      2008    216.22352       1.07219
    July           26      2008    216.28187       1.07248
    July           27      2008    216.34023       1.07277
    July           28      2008    216.39858       1.07306
    July           29      2008    216.45694       1.07335
    July           30      2008    216.51529       1.07364
    July           31      2008    216.57365       1.07393