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2% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS) Due July 15, 2014

Ref CPI and Index Ratios for May 2008

    Contact: Office of Financing            202-504-3550
    DESCRIPTION:                            D-2014
    CUSIP NUMBER:                           912828CP3
    DATED DATE:                             July 15, 2004
    ORIGINAL ISSUE DATE:                    July 15, 2004
    ADDITIONAL ISSUE DATE:                  October 15, 2004
    MATURITY DATE:                          July 15, 2014
    Ref CPI on DATED DATE:                  188.49677
    TABLE FOR MONTH OF:                     May 2008
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) January 2008                211.080
    CPI-U (NSA) February 2008               211.693
    CPI-U (NSA) March 2008                  213.528

    Month   Calendar Day   Year    Ref CPI      Index Ratio

    May            1       2008    211.69300       1.12306
    May            2       2008    211.75219       1.12337
    May            3       2008    211.81139       1.12369
    May            4       2008    211.87058       1.12400
    May            5       2008    211.92977       1.12432
    May            6       2008    211.98897       1.12463
    May            7       2008    212.04816       1.12494
    May            8       2008    212.10735       1.12526
    May            9       2008    212.16655       1.12557
    May            10      2008    212.22574       1.12589
    May            11      2008    212.28494       1.12620
    May            12      2008    212.34413       1.12651
    May            13      2008    212.40332       1.12683
    May            14      2008    212.46252       1.12714
    May            15      2008    212.52171       1.12746
    May            16      2008    212.58090       1.12777
    May            17      2008    212.64010       1.12808
    May            18      2008    212.69929       1.12840
    May            19      2008    212.75848       1.12871
    May            20      2008    212.81768       1.12903
    May            21      2008    212.87687       1.12934
    May            22      2008    212.93606       1.12965
    May            23      2008    212.99526       1.12997
    May            24      2008    213.05445       1.13028
    May            25      2008    213.11365       1.13060
    May            26      2008    213.17284       1.13091
    May            27      2008    213.23203       1.13122
    May            28      2008    213.29123       1.13154
    May            29      2008    213.35042       1.13185
    May            30      2008    213.40961       1.13217
    May            31      2008    213.46881       1.13248