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SALE OF STATE AND LOCAL GOVERNMENT SECURITIES TO RESUME MAY 27, 2003

FOR IMMEDIATE RELEASE

May 23, 2003

CONTACT: Peter Hollenbach 202-691-3502

Treasury is resuming the sale of State and Local Government Series (SLGS) securities effective Tuesday, May 27, 2003 by accepting subscriptions for new issues of SLGS at the Bureau of the Public Debt. SLGS issuance will resume June 2, 2003.