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More Good News For Treasury Direct Customers

FOR IMMEDIATE RELEASE

February 2, 1998

The Bureau of the Public Debt announced today that its Treasury Direct toll free telephone service has been expanded. Customers can now order a statement of account, check their account balance or order a duplicate interest income statement (IRS 1099-INT) by calling 1-800-943-6864. The new “Direct to You” telephone service further simplifies the popular Treasury Direct system, saving customers both time and money.

Treasury Direct customers can access these new services between 8:00 a.m. and 8:00 p.m. Eastern Time, Monday through Friday; the service hours parallel when the system is available to provide this information. Last year more than 51,100 requests for account balances, statements of accounts, and duplicate 1099 forms were received from customers.

“These new services bring us closer to our goal of making it possible for Treasury Direct customers to handle their investments electronically,” said Van Zeck, Acting Commissioner of the Public Debt.

This same toll free number can still be used by Treasury Direct customers to reinvest maturing securities 24 hours a day, 365 days a year. The Reinvest Direct by telephone was one of three new “Direct to You” services introduced in September 1997. The other two were: Pay Direct which allows customers to pay for their securities by authorizing Treasury to debit their bank account on the day the security is issued; and Sell Direct which allows investors to sell their Treasury securities through the Chicago Federal Reserve Bank which performs the service as Treasury's agent.

Treasury Direct, a system that became operational in 1986, allows Treasury to continue its longstanding policy of selling securities directly to the public. More than 825,000 customers hold $84 billion worth of securities in Treasury Direct. All principal and interest payments are made electronically. Treasury Direct investors are served by servicing sites located at Federal Reserve Banks and branches throughout the country as well as at Public Debt's Capital Area Servicing Center in Washington, D.C.

Visit Public Debt's web site at: www.publicdebt.treas.gov, to learn more about Treasury Direct, and the “Direct to You” features, as well as the securities offered, to download forms, and to check on Treasury auction results.