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3-3/8% 10-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS)

Ref CPI and Index Ratios for September 2004

Contact: Office of Financing       202-504-3550
DESCRIPTION:                            Series A-2007
CUSIP NUMBER:                           9128272M3
DATED DATE:                             January 15, 1997
ORIGINAL ISSUE DATE:                    February 6, 1997
ADDITIONAL ISSUE DATE:                  April 15, 1997
MATURITY DATE:                          January 15, 2007
Ref CPI on DATED DATE:                  158.43548
TABLE FOR MONTH OF:                     September 2004
NUMBER OF DAYS IN MONTH:                30

CPI-U (NSA) May 2004                    189.1
CPI-U (NSA) June 2004                   189.7
CPI-U (NSA) July 2004                   189.4

Month   Calendar Day    Year    Ref CPI       Index Ratio

September       1       2004    189.70000       1.19733
September       2       2004    189.69000       1.19727
September       3       2004    189.68000       1.19721
September       4       2004    189.67000       1.19714
September       5       2004    189.66000       1.19708
September       6       2004    189.65000       1.19702
September       7       2004    189.64000       1.19695
September       8       2004    189.63000       1.19689
September       9       2004    189.62000       1.19683
September       10      2004    189.61000       1.19676
September       11      2004    189.60000       1.19670
September       12      2004    189.59000       1.19664
September       13      2004    189.58000       1.19658
September       14      2004    189.57000       1.19651
September       15      2004    189.56000       1.19645
September       16      2004    189.55000       1.19639
September       17      2004    189.54000       1.19632
September       18      2004    189.53000       1.19626
September       19      2004    189.52000       1.19620
September       20      2004    189.51000       1.19613
September       21      2004    189.50000       1.19607
September       22      2004    189.49000       1.19601
September       23      2004    189.48000       1.19594
September       24      2004    189.47000       1.19588
September       25      2004    189.46000       1.19582
September       26      2004    189.45000       1.19575
September       27      2004    189.44000       1.19569
September       28      2004    189.43000       1.19563
September       29      2004    189.42000       1.19557
September       30      2004    189.41000       1.19550