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2-3/8% 20-1/2-YEAR TREASURY INFLATION-PROTECTED SECURITIES (TIPS) Due January 15, 2025

Ref CPI and Index Ratios for January 2007

    Contact: Office of Financing            202-504-3550
    DESCRIPTION:                            TIPS of January 2025
    CUSIP NUMBER:                           912810FR4
    DATED DATE:                             July 15, 2004
    ORIGINAL ISSUE DATE:                    July 30, 2004
    ADDITIONAL ISSUE DATE:                  January 31, 2005
                                            July 29, 2005
    MATURITY DATE:                          January 15, 2025
    Ref CPI on DATED DATE:                  188.49677
    TABLE FOR MONTH OF:                     January 2007
    NUMBER OF DAYS IN MONTH:                31

    CPI-U (NSA) September 2006              202.9
    CPI-U (NSA) October 2006                201.8
    CPI-U (NSA) November 2006               201.5

    Month   Calendar Day    Year    Ref CPI       Index Ratio

    January         1       2007    201.80000       1.07058
    January         2       2007    201.79032       1.07052
    January         3       2007    201.78065       1.07047
    January         4       2007    201.77097       1.07042
    January         5       2007    201.76129       1.07037
    January         6       2007    201.75161       1.07032
    January         7       2007    201.74194       1.07027
    January         8       2007    201.73226       1.07022
    January         9       2007    201.72258       1.07016
    January         10      2007    201.71290       1.07011
    January         11      2007    201.70323       1.07006
    January         12      2007    201.69355       1.07001
    January         13      2007    201.68387       1.06996
    January         14      2007    201.67419       1.06991
    January         15      2007    201.66452       1.06986
    January         16      2007    201.65484       1.06981
    January         17      2007    201.64516       1.06975
    January         18      2007    201.63548       1.06970
    January         19      2007    201.62581       1.06965
    January         20      2007    201.61613       1.06960
    January         21      2007    201.60645       1.06955
    January         22      2007    201.59677       1.06950
    January         23      2007    201.58710       1.06945
    January         24      2007    201.57742       1.06939
    January         25      2007    201.56774       1.06934
    January         26      2007    201.55806       1.06929
    January         27      2007    201.54839       1.06924
    January         28      2007    201.53871       1.06919
    January         29      2007    201.52903       1.06914
    January         30      2007    201.51935       1.06909
    January         31      2007    201.50968       1.06904