Treasury Suspends Sales of State and Local Government Series Securities

FOR IMMEDIATE RELEASE

February 15, 2006

Contact: Mckayla Braden (202) 504-3534

The Treasury Department announced the suspension of sales of State and Local Government series (SLGS) nonmarketable Treasury securities until further notice, effective as of 3:00 p.m., Eastern Standard Time, Thursday, February 16, 2006. This suspension is necessary because the statutory debt ceiling has not been raised. The suspension will facilitate Treasury's managing debt subject to limit.

The suspension applies to demand deposit and time deposit securities. Subscriptions for SLGS received by the Bureau of the Public Debt prior to 3:00 p.m., EST, February 16, 2006 will be issued on the date requested. New subscriptions for SLGS will not be accepted until the suspension is lifted. The Internal Revenue Service has issued guidance to affected entities in Revenue Procedure 95-47, 1995-47 I.R.B. 12, which is available at www.irs.gov/bonds by selecting the Revenue Procedures link under “Published Guidance.”

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PA-726

www.treasurydirect.gov