UNITED STATES SAVINGS BONDS/NOTES EARNINGS REPORT VALUES AND YIELDS FOR $100 SERIES I BONDS May 2002 Thru April 2003 The table shows semiannual values for $100 Series I* bonds. Values for other denominations are proportional to the values shown. For example, the value of a $50 bond is one-half the amount shown and the value of a $500 bond is five times the amount shown. The Current Earnings column shows the annual yield that the bonds will earn during the period indicated. The Earnings From Issue is the bond's yield from its issue date to the date shown or date adjusted as shown in the footnotes. ----------------------------------------------------------------------------------------- | Earnings to Date when held 5 years*** | Redeem Value Series I Bond |-------------------------------------------------------|-------------- Issue Dates | Start | End | Start | End |Current| Since | Start | End | Date** | Date** | Value | Value |Earning| Issue | Value | Value ----------------------------------------------------------------------------------------- 5/2002 - 10/2002 | 5/1/2002 | 11/1/2002 |100.00 |101.28 | 2.56% | 2.56% |100.00 |100.64 11/2001 - 4/2002 | 5/1/2002 | 11/1/2002 |102.20 |103.52 | 2.58% | 3.49% |101.08 |102.84 5/2001 - 10/2001 | 5/1/2002 | 11/1/2002 |105.76 |107.64 | 3.56% | 4.97% |104.36 |106.68 11/2000 - 4/2001 | 5/1/2002 | 11/1/2002 |109.60 |111.76 | 3.94% | 5.64% |108.04 |110.68 5/2000 - 10/2000 | 5/1/2002 | 11/1/2002 |114.08 |116.44 | 4.14% | 6.18% |112.40 |115.28 11/1999 - 4/2000 | 5/1/2002 | 11/1/2002 |117.56 |119.88 | 3.95% | 6.14% |115.88 |118.72 5/1999 - 10/1999 | 5/1/2002 | 11/1/2002 |120.24 |122.56 | 3.86% | 5.90% |118.52 |121.40 11/1998 - 4/1999 | 5/1/2002 | 11/1/2002 |123.32 |125.72 | 3.89% | 5.80% |121.60 |124.52 9/1998 - 10/1998 | 9/1/2002 | 3/1/2003 |126.56 |129.08 | 3.98% | 5.75% |124.76 |127.80 ========================================================================================= VALUES AND YIELDS FOR $100 SERIES EE BONDS May 2002 Thru April 2003 The table shows semiannual values for $100 Series EE* bonds. Values for other denominations are proportional to the values shown. For example, the value of a $50 bond is one-half the amount shown and the value of a $500 bond is five times the amount shown. The Current Earnings column shows the annual yield that the bonds will earn during the period indicated. The Earnings From Issue is the bond's yield from its issue date to the date shown or date adjusted as shown in the footnotes. ----------------------------------------------------------------------------------------- | Earnings to Date when held 5 years*** | Redeem Value Series EE Bond |-------------------------------------------------------|-------------- Issue Dates | Start | End | Start | End |Current| Since | Start | End | Date** | Date** | Value | Value |Earning| Issue | Value | Value ----------------------------------------------------------------------------------------- 5/2002 - 10/2002 | 5/1/2002 | 11/1/2002 | 50.00 | 51.00 | 4.00% | 4.00% | 50.00 | 50.48 11/2001 - 4/2002 | 5/1/2002 | 11/1/2002 | 51.00 | 52.00 | 3.92% | 3.96% | 50.52 | 51.52 5/2001 - 10/2001 | 5/1/2002 | 11/1/2002 | 52.16 | 53.20 | 3.99% | 4.18% | 51.64 | 52.68 11/2000 - 4/2001 | 5/1/2002 | 11/1/2002 | 53.64 | 54.72 | 4.03% | 4.56% | 53.08 | 54.16 5/2000 - 10/2000 | 5/1/2002 | 11/1/2002 | 55.20 | 56.28 | 3.91% | 4.79% | 54.64 | 55.76 11/1999 - 4/2000 | 5/1/2002 | 11/1/2002 | 56.60 | 57.72 | 3.96% | 4.84% | 56.04 | 57.16 5/1999 - 10/1999 | 5/1/2002 | 11/1/2002 | 57.80 | 58.96 | 4.01% | 4.77% | 57.20 | 58.36 11/1998 - 4/1999 | 5/1/2002 | 11/1/2002 | 59.12 | 60.28 | 3.92% | 4.73% | 58.56 | 59.72 5/1998 - 10/1998 | 5/1/2002 | 11/1/2002 | 60.60 | 61.80 | 3.96% | 4.76% | 60.00 | 61.20 ========================================================================================= ------------------------------------------------------------------------------ | Earning Period | | Series EE Bond |-----------------------------------------|Current |Earnings Issue Dates | Start | End | Start | End |Earnings| From | Date** | Date** | Value | Value | | Issue ------------------------------------------------------------------------------ 11/1997 - 4/1998 | 5/1/2002 | 11/1/2002 | 61.68 | 63.56 | 6.10% | 4.86% 5/1997 - 10/1997 | 5/1/2002 | 11/1/2002 | 64.12 | 65.40 | 3.99% | 4.94% 11/1996 - 4/1997 | 5/1/2002 | 11/1/2002 | 63.60 | 64.80 | 3.77% | 4.37% 5/1996 - 10/1996 | 5/1/2002 | 11/1/2002 | 65.12 | 66.32 | 3.69% | 4.39% 11/1995 - 4/1996 | 5/1/2002 | 11/1/2002 | 66.64 | 67.88 | 3.72% | 4.42% 5/1995 - 10/1995 | 5/1/2002 | 11/1/2002 | 68.44 | 69.72 | 3.74% | 4.48% 11/1994 - 4/1995 | 5/1/2002 | 11/1/2002 | 72.56 | 73.88 | 3.64% | 4.94% 5/1994 - 10/1994 | 5/1/2002 | 11/1/2002 | 74.24 | 75.60 | 3.66% | 4.92% 11/1993 - 4/1994 | 5/1/2002 | 11/1/2002 | 75.80 | 77.24 | 3.80% | 4.89% 5/1993 - 10/1993 | 5/1/2002 | 11/1/2002 | 77.60 | 79.08 | 3.81% | 4.88% 3/1993 - 4/1993 | 9/1/2002 | 3/1/2003 | 79.60 | 81.08 | 3.72% | 4.89% 11/1992 - 2/1993 | 5/1/2002 | 11/1/2002 | 87.68 | 90.32 | 6.02% | 6.00% 5/1992 - 10/1992 | 5/1/2002 | 11/1/2002 | 90.32 | 93.04 | 6.02% | 6.00% 11/1991 - 4/1992 | 5/1/2002 | 11/1/2002 | 93.04 | 95.84 | 6.02% | 6.00% 5/1991 - 10/1991 | 5/1/2002 | 11/1/2002 | 95.84 | 98.68 | 5.93% | 6.00% 11/1990 - 4/1991 | 5/1/2002 | 11/1/2002 | 98.68 | 101.64 | 6.00% | 6.00% 5/1990 - 10/1990 | 5/1/2002 | 11/1/2002 | 101.64 | 103.68 | 4.01% | 5.92% 11/1989 - 4/1990 | 5/1/2002 | 11/1/2002 | 103.68 | 105.76 | 4.01% | 5.85% 5/1989 - 10/1989 | 5/1/2002 | 11/1/2002 | 105.76 | 107.88 | 4.01% | 5.78% 11/1988 - 4/1989 | 5/1/2002 | 11/1/2002 | 107.88 | 110.04 | 4.00% | 5.71% 5/1988 - 10/1988 | 5/1/2002 | 11/1/2002 | 110.04 | 112.24 | 4.00% | 5.66% 11/1987 - 4/1988 | 5/1/2002 | 11/1/2002 | 112.24 | 114.48 | 3.99% | 5.60% 5/1987 - 10/1987 | 5/1/2002 | 11/1/2002 | 115.00 | 117.20 | 3.83% | 5.57% 11/1986 - 4/1987 | 5/1/2002 | 11/1/2002 | 118.44 | 120.64 | 3.71% | 5.58% 5/1986 - 10/1986 | 5/1/2002 | 11/1/2002 | 132.48 | 135.12 | 3.99% | 6.12% 11/1985 - 4/1986 | 5/1/2002 | 11/1/2002 | 135.12 | 137.84 | 4.03% | 6.05% 5/1985 - 10/1985 | 5/1/2002 | 11/1/2002 | 137.84 | 140.60 | 4.00% | 6.00% 11/1984 - 4/1985 | 5/1/2002 | 11/1/2002 | 141.20 | 143.92 | 3.85% | 5.96% 5/1984 - 10/1984 | 5/1/2002 | 11/1/2002 | 148.28 | 150.88 | 3.51% | 6.06% 11/1983 - 4/1984 | 5/1/2002 | 11/1/2002 | 155.28 | 158.08 | 3.61% | 6.15% 5/1983 - 10/1983 | 5/1/2002 | 11/1/2002 | 161.92 | 165.12 | 3.95% | 6.22% 3/1983 - 4/1983 | 9/1/2002 | 3/1/2003 | 170.80 | 174.24 | 4.03% | 6.34% 11/1982 - 2/1983 | 5/1/2002 | 11/1/2002 | 183.16 | 188.64 | 5.98% | 6.75% 5/1982 - 10/1982 | 5/1/2002 | 11/1/2002 | 197.72 | 201.68 | 4.01% | 6.92% 11/1981 - 4/1982 | 5/1/2002 | 11/1/2002 | 201.68 | 205.72 | 4.01% | 6.85% 5/1981 - 10/1981 | 5/1/2002 | 11/1/2002 | 205.72 | 209.80 | 3.97% | 6.78% 11/1980 - 4/1981 | 5/1/2002 | 11/1/2002 | 219.16 | 223.56 | 4.02% | 6.92% 5/1980 - 10/1980 | 5/1/2002 | 11/1/2002 | 243.88 | 248.76 | 4.00% | 7.26% 1/1980 - 4/1980 | 7/1/2002 | 1/1/2003 | 246.32 | 251.24 | 3.99% | 7.14% ------------------------------------------------------------------------------ * Monthly increases in value, applicable to some bonds, are not shown in the table. ** Each "Start Date" and "End Date" is for the first date of the range in the "Issue Dates" column. Add one month for each later issue month. For example, a bond issued in 1/1998 would be worth $61.68 on 7/1/2002 $63.56 on 1/1/2003. *** A bond issued on or after May 1, 1997 is assessed a three-month interest penalty if redeemed less than five years after its issue date. "Redeem Value" shows bond values after penalty. "Earnings to Date when held 5 years" shows the amount upon which future earnings will compound. ============================================================================== VALUES AND YIELDS FOR $100 SERIES E BONDS May 2002 Thru April 2003 The table shows semiannual values for $100 Series E bonds. Values for other denominations are proportional to the values shown. For example, the value of a $50 bond is one-half the amount shown and the value of a $500 bond is five times the amount shown. The Current Earnings column shows the annual yield that the bonds will earn during the period indicated. The Earnings From Issue is the bond's yield from its issue date to the date shown or date adjusted as shown in the footnotes. ------------------------------------------------------------------------------ | Earning Period | | Series E Bond |-----------------------------------------|Current |Earnings Issue Dates | Start | End | Start | End |Earnings| From | Date** | Date** | Value | Value | | Issue ------------------------------------------------------------------------------ 5/1980 - 6/1980 | 5/1/2002 | 11/1/2002 | 325.60 | 332.12 | 4.00% | 6.72% 11/1979 - 4/1980 | 5/1/2002 | 11/1/2002 | 328.76 | 335.36 | 4.02% | 6.62% 6/1979 - 10/1979 | 6/1/2002 | 12/1/2002 | 332.20 | 338.84 | 4.00% | 6.52% 5/1979 - 5/1979 | 5/1/2002 | 11/1/2002 | 331.44 | 338.08 | 4.01% | 6.51% 1/1979 - 4/1979 | 7/1/2002 | 1/1/2003 | 334.84 | 341.52 | 3.99% | 6.42% 12/1978 - 12/1978 | 6/1/2002 | 12/1/2002 | 334.76 | 341.48 | 4.01% | 6.42% 11/1978 - 11/1978 | 5/1/2002 | 11/1/2002 | 333.88 | 340.56 | 4.00% | 6.41% 7/1978 - 10/1978 | 7/1/2002 | 1/1/2003 | 337.36 | 344.08 | 3.98% | 6.32% 6/1978 - 6/1978 | 6/1/2002 | 12/1/2002 | 337.28 | 344.04 | 4.01% | 6.32% 5/1978 - 5/1978 | 5/1/2002 | 11/1/2002 | 336.44 | 343.16 | 3.99% | 6.30% 3/1978 - 4/1978 | 9/1/2002 | 3/1/2003 | 362.08 | 369.36 | 4.02% | 6.48% 12/1977 - 2/1978 | 6/1/2002 | 12/1/2002 | 409.20 | 421.48 | 6.00% | 7.03% 11/1977 - 11/1977 | 5/1/2002 | 11/1/2002 | 408.08 | 420.32 | 6.00% | 7.01% 7/1977 - 10/1977 | 7/1/2002 | 1/1/2003 | 458.32 | 467.48 | 4.00% | 7.31% 6/1977 - 6/1977 | 6/1/2002 | 12/1/2002 | 458.40 | 467.56 | 4.00% | 7.31% 5/1977 - 5/1977 | 5/1/2002 | 11/1/2002 | 457.44 | 466.60 | 4.00% | 7.30% 12/1976 - 4/1977 | 6/1/2002 | 12/1/2002 | 462.00 | 471.24 | 4.00% | 7.20% 11/1976 - 11/1976 | 5/1/2002 | 11/1/2002 | 460.72 | 469.92 | 3.99% | 7.18% 7/1976 - 10/1976 | 7/1/2002 | 1/1/2003 | 465.40 | 474.68 | 3.99% | 7.09% 6/1976 - 6/1976 | 6/1/2002 | 12/1/2002 | 465.48 | 474.80 | 4.00% | 7.09% 5/1976 - 5/1976 | 5/1/2002 | 11/1/2002 | 464.44 | 473.72 | 4.00% | 7.08% 1/1976 - 4/1976 | 7/1/2002 | 1/1/2003 | 469.28 | 478.64 | 3.99% | 6.98% 12/1975 - 12/1975 | 6/1/2002 | 12/1/2002 | 469.24 | 478.60 | 3.99% | 6.98% 11/1975 - 11/1975 | 5/1/2002 | 11/1/2002 | 468.20 | 477.56 | 4.00% | 6.98% 6/1975 - 10/1975 | 6/1/2002 | 12/1/2002 | 472.92 | 482.40 | 4.01% | 6.88% 5/1975 - 5/1975 | 5/1/2002 | 11/1/2002 | 471.80 | 481.24 | 4.00% | 6.88% 1/1975 - 4/1975 | 7/1/2002 | 1/1/2003 | 476.64 | 486.20 | 4.01% | 6.79% 12/1974 - 12/1974 | 6/1/2002 | 12/1/2002 | 476.76 | 486.28 | 3.99% | 6.79% 11/1974 - 11/1974 | 5/1/2002 | 11/1/2002 | 475.56 | 485.08 | 4.00% | 6.78% 6/1974 - 10/1974 | 6/1/2002 | 12/1/2002 | 480.48 | 490.08 | 4.00% | 6.70% 5/1974 - 5/1974 | 5/1/2002 | 11/1/2002 | 479.32 | 488.92 | 4.01% | 6.69% 12/1973 - 4/1974 | 6/1/2002 | 12/1/2002 | 484.28 | 493.96 | 4.00% | 6.61% 9/1973 - 11/1973 | 7/1/2002 | 1/1/2003 | 503.24 | 513.32 | 4.01% | 6.67% 8/1973 - 8/1973 | 6/1/2002 | 12/1/2002 | 503.16 | 513.24 | 4.01% | 6.67% 7/1973 - 7/1973 | 5/1/2002 | 11/1/2002 | 502.08 | 512.12 | 4.00% | 6.66% 6/1973 - 6/1973 | 10/1/2002 | 4/1/2003 | 507.20 | 517.36 | 4.01% | 6.58% 2/1973 - 5/1973 | 6/1/2002 | 12/1/2002 | 506.00 | 516.12 | 4.00% | 6.57% 2/1973 - 4/1973 | 12/1/2002 | 2/1/2003 | 516.12 | 519.56 | 4.03% | 6.56% 1/1973 - 1/1973 | 5/1/2002 | 11/1/2002 | 504.72 | 514.84 | 4.01% | 6.56% 1/1973 - 1/1973 | 11/1/2002 | 1/1/2003 | 514.84 | 518.24 | 3.99% | 6.55% 12/1972 - 12/1972 | 10/1/2002 | 12/1/2002 | 509.96 | 513.32 | 3.98% | 6.52% 8/1972 - 11/1972 | 6/1/2002 | 8/1/2002 | 508.84 | 512.20 | 3.99% | 6.51% 7/1972 - 7/1972 | 5/1/2002 | 7/1/2002 | 507.72 | 511.08 | 4.00% | 6.50% 12/1965 - 6/1972 | These bonds stop earning interest 30 years after issue. 9/1965 - 11/1965 | 6/1/2002 | 12/1/2002 | 663.92 | 677.24 | 4.01% | 6.00% 8/1965 - 8/1965 | 5/1/2002 | 11/1/2002 | 660.52 | 673.76 | 4.01% | 5.98% 6/1965 - 7/1965 | 9/1/2002 | 3/1/2003 | 681.96 | 695.64 | 4.01% | 5.99% 4/1965 - 5/1965 | 7/1/2002 | 1/1/2003 | 766.48 | 789.48 | 6.00% | 6.33% 3/1965 - 3/1965 | 6/1/2002 | 12/1/2002 | 766.56 | 789.56 | 6.00% | 6.33% 2/1965 - 2/1965 | 5/1/2002 | 11/1/2002 | 762.84 | 785.72 | 6.00% | 6.32% 12/1964 - 1/1965 | 9/1/2002 | 3/1/2003 | 856.60 | 873.72 | 4.00% | 6.52% 9/1964 - 11/1964 | 6/1/2002 | 12/1/2002 | 851.12 | 868.16 | 4.00% | 6.51% 8/1964 - 8/1964 | 5/1/2002 | 11/1/2002 | 847.12 | 864.08 | 4.00% | 6.49% 6/1964 - 7/1964 | 9/1/2002 | 3/1/2003 | 855.72 | 872.84 | 4.00% | 6.43% 4/1964 - 5/1964 | 7/1/2002 | 1/1/2003 | 850.08 | 867.08 | 4.00% | 6.42% 3/1964 - 3/1964 | 6/1/2002 | 12/1/2002 | 850.16 | 867.16 | 4.00% | 6.42% 2/1964 - 2/1964 | 5/1/2002 | 11/1/2002 | 846.12 | 863.04 | 4.00% | 6.40% 12/1963 - 1/1964 | 9/1/2002 | 3/1/2003 | 854.84 | 871.92 | 4.00% | 6.35% 9/1963 - 11/1963 | 6/1/2002 | 12/1/2002 | 849.56 | 866.56 | 4.00% | 6.33% 8/1963 - 8/1963 | 5/1/2002 | 11/1/2002 | 845.52 | 862.44 | 4.00% | 6.32% 6/1963 - 7/1963 | 9/1/2002 | 3/1/2003 | 854.08 | 871.16 | 4.00% | 6.27% 4/1963 - 5/1963 | 7/1/2002 | 1/1/2003 | 847.60 | 864.56 | 4.00% | 6.25% 4/1963 - 4/1963 | 1/1/2003 | 4/1/2003 | 864.56 | 873.16 | 4.00% | 6.23% 3/1963 - 3/1963 | 6/1/2002 | 12/1/2002 | 847.72 | 864.68 | 4.00% | 6.25% 3/1963 - 3/1963 | 12/1/2002 | 3/1/2003 | 864.68 | 873.28 | 4.00% | 6.23% 2/1963 - 2/1963 | 5/1/2002 | 11/1/2002 | 843.80 | 860.68 | 4.00% | 6.23% 2/1963 - 2/1963 | 11/1/2002 | 2/1/2003 | 860.68 | 869.24 | 4.00% | 6.22% 12/1962 - 1/1963 | 9/1/2002 | 12/1/2002 | 852.40 | 860.88 | 4.00% | 6.20% 10/1962 - 11/1962 | 7/1/2002 | 10/1/2002 | 848.88 | 857.32 | 4.00% | 6.18% 9/1962 - 9/1962 | 6/1/2002 | 9/1/2002 | 848.84 | 857.28 | 4.00% | 6.18% 8/1962 - 8/1962 | 5/1/2002 | 8/1/2002 | 842.88 | 851.24 | 3.99% | 6.17% 5/1941 - 7/1962 | These bonds stop earning interest 40 years after issue. ------------------------------------------------------------------------------ * Earning period is less than six months to achieve final maturity. ** Each "Start Date" and "End Date" is for the first date of the range in the "Issue Dates" column. Add one month for each later issue month. For example, a bond issued in 1/1980 would be worth $328.76 on 7/1/2002 $335.36 on 1/1/2003. ============================================================================== MARKET-BASED SAVINGS BOND RATES Bonds issue-dated May 1, 1997 and later -- ------------------------------------------ A bond you bought in May 1997 or later earns interest at the variable savings bond rate. The rate changes each time your bond enters a new rate period. Your bond’s first rate period begins on its issue date. A new rate period begins every six months after that. For the full six months of each rate period, your bond earns interest at the most recently announced savings bond rate. A new savings bond rate is announced each May 1 and November 1. SAVINGS BOND RATE FOR RATE PERIODS THAT BEGIN MAY 1, 2002 THROUGH OCT 1, 2002 3.96% Bonds issue-dated May 1, 1995 through April 1, 1997 -- ----------------------------------------------------- A bond you bought between May 1995 and April 1997 earns interest at variable short-term/long-term rates. The rate changes each time your bond enters a new rate period. Your bond’s first rate period begins on its issue date. A new rate period begins every six months after that. For the full six months of each rate period, your bond earns interest at the most recently announced rate -- short-term rates during the first five years, long-term rates after that. New short-term and long-term rates are announced each May 1 and November 1. SHORT-TERM RATE FOR RATE PERIODS THAT BEGIN MAY 1, 2002 THROUGH OCT 1, 2002 DOES NOT APPLY LONG-TERM RATE FOR RATE PERIODS THAT BEGIN MAY 1, 2002 THROUGH OCT 1, 2002 3.74% Bonds issue-dated before May 1, 1995 -- -------------------------------------- A bond you bought before May 1995 may earn interest at a variable market-based rate. The rate is updated each time your bond enters a new rate period. Your bond’s first market-based rate period begins on its issue date. (If you bought your bond before November 1982, its first market-based rate period began on its first semiannual interest-earning date on or after November 1982.) A new rate period begins every six months after the first one. Market-based rates are updated updated each May 1 and November 1. MARKET-BASED RATES FOR RATE PERIODS THAT BEGIN MAY 1, 2002 THROUGH OCT 1, 2002 ------------------------------------------------ | BOND | MARKET-BASED | | DATES | RATE | ------------------------------------------------ | Through Apr 1983 | 4.01% | | May 1983 - Oct 1983 | 3.95% | | Nov 1983 - Apr 1984 | 3.58% | | May 1984 - Oct 1984 | 3.56% | | Nov 1984 - Apr 1985 | 3.87% | | May 1985 - Oct 1985 | 3.78% | | Nov 1985 - Apr 1986 | 4.07% | | May 1986 - Oct 1986 | 3.71% | | Nov 1986 - Apr 1987 | 3.73% | | May 1987 - Oct 1987 | 3.78% | | Nov 1987 - Apr 1988 | 3.83% | | May 1988 - Oct 1988 | 3.83% | | Nov 1988 - Apr 1989 | 3.84% | | May 1989 - Oct 1989 | 3.83% | | Nov 1989 - Apr 1990 | 3.80% | | May 1990 - Oct 1990 | 3.79% | | Nov 1990 - Apr 1991 | 3.54% | | May 1991 - Oct 1991 | 3.74% | | Nov 1991 - Apr 1992 | 3.73% | | May 1992 - Oct 1992 | 3.72% | | Nov 1992 - Apr 1993 | 3.75% | | May 1993 - Oct 1993 | 3.80% | | Nov 1993 - Apr 1994 | 3.87% | | May 1994 - Oct 1994 | 3.64% | | Nov 1994 - Apr 1995 | 3.74% | ============================================================================== I BOND RATES Composite earnings rate -- ------------------------- Your Series I bond earns interest at a variable composite earnings rate. The rate changes each time your bond enters a new rate period. Your bond’s first rate period begins on its issue date. A new rate period begins every six months after that. For the full six months of each rate period, your bond earns interest at its most recently announced composite rate. New composite rates are announced each May 1 and November 1. COMPOSITE RATES FOR RATE PERIODS THAT BEGIN MAY 1, 2002 THROUGH OCT 1, 2002 SEMI-ANNUAL INFLATION RATE -- 0.28% ------------------------------------------------------------ | ISSUE | FIXED COMPOSITE | | DATES | RATE RATE | ------------------------------------------------------------ | Sep 1998 - Oct 1998 | 3.40% 3.97% | | Nov 1998 - Apr 1999 | 3.30% 3.87% | | May 1999 - Oct 1999 | 3.30% 3.87% | | Nov 1999 - Apr 2000 | 3.40% 3.97% | | May 2000 - Oct 2000 | 3.60% 4.17% | | Nov 2000 - Apr 2001 | 3.40% 3.97% | | May 2001 - Oct 2001 | 3.00% 3.57% | | Nov 2001 - Apr 2002 | 2.00% 2.57% | | May 2002 - Oct 2002 | 2.00% 2.57% | ============================================================================== ============================================================================== How we set composite rates Here's how we set the composite rate for I bonds issued May 2002 - Oct 2002: Fixed rate = 2.00% Inflation rate = 0.28% Composite rate = [Fixed rate +(2 x Inflation rate) + (Fixed rate x Inflation rate)] X 100% Composite rate = [0.0200 +(2 x 0.0028) + (0.0200 X 0.0028)] X 100% Composite rate = [0.0200 + 0.0056 + 0.0000560] X 100% Composite rate = 0.0256560 X 100% Composite rate = 2.56560% Composite rate = 2.57% ==============================================================================