Applicable Federal Rates for 2003

Short-Term Rates for 2003

Month	Annual	Semiann.	Quarterly	Monthly
Jan-2003	1.81%	1.80%	1.80%	1.79%
Feb-2003	1.65%	1.64%	1.64%	1.63%
Mar-2003	1.58%	1.57%	1.57%	1.56%
Apr-2003	1.46%	1.45%	1.45%	1.45%
May-2003	1.53%	1.52%	1.52%	1.52%
Jun-2003	1.49%	1.48%	1.48%	1.48%
Jul-2003	1.23%	1.23%	1.23%	1.23%
Aug-2003	1.21%	1.21%	1.21%	1.21%
Sep-2003	1.52%	1.51%	1.51%	1.51%
Oct-2003	1.68%	1.67%	1.67%	1.66%
Nov-2003	1.50%	1.49%	1.49%	1.49%
Dec-2003	1.68%	1.67%	1.67%	1.66%

Mid-Term Rates for 2003

Month	Annual	Semiann.	Quarterly	Monthly
Jan-2003	3.43%	3.40%	3.39%	3.38%
Feb-2003	3.27%	3.24%	3.23%	3.22%
Mar-2003	3.24%	3.21%	3.20%	3.19%
Apr-2003	2.96%	2.94%	2.93%	2.92%
May-2003	3.17%	3.15%	3.14%	3.13%
Jun-2003	3.06%	3.04%	3.03%	3.02%
Jul-2003	2.55%	2.53%	2.52%	2.52%
Aug-2003	2.70%	2.68%	2.67%	2.67%
Sep-2003	3.43%	3.40%	3.39%	3.38%
Oct-2003	3.65%	3.62%	3.60%	3.59%
Nov-2003	3.32%	3.29%	3.28%	3.27%
Dec-2003	3.55%	3.52%	3.50%	3.49%

Long-Term Rates for 2003

Month	Annual	Semiann.	Quarterly	Monthly
Jan-2003	4.90%	4.84%	4.81%	4.79%
Feb-2003	4.85%	4.79%	4.76%	4.74%
Mar-2003	4.80%	4.74%	4.71%	4.69%
Apr-2003	4.58%	4.53%	4.50%	4.49%
May-2003	4.79%	4.73%	4.70%	4.68%
Jun-2003	4.65%	4.60%	4.57%	4.56%
Jul-2003	4.17%	4.13%	4.11%	4.09%
Aug-2003	4.36%	4.31%	4.29%	4.27%
Sep-2003	5.08%	5.02%	4.99%	4.97%
Oct-2003	5.23%	5.16%	5.13%	5.11%
Nov-2003	4.99%	4.93%	4.90%	4.88%
Dec-2003	5.12%	5.06%	5.03%	5.01%