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PRESS RELEASE March 13, 1968

World Bank Proposes to Offer $150 Million 26-Year Bond Issue

George D. Woods, President of the International Bank for Reconstruction and Development, announced today that the Bank proposes to offer in the United States on March 21, 1968 a new issue of $150,000,000 principal amount of 26-year bonds.

The bonds will be non-redeemable for a period of 12-1/2 years and will be offered through a nationwide group of underwriters headed by Morgan Stanley & Co. and The First Boston Corporation. In addition to the initial delivery of bonds, it is expected that bonds will be offered for sale on a delayed delivery basis to certain institutional purchasers on various dates up to February 4, 1970.