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PRESS RELEASE July 14, 1970

World Bank Proposes to Offer $200 Million 25-Year Bond Issue

Robert S. McNamara, President of the International Bank for Reconstruction and Development, announced today that the Bank proposes to offer in the United States on July 23, 1970, a new issue of $200,000,000 principal amount of 25-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. Incorporated 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 to August 2, 1972.