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PRESS RELEASE December 10, 1970

World Bank Announces Full Subscription of Dutch Guilder Notes Placement

The International Bank for Reconstruction and Development today announced that a placement of 60,000,000 Netherlands guilders (US$16.6 million equivalent) 7-3/4% Five-Year Notes, offered on December 7 at a price of 99-1/4%, has been fully subscribed. Consequently, the subscription was closed today. These notes were placed with non-residents of the Netherlands and the United States of America by a syndicate of Dutch banks headed by Algemene Bank Nederland N.V. Other members of the syndicate are Amsterdam-Rotterdam Bank N.V., Bank Mees en Hope N.V. and Pierson, Heldring en Pierson.

This will be the second Dutch guilder obligation of the World Bank offered this month. On December 3, 1970, a syndicate of Dutch banks offered for public subscription in the Netherlands 60,000,000 guilders of 8-1/4% Fifteen Year Bonds priced at 99%.