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PRESS RELEASE July 30, 1971

World Bank Proposes to Offer $175 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 August 11, 1971, a new issue of $175,000,000 principal amount of 25-year bonds.

The bonds will be non-redeemable for a period of 12½ years and will be offered through a nationwide group of underwriters headed by The First Boston Corporation and Morgan Stanley & Co. Incorporated. In addition to the initial delivery of bonds, it is expected that the bonds will be offered for sale on a delayed delivery basis to certain institutional purchasers on various dates to August 1, 1973.