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PRESS RELEASE February 27, 1979

World Bank Offers $300 Million 2-Year Bond Issue

The World Bank announced that its offering of a $300,000,000 Issue of Two-Year maturity U.S. dollar Bonds in markets outside the United States was substantially oversubscribed. The Bonds to bear interest at the rate of 9.85% per annum, payable semi-annually, were offered at par to central banks, other governmental institutions and international organizations. A total of 71 institutions subscribed to this Issue of Bonds. As of March 15, 1979, the Bank will have outstanding $1,350,000,000 in Two-Year Bonds. The settlement date for this Issue of Bonds will be March 15, 1979. A similar Issue in the aggregate principal amount of $300,000,000 which was placed outside the United States with similar purchasers in March 1977 will mature on March 15, 1979.