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PRESS RELEASE July 17, 1986

World Bank Announces Public Offering of Yen 50 Billion 10-Year Bond Issue

A Yen 50 billion (approximately US$ 311.2 million) public offering of bonds of the International Bank for Reconstruction and Development (The World Bank) was announced today.

The 5.75 percent, 10-year bonds were priced at 100.5 percent and will yield 5.60 percent on a semi-annual basis. Interest on the non-callable bonds is payable annually on August 6.

The issue is lead-managed by Nikko Securities Company Limited in association with the following co-managers: Algemene Bank Nederland N.V., Bank of Tokyo International Limited, Banque Nationale de Paris, Baring Brothers & Co., Limited, Citicorp Investment Bank Limited, Credit Suisse First Boston Limited, Daiwa Europe Limited, Deutsche Bank Capital Markets Limited, Fuji International Finance Limited, IBJ International Limited, LTCB International Limited, Mitsubishi Trust International Limited, Nippon Credit International Ltd., Nomura International Limited, Societe Generale, Swiss Bank Corporation International Limited, Union Bank of Switzerland (Securities) Limited, S.G. Warburg Securities Ltd., Yamaichi International (Europe) Limited, Yasuda Trust Europe Limited.

The issue is being offered in the international capital will be listed on the Luxembourg Stock Exchange.

The World Bank has now concluded ten Euroyen issues for an aggregate amount of Yen 240 billion (about US$ 1.5 billion equivalent).