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PRESS RELEASE February 19, 1987

World Bank Announces Public Offering of Yen 50 Billion Bond Issue

A Yen 50 billion (approximately US$ 324.9 million) public offering of bonds of the International Bank for Reconstruction and Development (The World Bank) was announced today.

The 4-7 / 8 percent, 7-year bonds were priced at 101.5 percent and will yield 4.57 percent on a semi-annual basis. Interest on the on-callable bonds is payable annually on March 10.

The issue is lead-managed by Daiwa Europe 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, Deutsche Bank Capital Markets Limited , DKB International Limited, IBJ International Limited, LTCB International Limited, Mitsui Finance International Limited, Mitsui Trust International Limited, Morgan Guaranty Ltd., Morgan Stanley International, The Nikko Securities Co., (Europe) Ltd., Nippon Credit International Limited, Nomura International Limited, Salomon Brothers International Limited, Sumitomo Trust International Limited, Swiss Bank Corporation International Limited, Toyo Trust International Limited, Union Bank of Switzerland (Securities) Limited, S.G. Warburg Securities, Yamaichi International (Europe) Limited.

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

The World Bank has now concluded eleven Euro yen issues for an aggregate amount of Yen 290 billion (about US$ 1.8 billion equivalent).