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PRESS RELEASE July 29, 1987

World Bank Announces First Public Issue in Danish Kroner

The World Bank announced today the signing of a DKr 300 million ($43 million) public offering in the Euro-Danish Kroner market. The 7-year bonds, which will mature on August 10, 1994, have a 10-1/4 percent coupon, payable annually, and an offering price of 100-1 /4 for a yield of 9.95 percent on a semi-annual coupon equivalent basis. The issue has been fully subscribed.

This is the World Bank's first public offering and issuance of bonds in the Danish capital market. Three previous borrowings in that market were semi-private placements.

The issue is lead managed by Den Danske Bank with Banque Internationale a Luxembourg, Credit Suisse First Boston, Generale Bank and Westdeutsche Landesbank Girozentrale as co-lead managers and an international group of 23 other financial institutions as co-managers.

The proceeds of the issue will be used in the general operations of the World Bank.