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PRESS RELEASE September 14, 1987

World Bank Announces Record Issue in US Market

A $750 million 9-7/8 percent offering in the U.S. market of ten-year notes due October 1, 1997 was announced today by the International Bank for Reconstruction and Development (The World Bank). The noncallable notes were offered at 99-3/4 for a yield to subscribing investors of 9.91 percent. This is Bank's largest single maturity issue and establishes a new benchmark for intermediate maturity World Bank issues in the U.S. market.

The notes were offered by Merrill Lynch Capital Markets, Salomon Brothers Inc, Morgan Stanley & Co. Incorporated, The First Boston Corporation and Goldman Sachs & Co., together with an international

underwriting group of 22 financial institutions.

The net proceeds from the sale of the notes will be used in the general operations of the World Bank.

The Bank is headquartered in Washington, D.C. and has been in operation since July 1946. Its membership comprises 151 governments. The principal purpose of the Bank is to promote the economic development of its member countries in the interest of fostering the long-term growth of international trade and improved living standards. Its principal activity is providing loans and related technical assistance for specific projects and for programs of economic reform in developing member countries. From its establishment to June 30, 1987, the Bank had approved loans in the aggregate amount of $140.3 billion to finance projects or programs in 104 countries.