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PRESS RELEASE February 10, 1988

World Bank Offers Public Issue of Australian Dollar 75 Million Notes

The World Bank today offered public issue of Australian dollar notes in the Euromarkets in an amount of A$75 million (about US$53 million). It consists of five-year notes priced at 102 with a 12-3/4 percent coupon, payable annually, with a yield of 11.84 percent on a semiannual coupon equiva1ent basis before allowances, if any. The notes will be repaid on March 15, 1993 and are non-callable.

The issue was lead managed by Hambros Bank Limited and co-lead managed by ANZ Merchant Bank Limited, Citicorp Investment Bank Limited, Deutsche Bank Capital Markets and Societe Generate, in cooperation with an underwriting syndicate of international financial institutions. The notes will be listed on the Luxembourg Stock Exchange.

This is the World Bank's sixth issue of Australian dollar notes, and the third Australian dollar issue in this fiscal year. The proceeds of this issue will be swapped into Swiss francs to be used in the general operations of the World Bank.