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PRESS RELEASE November 29, 1988

World Bank Announces Prepayment of 2 Japanese Yen Public Bond Issues

The World Bank announced today that it intends to prepay two outstanding yen bond issues, the 8.0 percent Bonds of 1983, due 1995 (Series 18 and 19) at their next interest payment dates. Those dates are February 16, 1989 for the 18th Series and April 6, 1989 for the 19th Series. The aggregate amount to be prepaid is Japanese yen 37,904 million (about $310 million), including a prepayment premium of 3.0 percent of par to investors in each bond issue.

The Bank has previously exercised prepayment rights with respect to borrowings denominated in Japanese yen, Swiss franc, Luxembourg franc, Austrian schilling, Belgian franc and Kuwaiti dinar.