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PRESS RELEASE March 16, 1989

World Bank Announces Targeted Public Issue of Deutsche Mark Bonds

The World Bank has issued OM 150 million (about US$ 80.4 million) of 8-year bonds through an international syndicate of cooperative banks that are members of the UNICO group.

The syndicate is lead-managed by Deutsche Genossenschaftsbank (DG-Bank). The bonds carry a 6-5/8 percent coupon and are priced at 100.75 for a yield of 6.40 percent on a semi-annual coupon equivalent basis. The bonds will be repaid at par on April 14, 1997 and are noncallable.

This targeted public issue will be listed on the Frankfurt Stock Exchange.

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