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PRESS RELEASE July 5, 1989

World Bank Announces Public Issue of Deutsche Marks 600 Million Bonds

The World Bank has issued DM 600 million (about US$314 million) of 10-year bonds through a 14-member international syndicate of German and foreign financial institutions led by Deutsche Bank AG. The bonds have a 6-3/4 percent annual coupon and are priced at 100.75 for a yield of 6.54 percent on a semiannual coupon equivalent basis. The bonds, which are noncallable, will be repaid at par on July 28, 1999.

The 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.