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PRESS RELEASE February 7, 1990

World Bank Launched Public Offering of Eurolira 200 Billion Bonds

The World Bank today launched its seventh public offering of Italian lira bonds in the Euromarket for an aggregate amount of Lire 200 billion (about US$161 million). The 5-year Eurolira bonds which have a bullet maturity, carry a 12-1/8 percent coupon and are priced at 101.50 percent for a contractual yield of 11.39 percent on a semi-annual equivalent basis. The bonds will mature on March 14, 1995.

The underwriting group, which is lead-managed by Banca Nazionale del Lavoro, consists of banks from Italy and other European countries.

The proceeds of this issue will be swapped into US dollars which will be used in the general operations of the World Bank.