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PRESS RELEASE March 12, 1990

World Bank Announces Swiss Franc Private Placement

The World Bank announced today a private placement offering in Switzerland of SwF 100 million (about US$ 66.7 million equivalent). The 8-year notes which have a bullet maturity carry a 7-3/8 percent coupon priced at 101 percent, for a yield of 7.08 percent on a semi-annual equivalent basis. The bonds will mature on April 30, 1998.

The underwriting group, which is lead-managed by Swiss Bank Corporation with Union Bank of Switzerland and Credit Suisse as co-lead managers, consists of Swiss banks and a group of foreign banks based in Switzerland.