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PRESS RELEASE September 13, 1991

World Bank Plans New Global Bond Issue

The World Bank announced today that in the coming weeks it plans to launch a new U.S. dollar global bond issue. The issue, which will be $1.5 billion in size, will be underwritten and distributed simultaneously in the Euromarkets and in the U.S. and the Japanese domestic markets. As with the prior issues, these securities are designed to trade globally, on a 24-hour basis, through integrated clearing systems in the U.S. and the Euromarkets.

In preparation for the global bond issue the Bank announced the formation of the management group of investment dealers that will bring the issue to market. CS First Boston and Goldman, Sachs & Co. will serve as joint book running lead managers. The other members of the management team are Daiwa Securities, Deutsche Bank Capital Markets Limited, IBJ International Limited, J.P. Morgan Securities, Lehman Brothers, and The Long-Term Credit Bank of Japan, Limited, Merrill Lynch Capital Markets, Morgan Stanley & Co., Incorporated, and Yamaichi Securities.