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PRESS RELEASE December 9, 1991

World Bank Announces Swiss Franc 125 Million Private Placement

The World Bank today announced a private placement offering in Switzerland of SwF 125 million (about US$90 million equivalent). The 7-year notes, which have a bullet maturity, carry a 7 percent coupon and are priced at 101-3/4, for a contractual yield of 6.57 percent on a semi-annual equivalent basis. The notes will mature on January 7, 1999.

The underwriting group consists of Banque Paribas (Suisse), the lead-manager, and two co-lead managers, J.P. Morgan (Switzerland) and Lehman Brothers (Switzerland).