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PRESS RELEASE April 29, 1996

World Bank Borrows Spanish Pesetas

The World Bank today launched a public offering of fixed rate notes in the Spanish peseta market for an amount of ESP 10 billion (USD equivalent 79.3 million). The three-year notes pay an annual coupon of 7.75 percent and are priced at 101.145 percent of par. The notes will mature on May 28, 1999.

The underwriting group, which is led by Banco Santander de Negocios, consists of ten banks located in Spain.

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