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PRESS RELEASE May 6, 2004

World Bank Launches South African Rand Bond

Washington, DC, May 6, 2004 - Today, the World Bank launched a South African Rand (ZAR) bond issue. The ZAR 250 million bonds responded to strong demand from European retail investors for bonds from a high quality issuer denominated in South African Rand. RBC Capital Markets lead managed the transaction, with Deutsche Bank and ING Bank NV as Senior Co-Lead Managers, and Dexia Capital Markets, DZ Bank AG, KBC International Group and Rabobank International as Co-Lead Managers.

Amount: ZAR 250 million
Settlement date: May 21, 2004
Maturity Date: May 21, 2007
Coupon: 9.5% 
Denomination: ZAR 10,000
Form of Notes: Bearer
Listing: Luxembourg
Clearing systems: Euroclear or Clearstream
ISIN Code: XS0192450632

The bonds will also trade electronically on the RBC Automated Execution System (RBC X on Bloomberg).

The World Bank's bond products and investor presentation can be accessed through the website of the World Bank for bond investors (www.worldbank.org/debtsecurities).  For a list of selected bonds issued recently by the World Bank, see: List of Selected Recent World Bank Bonds.


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