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PRESS RELEASE October 26, 2005

First World Bank Icelandic Krona Deal

Washington, DC, October 26, 2005 – The World Bank launched its very first bond denominated in Icelandic Krona today. Icelandic Krona is the 44th currency in which the World Bank has raised funding for its development activities, since issuing its first USD bond in 1947.

The 2-year World Bank ISK 3 billion bonds launched today are being offered in response to demand from European and North American retail and institutional investors for bonds denominated in ISK of the highest credit quality (AAA/Aaa). 

Toronto Dominion is the sole lead manager for the bonds.

The issue has been very well received by retail investors, especially in Switzerland and the Benelux countries, as well as by European and North American institutional investors. 

A summary of the terms is as follows:

Amount: ISK 3 billion
Settlement Date: 9 November, 2005
Maturity: 9 November, 2007 
Issue Price: 100.285%
Coupon: 8% per annum
Denomination: ISK 100,000
Governing Law: English
Listing: Luxembourg
ISIN Code: XS0234166386

Additional Information on the World Bank is available on the investor website http://treasury.worldbank.org.