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PRESS RELEASE November 20, 2006

World Bank and Dresdner Bank Join Up for Socially Responsible Investments

Washington, November 20, 2006 – The World Bank today announced that it has issued a EUR 25* million bond that will be placed with German retail investors exclusively through Dresdner Bank’s branch network. Dresdner Bank clients will be able to invest a minimum of EUR 1,000 in a 13-month World Bank bond with an annual coupon of 3.35%. The coupon will be paid on the maturity date. The issue targets investors in Germany who are interested in contributing through their investment to the World Bank’s sustainable development mandate.

"We are very pleased to be back in the German retail market, this time in a sole partnership with Dresdner Bank. German investors are recognizing that they can both earn a sound return on their savings and at the same time have their investment address pressing global issues, such as poverty and the environment," said Kenneth G. Lay, World Bank Vice President and Treasurer.

“Through the good cooperation of Dresdner’s investment bank and the World Bank we are now in a position to exclusively offer our retail customers and new clients an innovative product of this kind. With the purchase of the bond, the customers can achieve a good return, while at the same time supporting the efforts of the World Bank towards sustainable development”, notes Andreas Georgi, member of Dresdner Bank’s Board of Managing Directors.

Issuer: International Bank for Reconstruction and Development
Rating: AAA/Aaa
Settlement date: December 15, 2006
Maturity Date: January 10, 2008
Issue price: 100%
Coupon: 3.35% per annum (paid at maturity)
Denomination: EUR 1,000 and integral multiples thereof
Listing: None
Clearing systems: Euroclear and Clearstream
ISIN / WKN: XS0275735412 / A0G2A7
Sole Lead Manager: Dresdner Kleinwort

Socially Responsible Investment (SRI) describes an investing approach that is becoming increasingly popular, especially among retail investors. It integrates social and environmental concerns into investment decisions.

For more information on the World Bank and World Bank debt securities, please visit and

For Dresdner Bank, development means that economic growth and social prosperity must go hand in hand with the preservation of natural resources. “We consider sustainability to be an integral part of entrepreneurial activity that adds long-term value. Credit or investment decisions can bear significant hidden risks, which can only be challenged by a systematic review of ecological, political, ethical and social factors,” says Dresdner Bank on its web site.

More information on Dresdner Bank AG is available at

* The bond was increased to EUR 30 million on December 11, 2006