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The World Bank Increases USD Inflation-Linked Bond

Washington, DC, December 1, 2003 – The World Bank increased an inflation-linked bond that was originally launched on November 19, 2003. Over the past few months, demand for bonds with coupons and / or principal linked to inflation has increased. The World Bank has been responding to that demand by issuing targeted, customized inflation-linked bonds denominated in USD and in Euros.

The total size of the bond that was increased today, is USD 35 million. It was issued to respond to specific US retail demand. The lead manager was Morgan Stanley. The coupon is linked to the US CPI, as specified in the terms of the bond. As registered notes, the securities will be eligible for clearing through the major clearing systems - Euroclear and Clearstream in Europe, and DTC in the US.

Further characteristics are:

Settlement date: December 10, 2003
Original maturity: 10 years, due December 10, 2013
Issue price: 100%
Denomination: USD 1,000
Interest payment dates: Monthly
Listing : Luxembourg
Clearing systems : DTC, Euroclear or Clearstream

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).

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