15 May 2009

Retail and institutional investors welcome the unique opportunity to make an investment that protects millions of lives against preventable diseases.

London, 15 May 2009 - The International Finance Facility for Immunisation Company (IFFIm) successfully raised more than GBP 266 million in five-year funds from retail and institutional investors. The funds raised will be used by the GAVI Alliance, a public-private partnership, to support vaccination programmes in 70 developing countries.

A broad range of individual investors have shown that they want their money to be safe, earn a market rate of return and also make a difference.

Alan Gillespie, Chairman, IFFIm Board

The total amount raised through IFFIm's debut in the Sterling market far surpasses initial expectations, when IFFIm announced its intentions to offer a Sterling investment in March 2009. At that time, IFFIm was looking to raise approximately GBP 50 million in the UK market.

"This is an exceptional result for IFFIm, extending its reach in the capital markets. A broad range of individual investors have shown that they want their money to be safe, earn a market rate of return and also make a difference." said Dr. Alan Gillespie, Chairman of the IFFIm Board. "The funds are for GAVI's immunisation programmes that benefit millions of children worldwide. A quarter of the institutional orders came from ethical investors - this shows how powerful IFFIm's story is with institutional investors as well."

Investors either invested in the retail-targeted Vaccine Investment Plan and Individual Savings Account ("ISA") offering, or the institutionally-targeted standard fixed coupon benchmark tranche.

"The innovative Vaccine Investment ISA has raised the awareness of the British investing public of the valuable role of IFFIm and the GAVI Alliance. HSBC is also glad to have worked with RBS to raise significant medium term funds from leading U.K. institutional and ethical investors, which will contribute directly to raising immunisation levels in the world's developing economies. I hope that the sterling market will remain a cost-effective source of finance for IFFIm in future years," said Robert Gray, Chairman, Debt Finance & Advisory, HSBC Bank plc.

"The success of this transaction illustrates the growing importance of ethical investments for institutional and private investors in the United Kingdom. In collaboration with the World Bank Treasury, RBS was delighted to have been involved in this IFFIm fund-raising alongside HSBC, and look forward to continuing to develop our presence in this important new asset class." said John Hourican, Chief Executive, RBS Global Banking & Markets.

Individual demand is growing for financial investments with a humanitarian purpose

Demand from individuals for investments with a humanitarian purpose has grown significantly over the past few years. HSBC, in collaboration with IFFIm, the GAVI Alliance and the World Bank (IFFIm's Treasury Manager), designed the ISA structure to satisfy retail demand in the UK. Working with First Direct and Marks & Spencer Money, HSBC and its partners launched a communications campaign to generate interest in the ISA investment and raise awareness for the immunisation programmes of the GAVI Alliance. The campaign included TV, Radio and National Press coverage, and an event hosted by the UK Sustainable Investment and Finance Association (UKSIF) to introduce IFFIm to its members, as well as meetings with private bankers and financial institutions in London. Investment sizes for the ISA tranche ranged from GBP 1,000 to GBP 14,400, demonstrating that many private citizens share a willingness to select investments that offer more than a financial return.

Institutional investor tranche responds to demand for benchmark Sterling Offering

The institutional tranche was introduced last week to respond to feedback from institutional investors interested in IFFIm bonds with a fixed coupon structure. IFFIm's inaugural Sterling benchmark tranche was lead managed by HSBC and the Royal Bank of Scotland. It priced shortly before noon (New York time) on Wednesday, May 6, 2009 and was 30% oversubscribed. Over 40 investors purchased this tranche, including many investors with a specific commitment to ethical and sustainable investing. This sponsorship, in conjunction with the unexpectedly large volume of cost-effective funds raised, is testament to the resounding success of IFFIm's debut Sterling benchmark transaction.

Summary of the final bond terms for the new offering*:

Summary of terms for individual tranches:

*Details of the Terms and Conditions are available in the Pricing Supplement that is to be read in conjunction with IFFIm's most recent base prospectus describing IFFIm's Global Debt Issuance Programme

Investor Distribution

About the GAVI Alliance

The GAVI Alliance is a public-private partnership that aims to immunise children and strengthen health systems in the world's poorest countries. It brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry in both industrialised and developing countries, research and technical agencies, NGOs, the Bill & Melinda Gates Foundation and private philanthropists. GAVI provides vaccines against diphtheria, tetanus, pertussis combined with haemophilus influenzae type b and hepatitis B as so-called pentavalent (five antigens in one vaccine) as well as vaccines against measles, yellow fever, pneumococcal diseases (pneumonia and meningitis) and rotavirus (diarrhoea).

About IFFIm

International Finance Facility for Immunisation Company (IFFIm) is a multilateral development institution created to accelerate the availability of predictable, long-term funds for health and immunisation programmes through the GAVI Alliance (formerly the Global Alliance for Vaccines and Immunisation) in 70 of the poorest countries around the world. IFFIm was created as a development financing tool to help the international community achieve the Millennium Development Goals. IFFIm's financial base consists of legally binding grants payments from its sovereign sponsors (France, Italy, Norway, South Africa, Spain, Sweden and the UK), on the basis of which IFFIm's is rated AAA/Aaa/AAA (Fitch/Moody's/S&P). The World Bank is the Treasury Manager for IFFIm. IFFIm was established as a charity with the Charity Commission for England and Wales and is registered in England and Wales as a company limited by guarantee with number 5857343 and as a charity with number 1115413.

About the World Bank

The World Bank is a global development cooperative owned by 187 member countries. Its purpose is to help its members achieve equitable and sustainable economic growth in their national economies and to find effective solutions to pressing regional and global problems in economic development and environmental sustainability. The goal is to help overcome poverty and improve standards of living for people worldwide. The International Bank for Reconstruction and Development (IBRD), rated Aaa/AAA (Moody's/S&P), is the oldest and largest entity in the World Bank Group and provides funding, risk management tools and credit enhancement to sovereigns. To fund this activity, IBRD has been issuing debt securities in the international capital markets for 60 years. The World Bank is also the Treasury Manager for IFFIm. In that capacity, the World Bank, as IFFIm's agent, manages IFFIm's finances according to prudent policies and standards. This includes IFFIm's funding strategy and its implementation in the capital markets, rating agency and investor outreach, hedging transactions and investment management. The World Bank also coordinates with IFFIm's donors and manages their pledges and payments as well as IFFIm's disbursements for immunisation and health programmes through the GAVI Alliance.

Rachel Winter Jones
The World Bank (Paris)
Office: +33 1 4069 3052

Disclaimer

This press release is not an offer for sale of Notes of the International Finance Facility for Immunisation Company ("IFFIm"), in the United States. The Notes are not being registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to US persons except pursuant to an applicable exemption from such registration. Any offering of the Notes will be made only by means of a prospectus containing detailed information regarding IFFIm and its management, including financial statements. Such prospectus will be made available through IFFIm. This press release does not constitute an offer for sale of the securities described. The offering and sale of the securities described in this document are subject to restrictions under the laws of several countries. Securities may not be offered or sold except in compliance with all such laws.

THIS DOCUMENT IS NOT AN OFFER FOR THE SALE OF SECURITIES. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, IN OR INTO, DIRECTLY OR INDIRECTLY, THE UNITED STATES