Islamic Development Bank

21 Jun 2005

Islamic Development Bank US$ 1,000,000,000 Trust Certificate Issuance Programme.

We have been appointed as transaction administrator for this new Programme, which allows for sukuk transactions to be issued in the form of Trust Certificates, and is the first of its kind to apply MTN style documentation to Sharia-compliant sukuk issues. The US$ 1 billion facility has been rated AAA by Standard and Poor's and AA by Fitch Ratings. The first issue - a US$500 million five year floating rate note - has been made in the name of IDB Trust Services, a Jersey based entity.

Law Debenture was appointed transaction administrator for the Islamic Development Bank's debut bond issue in July 2003.

Corporate Trust

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