Irish Life & Permanent PLC

RE: IRISH LIFE & PERMANENT PLC
USD 13,584,000.00
MATURING: 16-Dec-2004
ISSUE DATE: 14-Dec-2001
ISIN: XS0140361055

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 15-Dec-2003 to
15-Mar-2004 HAS BEEN FIXED AT 1.170000 PCT.

INTEREST PAYABLE VALUE 15-Mar-2004 WILL AMOUNT TO
USD 2.96 PER USD 1,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON 
TEL: 44 020 7508 3858/3855 OR FAX: 44 020 7508 3881.