Irish Nationwide Building Society Deposits (8447B)

TIDMIPM TIDM74SV

RNS Number : 8447B

Irish Life & Permanent Grp HldgsPLC

25 February 2011

Irish Life & Permanent Group Holdings plc

Statement on the Transfer of selected assets and liabilities from Irish Nationwide Building Society 25 February 2011

Irish Life & Permanent Group Holdings plc (the "Group") announces that pursuant to yesterday's Transfer Order (under the Credit Institutions (Stabilisation) Act 2010) issued by the High Court, Irish Nationwide Building Society ("INBS") has transferred selected assets and liabilities into the Group's banking business, Irish Life & Permanent plc, (t/a permanent tsb), (the "Transfer") which comprise EUR3.6bn of INBS deposits and the shares in INBS' Isle of Man subsidiary. Under the Transfer of Undertakings Protection of Employees ("TUPE") legislation 237 employees of INBS have transferred to the Group with the selected INBS deposits. No branches of INBS were acquired. The Group will make a further announcement in due course.

Contact details:

Customers

Help desk: 1850 522 522

Investor Relations

Barry Walsh, Head of Investor Relations

Tel: +353 1 704 2678

Orla Brannigan, Investor Relations

Tel: +353 1 704 1345

Media

Ray Gordon, Gordon MRM

Tel: +353 1 665 0450

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