Irish Life & Permanent PLC

RE: IRISH LIFE & PERMANENT PLC
    GBP 100,000,000.00
    MATURING: 25-Feb-2005
    ISSUE DATE: 25-Feb-2002
    ISIN: XS0143515152

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
25-Nov-2003 TO 25-Feb-2004 HAS BEEN FIXED AT 4.046250 PCT.

INTEREST PAYABLE VALUE 25-Feb-2004 WILL AMOUNT TO GBP 10.20 PER 
GBP 1,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON TEL: 
44 20 7508 3858/3855 OR FAX: 44 20 7508 3881.