Irish Life & Permanent PLC

RE: IRISH LIFE AND PERMANENT PLC
    USD 17,649,000.00
    MATURING: 06-Sep-2005
    ISSUE DATE: 04-Sep-2001
    ISIN: XS0135158243

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
08-Dec-2003 TO 08-Mar-2004 HAS BEEN FIXED AT 1.220000 PCT

INTEREST PAYABLE VALUE 08-Mar-2004 WILL AMOUNT TO:
USD 3.08 PER USD 1,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3857/3855 OR FAX: 44 20 7508 3881