Irish Life & Permanent PLC

RE: IRISH LIFE & PERMANENT PLC
GBP 4,000,000.00
MATURING: 29-Dec-2005
ISSUE DATE: 29-Dec-2000
ISIN: XS0122585424

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 29-Dec-2003 to
29-Mar-2004 HAS BEEN FIXED AT 4.110000 PCT.

INTEREST PAYABLE VALUE 29-Mar-2004 WILL AMOUNT TO
GBP 102.47 PER GBP 10,000.00 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.