Irish Life & Permanent PLC

RE: IRISH LIFE AND PERMANENT PLC
    GBP 50,000,000.00
    MATURING: 31-Jan-2005
    ISSUE DATE: 12-Jan-2004
    ISIN: XS0183637395

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
12-Jan-2004 TO 30-Jan-2004 HAS BEEN FIXED AT 3.888060 PCT.

INTEREST PAYABLE VALUE 30-Jan-2004 WILL AMOUNT TO
GBP 191.74 PER GBP 100,000.00 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.