Bank of Ireland Group Appointment

Bank of Ireland today (Monday 9 October 2006) announced the appointment of Michael Grealy to the new position of CEO Alternative Investments at the Group's Capital Markets Division with immediate effect. He is currently Head of Group Human Resources and he will continue to manage this function pending a new appointment.

In his new role Michael Grealy will have responsibility for the Group's interests in international and alternative investment businesses covering Iridian, Guggenheim Advisors and Paul Capital Top Tier Investments, all based in the United States. He will also be responsible for investment product distribution through the global sales and client service platform. Michael Grealy currently serves on the boards of Iridian, Guggenheim Advisors and Paul Capital Investors. In this role he will report to Denis Donovan, CEO Capital Markets.

Commenting on the appointment Denis Donovan said "Our strategy in asset management is to build a diversified portfolio of investment boutiques and to create a significant international distribution capability to sell investment solutions to institutional investors and their consultants. The creation of this new senior position underlines the significance of our diversification strategy. The appointment of a person of the calibre and experience of Michael Grealy shows our commitment to succeeding in our growth ambitions in the alternative investment arena. I am confident we will see successful integration of these businesses and strong growth under his leadership."

Ends

Michael Grealy
Michael Grealy joined Bank of Ireland Group in 2002 as Head of Group HR where he has been responsible for the delivery of a challenging strategic and commercial HR agenda. Michael previously worked with Boston Scientific, Baxter Healthcare and Digital Equipment Corporation in Ireland, and with Seagate Technology in the USA, France and Ireland. He holds a B.Ed (Psych) from University College Dublin, and MSc Management (Organisational Behaviour) from Trinity College Dublin and is a Fellow of the Institute of Bankers.

Contact:

Dan Loughrey,
Head of Group Corporate Communications
Tel:00 353 1 604 3833