Bank of Ireland raised USDollar3 Billion of term funding in the US Market

Bank of Ireland Group today (17 December 2006) announced that it has successfully raised USDollar3 Billion in funding from the domestic US Long-Term Debt Market. The Deal was priced following an extensive US based debt investor roadshow. Pricing on the deal comprised of a Dollar1.75billion 2 year transaction at Libor +1 and Dollar1.25 billion 3 year transaction at Libor +5.

Key Highlights:

This issue is part of Bank of Ireland's successful wholesale funding programme. The overall order book was well diversified with a range of quality investor types including Banks, Pension Funds, State Treasury's and Asset Managers.

Austin Jennings, Chief Executive, Bank of Ireland Global Markets said:
"The success of this benchmark issue consolidates Bank of Ireland's global reputation amongst international debt investors. The deals' competitive pricing and the quality and breadth of the investor base is testament to the quality of the Bank's credit rating and the confidence that international investors have in the Irish economy and Bank of Ireland."

Goldman Sachs and Morgan Stanley were joint lead managers on this transaction.

Ends

Contacts

Anne Mathews
Group Corporate Communications
Bank of Ireland
Ph. 01 609-3836 or 087 2460358

Damien Daly
Head of Marketing
Bank of Ireland Global Markets
Ph. 353-1 609 3221 or 353 86 8179415