Bank of Ireland Life seizes market opportunity with launch of new Financials Fund

Today, 15th November 2007, Bank of Ireland Life is delighted to announce the launch of its new Financials Fund. The objective of this exciting new fund is to capitalise on the short-term opportunity created by recent stock market volatility within the global financial sector, enabling investors to acquire quality financial stocks at very attractive prices.

Global markets have experienced pockets of volatility this year, mainly due to global interest rate changes, concerns about the economic outlook in the US, and the issue of sub-prime lending.

The financial sector has been significantly affected, with stockmarkets becoming volatile as investors speculated as to which financial institutions held sub-prime loans. This becomes immediately apparent when analysis shows that quality financial stocks such as Bank of Ireland and BNP Paribas, the largest French bank, have both experienced losses of 41% and 15% respectively in their share price valuations this year. However their solid earnings and dividend track record can illustrate the inherent value in these bank stocks, with both banks paying out around 40% of their earnings over the last 12 years.

The opportunity that the Financials Fund seeks to maximise is the potential of these undervalued quality financial stocks.

Chris Johns, Head of Global Research & Equity Portfolio Management at BIAM explained, "We believe the interest rate cycle is either at or close to its peak in most major economies. The prospect of lower interest rates in the coming year and the inherent value we see in a number of financial stocks today, makes our Financials Fund a very attractive opportunity for the astute investor."

Bernard Walsh, Head of Investments, Bank of Ireland Life commented on the opportunity that the Financials Fund presents investors, "We believe that the response of the world's central banks will ultimately go a long way to restoring confidence in money and credit markets. Once this confidence is fully restored and volatility returns to more normal levels, investors in our Financials Fund should realise the unique growth opportunity offered by select financial stocks."

The Financials Fund is aimed at experienced investors seeking growth, who are prepared to accept an element of risk. The minimum investment required to participate in the fund is €20,000 while the fund is expected to close in early January 2008. Investors also have the option to invest in a Geared version of the Financials Fund, giving them the chance to maximise their exposure within the fund through borrowing. Further details are available on request from the Investment Adviser at your local Bank of Ireland branch.

ENDS

Notes to Editors:

For further information contact:

Laura Erskine
Public Relations Manager
Bank of Ireland Life
Ph. 01 617 2586
Mob. 086 856 2929

Audra Dutton
Group Consumer Communications
Bank of Ireland
Ph. 01 604 3750
Mob. 086 818 3932