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12 September 2008

Bank of Ireland Offshore Introduces 3 Year Growth Bond

Bank of Ireland Offshore has announced the launch of the 3 Year Growth Bond.

This fixed term deposit bond tracks two major stock market indices and offers the potential to earn up to 32% gross* / 9.7% AER† while guaranteeing the initial capital.

The investment is linked to, but not invested directly in, the Indices. Therefore the investment will not benefit from individual dividend income or the reinvestment opportunity from the companies listed in these Indices. Although the initial capital is secure, its value could be eroded by the effects of inflation.

Michael McKay, Managing Director for Bank of Ireland Offshore, said:

“Given the current market conditions the 3 Year Growth Bond offers a good opportunity to secure your capital whilst having the potential to earn a competitive return over a short term.”

The bond will only be available for a limited period closing on November 7 2008. The minimum investment is £5,000 with a maximum of £1 million.

For further information, please contact:

Sandra Grandison	Bank of Ireland	+44 (0)20 3201 6509
Claire Gorman	Bank of Ireland	+44 (0)20 3201 6510

Notes to Editors

* Is the gross potential maximum return payable at maturity/AER† rate of 9.7%. This does not take into account any deductions of income tax. Please see the Taxation section on page 4 of the product brochure for more information. AER† stands for Annual Equivalent Rate and illustrates what the return would be if it was paid and compounded each year.

The FTSE 100 is calculated by FTSE International Limited. FTSE International does not sponsor, endorse or promote this product and is not in any way connected to it and does not accept any liability in relation to its issue, operation and trading. “FTSE”, “FT-SE”, and “Footsie” are trade marks of the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited under licence. “All-World”, “All-Share” and “All-Small” and “FTSE4Good” are trademarks of FTSE International Limited. All copyright in the index values and constituent list vests in FTSE International Limited. Bank of Ireland (I.O.M) Limited has obtained full licence from FTSE International Limited to use such copyright in the creation of this product.

The Nikkei Stock Average (“Index”) is an intellectual property of Nihon Keizai Shimbun, Inc. (the “Index Sponsor”). “Nikkei”, “Nikkei Stock Average”, and “Nikkei 225” are the service marks of the Index Sponsor. The Index Sponsor reserves all the rights, including copyright, to the index. The Products are not in any way sponsored, endorsed or promoted by the Index Sponsor. The Index does not make any warranty or representation whatsoever express or implied, either as to the results to be obtained as to the use of the Index or the figure as which the Index stands at any particular day or otherwise. The Index is complied and calculated solely by the index sponsor. However, the index Sponsor shall not be liable to any person for any error in the index and the index sponsor shall not be under any obligation to advise any person, including a purchase or vendor of the products, of any error therein. In addition, the sponsor gives no assurance regarding any modification or change in any methodology used in calculating the index is under no obligation to continue the calculation, publication, and dissemination of the index.

Bank of Ireland UK Financial Services (UKFS) combines the sterling denominated businesses within the Bank of Ireland Group, incorporating Business Banking, Personal Lending and Consumer Financial Services, representing joint ventures with the UK Post Office. The Bank of Ireland in Northern Ireland, part of Business Banking, is a leading player in both personal financial services and in corporate and business banking.

Bank of Ireland UKFS operates its businesses out of London, Belfast, Bristol and Reading with a workforce of approximately 3,600 staff. The division generates in excess of £352m profits before tax, similar to companies listed in the FTSE top 70, with annual growth over 18% achieved. UKFS manages about £45bn of quality customer loans and over £16bn of customer deposits with strong growth demonstrated within each book. Customer numbers with the Post Office relationship have reached almost 1.5 million in four years and continue to grow strongly.

Bank of Ireland’s Offshore business was established in the Isle of Man in 1981. Bank of Ireland (I.O.M.) Limited, based in the Isle of Man, is the Head Office and the company also has a branch in Guernsey.

Bank of Ireland (I.O.M.) Limited provides a wide range of call, fixed term, structured deposits, international payments and foreign exchange services to both personal and corporate customers and currently has deposit levels in excess of £3 billion.