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3rd May 2006

New Product from Bank of Ireland Offshore

Bank Of Ireland (I.O.M.) Limited, in conjunction with its branch Bristol & West International, based in Guernsey, has launched the Guaranteed Return Equity Bond.

This is a fixed term (5 year) Bond that gives investors a competitive guaranteed return of 15%* gross and the opportunity to benefit from the growth potential of four major global stock market indices with the reassurance of a capital guarantee.

With the Bank of Ireland Capital Guarantee investors will receive all of the initial investment plus the greater of:

• A minimum 15%* gross return or
• A return based on a Participation Rate of 55% of the performance of a “basket” of 4 global stock market indices selected (the FTSE 100, Nikkei 225, SMI and the S&P 500), adjusted by an averaging method.

The product, with a minimum investment level of £5,000, is only available for a limited offer period and the Offer Period will close on June 30th 2006.

Commenting on the launch David Gilpin, responsible for Marketing and Product Development at Bank of Ireland Offshore, said:

“Given current market conditions, we believe that our latest product will prove to be popular with those investors who are looking for a highly attractive guaranteed rate of return and also benefit from the exciting growth potential of some of the world’s best known financial markets - without any risk of losing capital.”

For more information on this new product please contact David Gilpin on (01624 644227).