Irish Life & Permanent PLC

RE: IRISH LIFE & PERMANENT PLC
    USD  7,502,000.00
    MATURING: 22-Sep-2006
    ISSUE DATE: 17-Dec-2002
    ISIN: XS0159774693

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Dec-2003 TO 22-Mar-2004  HAS BEEN FIXED AT 1.17000 PCT

INTEREST PAYABLE VALUE 22-Mar-2004 WILL AMOUNT TO:
USD 2.96 PER USD 1,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3857/3855 OR FAX: 44 20 7508 3881