Irish Life & Permanent PLC

RE: IRISH LIFE & PERMANENT PLC
    EUR 500,000,000.00
    MATURING: 27-Mar-2006
    ISSUE DATE: 27-Mar-2001
    ISIN: XS0126505402

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
29-Dec-2003 TO 29-Mar-2004 HAS BEEN FIXED AT 2.292000 PCT.

INTEREST PAYABLE VALUE 29-Mar-2004 WILL AMOUNT TO
EUR 57.94 PER EUR 10,000.00 DENOMINATION.
EUR 579.37 PER EUR 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 020 7508 3858/3855 OR FAX: 44 020 7508 3881.