The Creative Secure Growth Bond is an opportunity for you to invest in a high yielding subordinated bond issue from Anglo Irish Bank for either a 5 or 7 year period. The bond offers a very competitive rate of return as well as potential increases in this rate should market rates rise over the investment period. Product features are summarised in the following table:

The rates quoted above are the minimum rates. These rates will be reviewed quarterly on September 30th, December 31st, March 31st and June 30th (or nearest working day thereafter). Where the average 3 month inter-bank rate has been higher than the bond interest rate in the previous interest rate period, 50% of this difference will be added to the bond interest rate until the next interest rate review date. Note that if a rate has been increased for one interest rate review period, it is possible that it may be reduced in the next review period should the average 3 month inter-bank rate fall. However, this review mechanism means that while investors' returns cannot fall below the rates quoted above, these rates have the potential to increase should the average 3 month inter-bank rate increase as described.

What is a subordinated bond?
Investing in a subordinated bond means that you are investing in the capital of Anglo Irish Bank Corporation plc. However, unlike a direct equity investment, the Bank is providing 100% capital security and a minimum rate of return. Funds invested in a subordinated bond take precedence over shareholders' funds at all times, but not over deposits. However, the taxation treatment on interest received is that of a deposit account (currently 20%) with no further income tax liability to the investor

Who should consider this investment?
This bond is suitable for those with a minimum of �5,000 to invest for a period of at least 5 years. It can be used for capital growth (i.e.interested compounded) or to provide a half-yearly income (interest paid out). No access will be allowed to capital once the investment is made and therefore investors should be satisfied that the amount invested will not be required over the investment term chosen. If a Bond Holder chooses to have interest compounded, there will be no subsequent access to that interest for the term of the Bond. However, the bond is transferable during the period chosen subject to the terms and conditions included in this brochure.

How is interest paid?
Interest will be paid on a 6 monthly basis. The first interest payment date will be September 30th 2000, and 6 monthly thereafter.

Repayments
All bonds will be repayable on their maturity date on the 5th or 7th Anniversary of the placement of funds. Where interest has been compounded, this will also be repaid at the same time. Criminal Justice Act 1994

To ensure compliance with the Criminal Justice Act of 1994 the investor(s) will be required to produce photographic evidence of identity and address verification. A drivers licence or passport, along with a utility bill will normally suffice for individual investors.