Anglo Irish Bank Corporation plc announced today that it raised €600 million of regulatory capital by issuing Tier one regulatory capital notes. The transaction is the one of the largest Tier one capital raisings by an Irish financial institution and was increased in size following very strong investor demand and was substantially oversubscribed. The bonds are perpetual and carry a coupon of 6% in the first year and thereafter a coupon linked to the ten year constant maturity swap. The issue, which was arranged by ABN AMRO and Merrill Lynch, was sold to institutional and high net worth investors throughout Europe.

Commenting on the issue, John Bowe, Head of Debt Capital Markets at Anglo Irish Bank said “We are delighted that investors have responded so positively to this long term capital transaction which reflects their confidence in the future growth and development of the Bank. The significant size of the capital raising, has been raised at very attractive pricing and provides capital to enable the Bank to continue to expand its lending activities into the future”.

For further information please contact:

John Bowe
Head of Debt Capital Markets
Telephone: +353 1 616 2649

Brian Murphy
Director of Treasury
Telephone: +353 1 616 2600

21 September 2004