Inaugural Mortgage Covered Securities issue

Bank of Ireland announces that its wholly owned subsidiary, Bank of Ireland Mortgage Bank (a registered designated mortgage credit institution for the purposes of the Asset Covered Securities Act, 2001 Ireland) has mandated Barclays Capital, Deutsche Bank, Citigroup and Davy to lead manage its inaugural Mortgage Covered Securities issue. The launch will follow investor meetings, which are intended to occur in Autumn 2004, subject to market conditions.

30 July 2004

Enquiries:
Vincent Digby
Head of Funding Desk
Global Markets
+353 1 799 3140

Anne Mathews
Group Corporate Communications
+353 1 604 3836

Mick Stewart
Group Investor Relations
+353 1 604 3511