Statement by Irish Life & Permanent plc

Company sets EGM date for 17th December 2009.

Wednesday 4th November 2009.  Irish Life & Permanent plc has confirmed that it has set the date for the previously announced EGM of the company to consider the creation of a new holding company. The EGM will take place in Dublin on the 17th December next.  

The EGM is being held to seek shareholder approval for the creation of a new Irish incorporated holding company to be called Irish Life & Permanent Group Holdings plc which will list on the Dublin and London Stock Exchanges.  It is proposed that this new company will acquire the shares of existing shareholders in Irish Life & Permanent plc in exchange for its own shares on a one-for-one basis.  

In addition to the EGM, the plans for the new holding company will require a Court convened meeting of shareholders which will also take place on the 17th December next.  The Court convened meeting is required because the restructuring is being effected by means of a scheme of arrangement.    

Shareholders will receive explanatory documentation relating to the scheme of arrangement, together with notice of the meetings, in due course.

This announcement does not constitute an offer or recommendation to sell or an invitation to purchase or subscribe for any securities. Any decision in relation to the scheme of arrangement and related proposals should be made only on the basis of the related documentation as and when issued.

Further Information:

Ray Gordon

Gordon MRM

Ph: 01 6650452

Ph: 087 2417373