Interim results for the six months ended 31 March 2008

ANGLO IRISH BANK CORPORATION PLC

Interim results for the six months ended 31 March 2008

H I G H L I G H T S

Anglo Irish Bank today (Wednesday 7 May 2008) releases its Interim Report for the six month period to 31 March 2008. Key highlights include:

Profitability and shareholder value

  • Reported profit before taxation of €667 million, up 16%
  • Underlying profit before taxation of €647 million, up 17%
  • Underlying earnings per share of 69.7 cent, an increase of 15%
  • Strong return on equity of 26%
  • Interim dividend of 7.78 cent, an increase of 20%

Operational performance

  • Controlled lending growth of €6.1 billion, up 10% on a constant currency basis to €69 billion
  • Excellent asset quality with impaired loans representing 0.52% of total loan balances and an annualised impairment charge of 0.10%
  • Strong growth in funding of €9.9 billion on a constant currency basis with customer deposits up €5.6 billion, or 11%
  • Over 90% of new customer lending funded by growth in customer funding
  • Active cost management with cost to income ratio improving from 22% to 19%
  • Strong capital position with Tier 1 and Total Capital ratios of 8.7% and 11.9% respectively

Commenting on the results, David Drumm, Group Chief Executive, said:

“The Bank has delivered another strong performance in the six months ending 31 March 2008, with underlying earnings per share increasing 15% to 69.7 cent.

An unwavering commitment to asset quality, stable net interest margins, excellent liquidity and a robust funding franchise position the Bank well for the remainder of 2008 and beyond.

The relevance of our strict underwriting criteria and relationship focused business model has been underlined by the current challenging environment for all banks. Organic potential in each of our core markets combined with the strength of our franchise creates significant opportunity for our business in the medium to long term.”

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For further information, please contact:

David Drumm, Group Chief Executive
Willie McAteer, Finance Director & Chief Risk Officer
Matt Moran, Chief Financial Officer
Anglo Irish Bank
Tel: +353 1 616 2000

Billy Murphy,Drury Communications
Tel: +353 1 260 5000

Full details of our interim results are available on our website