Company Profile For Irish Life & Permanent PLC

Irish Life & Permanent plc is a provider of personal financial services to the Irish market. Its business segments include banking, which provides retail banking services; insurance and investment, which includes individual and group life assurance and investment contracts, pensions and annuity business written in Irish Life Assurance plc and Irish Life International, and the investment management business written in Irish Life Investment Managers Limited; general insurance, which includes property and casualty insurance carried out through its associate, Allianz-Irish Life Holdings plc, and other, which includes a number of small business units. On June 30, 2008, it acquired the rest of the 50% interest in Joint Mortgage Holdings No. 1 Limited (the parent of Springboard Mortgages Limited), resulting in Springboard Mortgages becoming a wholly owned subsidiary. On December 23, 2008, it acquired an additional 23% of Cornmarket Group Financial Services Ltd, bringing its interest to 98%.

BRIEF: For the six months ended 30 June 2009, Irish Life & Permanent's revenues totaled EUR1.36B, vs. a negative revenues of EUR1.59B. Net loss totaled EUR215M vs. an income of EUR208M. Revenues reflect the presence of income from investment return vs. an expense and higher premiums on insurance contracts. Net loss reflects the presence of change in investment contract liabilities vs. an income and higher impairment loss on loans.