Anglo Irish Bank Corporation Limited (‘Anglo’) Requirements under Credit Institutions (Stabilisation) Act

On 8 February 2011 Anglo Irish Bank Corporation Limited ("Anglo") received a Direction Order from the High Court directing Anglo to take certain steps related to the Joint EC Restructuring and Work Out Plan (the "Restructuring Plan") for Anglo and Irish Nationwide Building Society ("INBS") submitted on 31 January 2011 to the European Commission. Amongst other things, Anglo was directed to formulate a detailed steps plan for its combination with INBS in conjunction with INBS, formulate detailed steps plans for rationalisation of Anglo's overseas offices and branches and formulate a detailed steps plan for the disposal of Anglo's Wealth Management Business, and deliver all these plans to the National Treasury Management Agency ("NTMA") no later than 31 March 2011. Anglo complied with these directions. On 8 April 2011 the Minister for Finance imposed requirements (the "Requirements") on Anglo pursuant to Section 50 of the Credit Institutions (Stabilisation) Act 2010 (the "CISA"), requiring Anglo to implement, subject to certain conditions, high level steps plans based on the steps plans mentioned above and set out in the Requirements. Anglo has also been required to draw up and implement, in conjunction with INBS and the NTMA, a high level restructuring document based on the Restructuring Plan, subject to any variations directed and approved by the European Commission.

Each of the Requirements is a reorganisation measure for the purposes of Directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 (the "CIWUD Directive") and the European Communities (Reorganisation and Winding-Up of Credit Institutions) Regulations 2011 (the "2011 Regulations"). Accordingly, the Requirements are intended to have full effect in accordance with the CIWUD Directive, the 2011 Regulations and the CISA including, in particular but not limited to, Section 61 of the CISA.

-Ends-

11 April 2011

For further information please contact:

Maarten van Eden

Chief Financial Officer

Tel: + 353 1 616 2000