The group has an ongoing programme of meetings between its senior executives, institutional shareholders, analysts and brokers. These meetings, which are governed by procedures designed to ensure that price sensitive information is not divulged, are wide ranging and are designed to facilitate a two way dialogue based upon the mutual understanding of objectives.

In addition the chairman and the senior independent director, attend the announcement of both interim and preliminary final results, to which major shareholders are invited, and where they have the opportunity to question and discuss any issue pertaining to the business. Outside of these occasions major shareholders can meet with the chairman or the senior independent director on request.

The board is kept appraised of the views of shareholders and the market in general through the feedback from the meetings’ programme and results presentations. Analysts’ reports on the company are also circulate to the board members on a regular basis. Finally the group periodically commissions independent sample surveys of shareholders and stockbroker analysts to ascertain market perceptions of the group and any issues arising. The results of these surveys are provided to the board.

The annual report is designed, through the Chairman’s Statement and the Group Chief Executive’s Review and the Overview of Business Performance, in addition to the detailed financial information contained in the report, to present a balanced and understandable assessment of the group’s position and prospects. In addition the company uses its internet website (www.irishlifepermanent.ie) to provide information to investors. The investor relations section is updated with the company’s stock exchange releases and formal presentations to analysts and investors as they are made.

The directors comply with the 2003 Combined Code as it relates to the disclosure of proxy votes, the separation of resolutions and the attendance of Committee Chairmen at the annual general meeting.