New York

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ANGLO IRISH BANK
Davy Irish Equity Conference

• New York
• 7 January 2005

David Drumm Chief Executive Designate
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2004 Profit Loss Overview
(m)
2004
2003
Pre-tax profit 504.1 346.5 Like for like
profit 504.1 393.9
EPS 114.5c 78.0c Like for like
EPS 114.5c 90.0c
Before general bad debt provisions
Record profits and EPS
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2004 Balance Sheet - Overview
(bn)
2004
2003
Total assets 34.3 25.5 Loans 24.4 18.1 Funding 29.
1 22.4 Capital resources 3.9 2.3
Restated at Sept - 04 currency exchange rates
Robust balance sheet
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Investor Questions

• Scalability of model
• Margins
• Markets
• Succession
• Strategy

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Lending Model
2. Cashflow
1. People
ASSET QUALITY
3. Security
4. Recourse
Asset quality consumes the Bank
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Lending - Ireland
Centralised model
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Lending - UK
Centralised model
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Lending - Boston
Centralised model
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Centralised Model

• Weekly Credit Committee in Dublin
• Key Benefits Credit Control
• Empowerment of Lenders
• Scalability?

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Asset Quality
Continuous assessment of credit
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Lending Growth
(bn)
38 CAGR
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Margins

• Lots of noise in Irish market
• Impacting commodity products
• Immune from margin liability compression
• Pricing not only factor

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Succession

• Evolution
• Experienced team
• Seamless transition

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Market Characteristics IRE, UK Boston

• Market Positioning Bank of Choice
• Focused, not Universal
• Repeat Business

Responsiveness, flexibility and certainty of
execution
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Markets Growth Potential

• Experience Market Share
• Ireland 30 years lt15
• UK 20 years lt3
• Boston 7 years N/A

Attractive long term growth opportunity
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Fundamentals

• Asset quality

• People

Simple ingredients for value creation
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Work in progress September 2004
Total WIP 4.1Bn
53
Ireland 2,151m
UK 1,647m
41
6
Boston 257m
Excellent pipeline augurs well for 2005
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Future Strategy

• Continue to follow our Proven Strategy
• Retain our Centralised Business Model
• Asset Quality is paramount not sacrificed for
  volume
• Continue diversification of Funding Base
• Largely Organic acquisitions only if fit strict
  criteria

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