EBA Capital Exercise and Fulfillment

The Governor and Company of the Bank of Ireland (Bank of Ireland)

EBA Capital Exercise and fulfillment of the EBA December 2011 Recommendation

Bank of Ireland notes the announcements made today by the European Banking Authority (EBA) and the Central Bank of Ireland regarding the final assessment of the capital exercise and fulfillment of the EBA December 2011 Recommendation which shows the following result for Bank of Ireland:

Bank of Ireland exceeds the required 9% Core Tier 1 ratio including the sovereign buffer as stated in the EBA December 2011 Recommendation.

Bank of Ireland's Core Tier 1 ratio at 30 June 2012, for the purpose of this EBA Capital Exercise, of 13.8% is €3 billion or 4.8% in excess of the 9% Core Tier 1 capital requirement. For the purpose of this exercise Bank of Ireland's Core Tier 1 ratio was calculated using the methodology set out in the EBA December 2011 Recommendation and reflects the exceptional and temporary capital buffer against sovereign debt exposures based on market prices as at the end of September 2011.

As noted by the Central Bank of Ireland the results show that Bank of Ireland does not require any additional capital.

The EBA Capital Exercise results applicable to Bank of Ireland are available at:

http://www.rns-pdf.londonstockexchange.com/rns/8770N_-2012-10-3.pdf

Or at our website:

www.bankofireland.com/investor

ENDS