Termination of Repo Transaction with IBRC

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

Termination of securities repurchase transaction with Irish Bank Resolution Corporation

The Bank notes yesterday's announcement by the Irish Government that it will liquidate Irish Bank Resolution Corporation ("IBRC").

As a consequence the Government Guaranteed Repurchase transaction of Irish Government Bonds entered into by the Bank and IBRC on 19 June 2012 will be terminated on a no gain / no loss basis to the Bank effective on the Eurosystem settlement date of 13 February 2013.

ENDS

For further information please contact:

Bank of Ireland

Andrew Keating Group Chief Financial Officer +353 (0)766 23 5141

Tony Joyce Head of Group Investor Relations +353 (0)766 23 4729

Dan Loughrey Head of Group Communications +353 (0)766 23 4770