Investor Presentaiton

27 The UK Economy The UK economy is remaining buoyant... GDP Growth (yoy.%) 5 4 3 2 1 0 2000 2001 2002 2003 2004 2005(f) UK - Eurozone The mortgage market is recovering after a softening with house prices proving more resilient than predicted Housing supply remains unresponsive to demand underpinning the positive outlook GDP growth has outperformed its European peers Enjoying full employment, unemployment well below the EU norm Inflation is low and is predicted to remain so in the medium term Interest rate cycle more muted than previously UK Monthly Mortgage Approvals (000) 140 130 120 110 100 90 80 70 60 03q1 03q3 04q1 04q3 05q1 05q3(e) Bank of Ireland KKO

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