Investor Presentaiton

Asset Management Services Income Statement Mar 06 Mar 05 €m €m % Change Net Interest Income 7 4 50 Other Income 215 252 (14) - Total Income 222 256 (2) Operating Expenses (137) (131) 5 - Profit Before Tax 85 125 (32) Assets Under Management Mar 06 €bn Mar 05 €bn % Change 6% % PBT PBT (32%) Profit decline as guided BIAM: Continued net fund outflows - €11.3bn Slower pace Loss of higher margin business Iridian & BoISS continue to perform well Repositioning Division & broadening activities: Acquired 71.5% Guggenheim Advisors AMS profits do not reflect full year impact of BIAM mandate losses BIAM AUM €45.1bn €46.9bn (4) - Iridian AUM $10.7bn $10.3bn Guggenheim AUM $2.9bn 34 Bank of Ireland Group

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