Allied Irish Banks Addresses New York Society of Security Analysts

Business Wire, Feb 19, 1999

NEW YORK--(BUSINESS WIRE)--February 19, 1999--In a presentation today before the New York Society of Security Analysts (NYSSA), the Chief Financial Officer of Allied Irish Banks, p.l.c. (NYSE: AIB), Mr. Declan McSweeney, discussed AIB's 1998 annual earnings, released on Wednesday, February 17, 1999. Mr. McSweeney highlighted the following:

"AIB Group reported 1998 profit of IR (pound)826 million, an increase of 42% on 1997. Basic earnings per share were up 23% and adjusted earnings per share were up 33% over 1997. AIB's second interim dividend was up 28%. The adjusted return on equity was 27%. AIB Bank profit was up 39% on 1997 and the cost/income ratio was down to 55%.

"We believe our commitment to shareholder value is shown by the strong Return on Assets (adjusted) of 1.39%, Return on Equity (adjusted) of 27.3% and the 25% increase in the total dividend. We are well positioned in all our markets to continue to grow our business and to successfully support our customers needs for the advent of the new millennium."

"Performance in the buoyant economy of the Republic of Ireland generated significant volume growth, with loans higher by 26% and deposits up 13%. Our business in Britain, where we have a growing reputation and expertise in the SME sector, performed strongly and First Trust Bank in Northern Ireland achieved good profit growth."

"First Maryland Bancorp in the USA completed the integration of Dauphin Deposit and simultaneously installed a new technology platform. AIB under its own brand expanded its operations in the U.S. and now serves its customer base from offices in New York, Philadelphia and Los Angeles."

"In Poland, Wielkopolski Bank Kredytowy (WBK) continued its investment in the expansion of its branch network, focused on customer service and developed new business lines."

Commenting on his invitation to address NYSSA, Mr. McSweeney said "It's both an honor and a challenge to present before such a prestigious organization. We're stepping up our efforts to communicate with U.S. investors, who as a group have been and continue to be very supportive of AIB. We welcome opportunities to participate in the outstanding forums that NYSSA and organizations like it provide."

AIB Group, the collective name for Allied Irish Banks and its subsidiaries, is Ireland's leading banking and financial services organization. AIB Group employs more than 23,000 people worldwide in more than 900 offices and has 65,000 shareholders. The AIB Bank division operates in 317 locations in the Republic of Ireland, plus those in Northern Ireland, Britain, the Channel Islands and the Isle of Man. AIB's U.S.A. division includes First Maryland Bancorp (FMB), a bank holding company headquartered in Baltimore. FMB's principal subsidiary operates nearly 300 bank branches and more than 500 ATMs from southern Pennsylvania, through Maryland and the District of Columbia and into northern Virginia under various divisions including First National Bank of Maryland, Dauphin Deposit Bank and The York Bank. FMB's total assets were $18.3 billion at December 31, 1998. AIB owns 60.1% of the leading regional Polish bank Wielkopolski Bank Kredytowy (WBK).

Further information on Allied Irish Banks, including investor presentations, is available on AIB's website at http://www.aib.ie. Information on AIB's U.S. subsidiary, First Maryland Bancorp, is available on FMB's website at http://www.firstmd.com.