Allied Irish Banks, p.l.c. - Exchange of Outstanding Securities by Exchange Offers

Market Wire, June, 2009

Embargo 07.00
22nd June 2009

Allied Irish Banks, p.l.c. - Exchange of Outstanding Securities by Exchange Offers

Allied Irish Banks, p.l.c. ("AIB") (NYSE: AIB) today announces that it and its subsidiary, AIB Capital Exchange Offering 2009 Limited, have accepted offers to exchange six series of Euro and Sterling denominated Tier 1 and Tier 2 securities for the equivalent of circa EUR 1.3bn of new Lower Tier 2 capital qualifying securities (comprised of two series of c. EUR 868m & c. £368m) to be issued on 25th June 2009. The face value of the securities received in the exchange is approximately EUR 2.4bn. The securities will be exchanged for between 50% and 67% of their face value in line with the previously announced exchange prices.

The equity accretion for AIB Group arising from the exchange offers is expected to be circa EUR 1bn.

For further details on the exchange offers please see the Exchange Offer Memorandum dated 11th June 2009.

-ENDS-

For further information please contact:
Alan Kelly
General Manager Group Finance
AIB Group
Dublin 4

Tel:   353 1 6412162


Ronan Sheridan
Corporate Relations Manager
AIB Group
Dublin 4

Tel:   353 1 6414651

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