Response to Press Speculation

25 Apr 2005 11:37

25 April 2005 The Board of Chesnara notes the recent press speculation regarding thepotential acquisition by Chesnara of City of Westminster Assurance CompanyLimited, the closed life assurance subsidiary of Irish Life & Permanent plc("Irish Life & Permanent").As previously stated, Chesnara has looked at a number of potential acquisitiontargets. Chesnara confirms that it is in discussions with Irish Life &Permanent regarding this particular potential transaction but no agreement hasbeen reached and the outcome of these discussions is not certain. A furtherannouncement will be made when appropriate.Chesnara plc Tel: 01772 840001 Graham Kettleborough, Chief Executive Cubitt Consulting Tel: 020 7367 5100 (public relations advisers to Chesnara) Michael Henman/Selena Hedley Lewis ENDCHESNARA PLC