*

Hitt og þetta 27. júlí 2006

Rule 8.3 South Wharf Plc

FORM 8.1/8.3

IRISH TAKEOVER PANEL

Lodge with the Irish Stock Exchange (Company Announcements Office) (which will publicise) and the Panel.

Date of disclosure: 27/07/2006

DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3 OF THE IRISH TAKEOVER PANEL ACT 1997, (TAKEOVER) RULES, 1997

Date of dealing: 26/07/2006 Dealing in: South Wharf plc

(1) Class of securities (e.g. ordinary shares): Ordinary

(2) Amount bought Amount sold Price per unit 100 6.20 EUR

(3) Resultant total of the same class owned or 1,410,678 controlled: (and percentage of class): (3.93%) *

(4) Party making disclosure: * Bank of Ireland Group and its Subsidiaries

(5) Either (a) Name of purchaser/ vendor: (Note 1)

Or (b) If dealing for discretionary Discretionary Client client(s), name of fund of management organisation: J & E Davy

(6) Reason for disclosure (Note 2) (a) (i) offeror or associate of offeror (Note 3) NO (ii) offeree or associate of offeree YES

Specify which category or categories of associate ((a) to (l) page 3 /4): If category (l), explain:

(b) Rule 8.3 (i.e. disclosure because of ownership or control of YES 1% or more of the class of relevant securities dealt in):

Signed, for and on behalf of the party named in (4) above:

(Also print name of Nicola Krawczyk signatory): Bank of Ireland Group Regulatory Risk & Compliance Telephone and extension +353-1-6044127 number:

---END OF MESSAGE---