Prize bond fund to hit €500m

THE Prize Bond Fund should exceed €500 million this year as sales continue to soar in the first three months of the year.

Sales rose by 62% to €134.5m in 2003 and chairman of The Prize Bond Company, Michael O'Keeffe said he is confident the prize bond fund, which rose by 21% in 2003 to €453.8m, will hit the €500m mark by the end of 2004.

The Prize Bond Company's annual report for the year ended December 31, 2003 shows that gross sales increased by 62% to €134.5m and that after encashments of €53.8m, net sales hit €80.7m.