€860,000 prize bond winnings unclaimed

INVESTORS who hold €375.1m in prize bonds received a return of 2.75% tax free in prize money but a massive €860,000 in winnings remains unclaimed by 5,000 bond holders.

The Prize Bond Company yesterday published its annual report which shows sales increased by 11% to €83m in 2002 with the value of prizes increasing by 12% to €9.34m. However, payments to investors who cancelled their prize bonds came to €42.7m giving net sales of €40.2m in 2002.The company, a joint venture between An Post and FEXCO, operates the draw on behalf of the National Treasury Management Agency (NTMA) which manages the national debt on behalf of the minister for finance.

Prize Bond company chairman MichaelO’Keeffe, commenting on the results said: “I believe that investors are increasingly attracted to Prize Bonds as a secure, attractive, risk-free investment option.