Survey shows almost 50% have owned prize bonds

A survey published today show that almost half of the Irish population have owned prize bonds at some stage.

The survey coincides with the publication of the Prize Bond Company's annual report for 2003, which announced gross sales of €134.5m - an increase of 62% on 2002.

€53.8m worth of bonds were cashed in during 2003, leaving net sales of €80.7m.

Total prize money given away last year was €10.8m. This was made up of 105,322 prizes, 23% more than in 2002.

The company also reported internet sales of €3.2m from its website www.prizebonds.ie. This marked an increase of 220% on the previous twelve months.

There is now a total of €454m invested in Prize Bonds across the country. Each bond costs €6.25 and there is a minimum €25 purchase of four units.

The draw has been running since 1957 with all money invested in Prize Bonds included as part of Ireland's National Debt.

"The strong gross sales during 2003 reflect the attractiveness of the Prize Bonds product as a secure, risk-free, state guaranteed investment option," commented Michael O'Keeffe, Chairman of The Prize Bond Company.

"It is encouraging to note the results of a recently conducted survey by Lansdowne Market Research highlighting that 45% of the Irish population have at some time invested in Prize Bonds."