Anglo to place 33m ordinary shares

Anglo Irish Bank Corporation (AIBC) is placing about 33 million new ordinary shares. The number of shares to be issued will be within Anglo's 5% placement capacity as approved by ordinary shareholders at the annual general meeting on January 28, 2005.

"This placing reflects the board's confidence in the future," said chief executive David Drumm.

"This new capital, together with the sizeable investment we have made in our people and infrastructure, provide an excellent platform to take AIBC through its next phase of growth."