SUPPLEMENT DATED 6TH NOVEMBER 2009 TO THE

OFFERING CIRCULAR DATED 24TH JULY 2009

AS SUPPLEMENTED BY THE SUPPLEMENT DATED 13TH AUGUST 2009

Anglo Irish Bank Corporation Limited

(Incorporated in Ireland and operating under the Companies Acts, 1963 to 2009,
Registered Number 22045)

€30,000,000,000 Euro Medium Term Note Programme

This Supplement (this Supplement) is supplemental to, forms part of and should be read in
conjunction with the Offering Circular dated 24th July 2009, as supplemented by the supplement dated
13 August 2009 (as so supplemented, the Offering Circular). The Offering Circular comprises a
base prospectus for the purposes of Directive 2003/71/EC (the Prospectus Directive) and this
Supplement constitutes a base prospectus supplement for the purposes of Article 16 of the Prospectus
Directive and is prepared in connection with the €30,000,000,000 Euro Medium Term Note
Programme (the Programme) established by Anglo Irish Bank Corporation Limited (formerly Anglo
Irish Bank Corporation plc) (Anglo Irish or the Issuer). This Supplement has been approved by the
Financial Regulator, as competent authority under the Prospectus Directive 2003/71/EC. The
Financial Regulator only approves this Supplement as meeting the requirements imposed under Irish
and EU law pursuant to the Prospectus Directive.

The provisions of the Prospectus Directive do not apply to any issue of Senior Notes under the
Programme having a maturity date falling on or before 29th September 2010 and no election has been
made by Anglo Irish for such Senior Notes to be treated as being within the scope of the Prospectus
Directive.

Terms defined in the Offering Circular have the same meaning when used in this Supplement.

Anglo Irish accepts responsibility for the information contained in this Supplement. To the best of the
knowledge of Anglo Irish (which has taken all reasonable care to ensure that such is the case) the
information contained in this Supplement is in accordance with the facts and does not omit anything
likely to affect the import of such information. This declaration is included in this Supplement in
compliance with item 1.2 of annex XI to Commission Regulation (EC) 809/2004.

The Irish Government has neither reviewed this Supplement nor verified the information contained in
it and the Irish Government takes no responsibility with respect to and does not accept any
responsibility for the contents of this Supplement or any other statement made or purported to be
made on its behalf in connection with the Offering Circular and/or this Supplement. The Irish
Government accordingly disclaims all and any liability whether arising in tort or contract or otherwise
which it might otherwise have in respect of the Offering Circular as supplemented by this Supplement
or any such statement.

Regulatory Capital Derogations

On 3rd November 2009 Anglo Irish announced that the Financial Regulator had, at the request of
Anglo Irish, on a temporary basis and in exceptional circumstances, exercised its discretion to
continue to set Anglo Irish's minimum total capital ratio at 8%, being the minimum requirement as set
out in the Capital Requirements Directive, and to grant derogations from certain specified
requirements previously applicable to Anglo Irish. This announcement entitled "Regulatory Capital
Derogations" was filed by Anglo Irish with the Irish Stock Exchange on 3rd November 2009 and is set
out below.

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RNS Number : 8165B

03 November 2009
07:00

ANGLO IRISH BANK CORPORATION LIMITED

REGULATORY CAPITAL DEROGATIONS

Anglo Irish Bank Corporation Limited (the 'Bank') reported in its Interim Report for the six months to
31 March 2009 that, in light of the Government's commitment to recapitalise the Bank, the Financial
Regulator had granted certain derogations until 31 July 2009 or such shorter period if the Bank's
capital ratios were restored to a level compliant with capital ratio requirements in place prior to the
granting of these derogations.

In light of the Government's continued support and its commitment to provide an appropriate level of
capital to the Bank to enable it to continue to meet its capital requirements, the Financial Regulator on
30 October 2009, at the request of the Bank, on a temporary basis and in exceptional circumstances,
exercised its discretion to continue to set the Bank’s minimum total capital ratio at 8%, being the
minimum requirement as set out in the Capital Requirements Directive, and to grant derogations from
the following requirements previously applicable to the Bank:

• that Tier 1 capital comprises at least 50% of the Bank's regulatory capital;
• that Core Tier 1 capital must be, at a minimum, 4% of risk weighted assets;
• that collective provisions included in Tier 2 capital cannot exceed 1.25% of risk weighted assets;
• to apply a risk weight of 150% to certain Irish commercial property loans advanced prior to 31
October 2009; and
• to deduct €169m from Total capital.

The above derogations apply to all regulatory returns submitted from 30 October 2009 and have been
granted until 30 April 2010 or such shorter period if the Bank's capital ratios are restored to a level
adequate to enable it to comply with its existing capital ratio requirements in place prior to the
granting of these derogations.
Full details of the Financial Regulator's derogations are as follows:

1. The minimum total capital requirement for credit institutions is 8% as set down by Regulation 19
of the European Communities (Capital Adequacy of Credit Institutions) Regulations 2006 (SI No.
661 of 2006) (the 'CRD Regulations'). The Financial Regulator has imposed a higher minimum
total capital ratio requirement of 9.5% on the Bank. While the Financial Regulator has already
granted a derogation on the minimum required total capital ratio from 9.5% to 8% until 31
December 2009, the timeline for this derogation is now extended to be consistent with that of the
other derogations i.e. up to a review of this decision at 30 April 2010.

2. Under Regulation 11(6) of the CRD Regulations the Bank is authorised to exceed the limits set
out in Regulation 11(1)(a).

3. The Financial Regulator's requirements in relation to Own Funds as set out in paragraph 3.2.1 (i)
and (ii) of BSD S 1/04, Notice to Credit Institutions (Alternative Capital Instruments: Eligibility
as Tier 1 Capital) shall not apply to the Bank.

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4. In accordance with the national discretion provisions afforded to member states under Annex VI
of the Capital Requirements Directive 2006/48/EC the Financial Regulator imposed a risk
weighting of 150% to speculative commercial real estate with effect from 1 January 2007. This is
as set out in paragraph 2.2, Type A Discretions (ref 20) of the Financial Regulator's notice on
Implementation of the CRD (28 December 2006) (the 'Implementation Notice'). This shall be
amended in the case of the Bank to 100% in respect of the value of all exposures as at 31 October
2009 meeting the definition of speculative commercial real estate as defined in the
Implementation Notice. Any increase in such exposures after that date or any new exposures
arising after that date meeting the definition of speculative commercial real estate shall continue
to have a risk weighting of 150%.

5. The Financial Regulator has in place a restriction on the level of general provisions that may be
included in Tier 2 of 1.25% of risk weighted assets, as set forth in Paragraph 2.2 (iv) of the
Financial Regulator's notice BSD S 1/00. This limit of 1.25% shall not apply to the Bank.

6. The Financial Regulator grants a derogation from the requirement, set out in its letter of 25 July
2008, to make a deduction of €169m from Total Own Funds.

The derogations granted by the Financial Regulator correspond to those applicable to 31 July 2009
save that they do not include certain previous derogations as follows:
• that lower Tier 2 capital cannot exceed 50% of Tier 1 capital;
• that Core Tier 1 capital comprises at least 51% of Tier 1 capital; and
• that the total amount of innovative non-Core Tier 1 capital instruments is limited to 15% of Tier 1
capital.

-Ends-

General

To the extent that there is any inconsistency between (a) any statement in this Supplement and (b) any
other statement in or incorporated by reference in the Offering Circular, the statements referred to in
(a) above will prevail.

Save as disclosed in this Supplement, there has been no significant change and no significant new
matter has arisen since the publication of the Offering Circular.

An investor should be aware of its rights, if any, arising pursuant to Article 16 of the Prospectus
Directive, as implemented in Irish law pursuant to Regulation 52 of the Prospectus (Directive
2003/71/EC) Regulations 2005.

For as long as Notes are capable of being issued under the Programme, copies of the current Offering
Circular in relation to the Programme, together with any amendments or supplements thereto
(including this Supplement) may be inspected physically at the registered office of the Issuer and
specified offices of the Paying Agents for the time being in London and Frankfurt.

Supplement dated 6TH November 2009

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