RNS Number:6300S
Bank of Ireland(Governor&Co)
28 November 2003



Bank of Ireland and HP Sign $600 Million Contract
for Global IT Outsourcing Services

Seven-year contract includes managed services, consulting and integration
services, and customer support services

DUBLIN, Ireland, and PALO ALTO, Calif., Nov. 28, 2003 - Bank of Ireland and HP
(NYSE:HPQ) today announced that they have signed a seven-year, $600 million
contract for global IT services, one of the largest outsourcing deals ever in
Ireland and the United Kingdom.

Following a competitive bid process, HP was selected for exclusive contract
negotiation in April of this year. During the intervening period, an extensive
due diligence phase has been undertaken and relevant regulatory approvals have
been sought and granted by the Irish Financial Services Regulatory Authority and
the Financial Services Authorities in the UK.

HP Services will manage the bank's entire IT infrastructure, including desktop
systems, servers, mainframes, local area networks, printing operations and
service desk.

HP will provide solutions and services based on its Adaptive Enterprise
strategy, designed to help companies measure, architect and manage change by
creating a tighter linkage between business and IT. HP Services will help the
bank to minimize operating costs and reduce volume consumption.

"Completion of this contract marks the culmination of a lengthy process, during
which Bank of Ireland assessed a number of potential service providers," said
Cyril Dunne, Group Chief Information Office, Bank of Ireland. "We chose HP
because of its proven managed services capability, its presence as a large IT
services provider in Ireland and its attractive plan for the transfer and
subsequent welfare of Bank of Ireland's IT staff. The contract supports our
ambition to maintain industry-leading IT capability and greater certainty around
IT costs."

"HP's relationship with the Bank of Ireland reinforces our position as a global
leader in IT services," said Ann Livermore, executive vice president, HP
Services. "It is another example of our continued commitment to helping
customers enjoy a more flexible and adaptive IT environment while helping to
lower their business expenses."

Approximately 500 employees will transition from Bank of Ireland to HP as part
of the contract.

For further information:

David Holden                              Brad Bass
Bank of Ireland Group                     HP
+00353 1 6043833                          +1 240 744 8119


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