Holding in Company

Paddy Power plc
22 March 2004

Paddy Power Plc



22 March 2004



Re: Holding in Company





A letter from Bank of Ireland Securities Services Limited dated 22 March 2004 to
the Irish Stock Exchange, received by the Irish Stock Exchange on the 22 March
2004.



In Compliance with Section 91 of the Companies Act 1990, we hereby notify you
that, as at 19 March 2004, holdings on behalf of clients in our nominee name
(Bank of Ireland Nominees Limited), in the following listed companies on the
Irish Stock Exchange, have crossed the specified thresholds as laid out below.


Stock Name            Issued Share Capital Current Holding      Current %Holding     Threshold %Crossed
Paddy Power Ord       47,807,120           11,655,357           24%                  25%
EURO.10



This shareholding does not represent solely the holdings of our clients, Bank of
Ireland Asset Management, who may or may not have a shareholding in the
underlying stock.



This statement is made to highlight the distinction between Bank of Ireland
Nominees Ltd and Bank of Ireland Asset Management.  There appears to have been a
misunderstanding by some institutions, investors and commentators that the Bank
of Ireland Nominees Holdings represented the BIAM Holding when this is not the
case.





Michael Doyle

Risk & Compliance Unit

Bank of Ireland Securities Services



This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.




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