permanent tsb has reached agreement with the IRFU on a new three year sponsorship deal for the Irish national rugby team. The new deal will run from May 2003 to May 2006. It will see the bank invest up to 5 million in sponsorship of the national team and related expenditure. It is one of the largest sponsorship packages in Irish sport.

Speaking about the new arrangement, Roy Douglas Chairman of Irish Life and Permanent plc said that the Group was delighted to have agreed an extension to the current sponsorship agreement, "The sponsorship of the Irish rugby team is one of the most prestigious sponsorships in Irish sport. We've benefited enormously from this sponsorship over the last ten years and we see our continued linkage with the Irish national team as a critical part of our marketing strategy for permanent tsb in the years to come. We are, of course particularly delighted with the wonderful achievements of the team over recent times and we wish them every success in the months ahead - and particularly in this Sunday's historic Grand Slam match."

The current sponsorship deal between the bank and the IRFU has operated since 1999. The new sponsorship deal will see permanent tsb continue as the exclusive national team sponsor. The permanent tsb name will be displayed - as currently - on the Irish team jerseys and related sportswear. permanent tsb will continue to sponsor the Ireland A and the three autumn international test matches held at Lansdowne Road.