AIB Govett Corporate Identity Change.

NEW YORK--(BUSINESS WIRE)--Sept. 9, 1997--AIB Govett Asset Management Holdings Limited (formerly called John Govett & Co. Limited), a subsidiary of Allied Irish Banks, p.l.c. [NYSE: AIB; AIBPR; FMBPR], today announced a change in corporate identity for many of the asset management companies in the AIB Group. In the United States, AIB Govett Inc. was recently formed and registered as an investment adviser with the Securities and Exchange Commission.

AIB Govett Inc., with headquarters in San Francisco, will be responsible for business development and client service of AIB Govett's institutional and individual investors, and the Govett Funds, a U.S. mutual fund company, which offers six portfolios:

-- Emerging Markets

-- Global Income

-- International Equities

-- Latin America 

-- Pacific Strategies

-- Smaller Companies

This corporate identity change for AIB Group's asset management affiliates will not affect the Govett Funds portfolios, whose names, strategies and managers remain the same.

Kevin Pakenham, Chief Executive of AIB Asset Management Holdings Limited, said: "Following the acquisition of John Govett by AIB in 1996, we became a truly global investment management business. We have operations in London, Dublin, Singapore, San Francisco, Jersey, Bangalore, Budapest and Mexico City. We believe that the name 'AIB Govett' more properly captures the global identity and corporate strengths of the group.

"Extensive market research showed that the name Govett was perceived as a quality investment management company and that AIB is recognized as a strong, successful, international bank. Combining the two names helps our clients better understand the considerable resources and expertise available to them."

CONTACT: Andrew Yemma

Walton-Yemma Communications

212/661-1620