Irish Permanent's chief executive, Mr Roy Douglas, has made a paper profit of more than £1 million after buying shares at an option price. Mr Douglas bought 120,000 shares at 180p, the share price when Irish Permanent floated four years ago. The shares are currently trading at 990p, giving Mr Douglas a paper profit of £1.04 million.

In another transaction, Irish Permanent director Mr Peter Ledbetter has made a paper gain of £1.13 million after buying 129,400 shares at the 180p flotation price. Mr Ledbetter now owns 162,196 Irish Permanent shares, worth £1.6 million at current market prices, and 126,600 options, worth £1.1 million.