Eagle Star has a strong e-business focus and as leaders in internet technology in Financial Services, (a paper producing industry) we decided from an environmental point of view to produce this report electronically, rather than produce a high quality, graphically designed report.

The report is web-based only, a business decision which compliments our commitment to corporate responsibility, practices and development. E-communication is the method we use to communicate with all our stakeholders and therefore was the most appropriate medium for this report.

In March 2003 Eagle Star Life became the first financial services company, and indeed one of the first companies in Ireland, to publish a Corporate Responsibility report. This important step introduced a formal process of examining and measuring the impact of our business on society under the headings: Workplace, Marketplace, Community and Environment. Since then, we have focused on raising awareness across the organisation and among our stakeholders of the high value we place on integrating Corporate Responsibility into our work practices.

As a leading Pensions and Life Assurance company we have many stakeholders. Our customers entrust Eagle Star with their longest term and most important financial planning, in particular pensions and financial protection for themselves and their family. This is an important responsibility of which all of us at Eagle Star are very aware. Beyond this, we have always been aware of wider responsibilities as an employer and as a citizen of the communities in which we operate.

I believe that continuing to endorse the principles of Corporate Responsibility will further enhance the recognition and management of our responsibilities across all aspects of our business. I was delighted to confirm our commitment last year by joining with other top Irish Companies in endorsing a Corporate Responsibility Charter.

In Eagle Star's second Corporate Responsibility report we attempt to demonstrate an open and honest record of our Corporate Responsibility actions and progress to date as we continue on this significant journey.

Managing Director

September 2004