UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the date of 14 February, 2005 ALLIED IRISH BANKS, public limited company Bankcentre, Ballsbridge, Dublin 4, Republic of Ireland Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F..X... Form 40-F..... Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ..... No ..X... If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________ For Immediate Release 14 February 2005 ALLIED IRISH BANKS, p.l.c. Sale and Leaseback of New Bankcentre Development Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) today advises that it is in discussions with a number of parties with a view to entering into a sale and leaseback transaction in relation to its new Bankcentre Development project. AIB confirms that it has initiated a process which may lead to contracts being signed by mid-year. AIB envisages that such a transaction would generate a capital benefit in the region of EUR100 million, which would be derived over a number of years. -Ends- For further information please contact: Alan Kelly Catherine Burke Head of Group Investor Relations Head of Corporate Relations AIB Group AIB Group Bankcentre Bankcentre Ballsbridge Ballsbridge Dublin 4 Dublin 4 Tel: +353-1-6600311 ext. 12162 Tel: +353-1-6600311 ext. 13894 Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised. ALLIED IRISH BANKS, p.l.c. (Registrant) Date 14 February, 2005 By: ___________________ Gary Kennedy Group Director, Finance, Risk and Enterprise Technology Allied Irish Banks, p.l.c.