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 30 January, 2006 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 30 JANUARY, 2006 AIB ANNOUNCES COMPLETION OF ARK LIFE TRANSACTION Allied Irish Banks, p.l.c. ("AIB") (NYSE:AIB) announced on 22 November 2005 that it had entered into a contract for a new bancassurance joint venture between Hibernian Life & Pensions Limited ("Hibernian Life & Pensions"), the third largest company in the Irish long-term savings market, and Ark Life Assurance Company Limited ("Ark Life"), the fourth largest, owned by Allied Irish Banks, p.l.c. ("AIB"). AIB today confirms the completion of this transaction, following the approval of the European Commission and the Financial Regulator. -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 Dublin 4 Dublin 4 Tel: +353-1-6412162 Tel: +353-1-6413894 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 30 January, 2006 By: ___________________ Gary Kennedy Group Director, Finance, Risk and Enterprise Technology Allied Irish Banks, p.l.c.