New Chairman Appointed

Paddy Power plc
26 May 2003

Paddy Power plc Appoints New Chairman

The Board of Paddy Power plc announced today (Monday, 26th May 2003) the
appointment of Fintan Drury as Chairman of the Company to succeed Stewart Kenny,
who announced his intention to retire as Chairman.  Stewart Kenny remains on the
Board of the Company as a non-executive Director.

Commenting, Stewart Kenny said: 'As one of the founders of Paddy Power I believe
I can best serve the Company as a non-executive Director inputting in certain
areas where management can utilise my capabilities.  In addition, this new role
will give me greater time to devote to my other interests.  I have no doubt that
the Paddy Power culture of punter focussed service, irreverence and flair will
continue to set us apart from the rest of the pack under the guidance of the
Board and the executive team.  I am very pleased that Fintan Drury has agreed to
succeed me as Chairman.  I know that his talents, business experience and
strategic insight will be a strong and positive influence on the entire Company.
I look forward to working with him and the rest of the team at Paddy Power, as
we meet the challenges and opportunities that lie ahead.'

Fintan Drury was appointed a non-executive Director of Paddy Power plc in August
2002.  He is Chairman of sports management company, DSMI and is a Director of a
number of private companies.  He is also a non-executive Director of Anglo Irish
Bank plc.

                                    - Ends -

26th May 2003


Issued on behalf of Paddy Power by Drury Communications

For reference:

Stewart Kenny                                         Billy Murphy/Oonagh Daly
Fintan Drury                                          Drury Communications
Paddy Power plc                                       Tel:   [phone]
Tel:   [phone]


Trevor Phillips
Holborn PR
Tel: [phone]



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