The Prize Bonds Company, the joint venture between An Post and Fexco which currently operates the prize bonds scheme, is to tender for the new contract when the current contract to operate the scheme ends later this year, the chairman of the company, Mr Michael O'Keeffe, has stated.

Last year, the Prize Bonds Company increased sales of bonds by 54 per cent to £43.9 million (€55.7 million) while the overall prize bond fund grew by 15 per cent to £179 million. A total of £5.6 million was distributed in prizes last year to 33,000 winners of the weekly and monthly prizes.