Residents in Dublin's coveted D4 addresses have only two years left until their exclusive postcode is renamed by the Department of Communications, as plans for the new postcode system are finalised byMinister Eamon Ryan.
The department plans to issue tenders for the system by Easter, but a delay has meant the code will not be in place until the end of 2011, and not early next year as planned.
Under the new coding system, areas such as Dublin 4 and Dublin 6 will be renamed under a new six-digit system, such as D04123 and D06123.
However Labour's spokeswoman for Communications, Energy and Natural Resources, Liz McManus, said the latest estimates for the new system show it will cost a minimum of €40m.
McManus has also said businesses will suffer further financial hardships as they will be forced to change their address records and data.
"This is not the time to be implementing this system, and it appears to be nothing more than a vanity project for the minister."