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PRESS
RELEASE
02/13/2004
The
New Ireland Fund Quarterly Portfolio Update
Boston,
February 13, 2004 - The New Ireland Fund, Inc. today released
its Quarterly portfolio update as of January 31, 2004.
Investment
Objective; The New Ireland Fund, Inc., (N.Y.S.E. - IRL) a closed-end
diversified investment company, seeks long-term capital appreciation
through investment of at least 80% of its assets in a portfolio
of Irish securities.
| Sector
Breakdown as of January 31, 2004 |
% of
Fund |
| Financial |
21.27 |
| Construction
and Building Materials |
19.95 |
| Food and
Beverages |
13.49 |
| Health
Care Services |
7.89 |
| Leisure
and Hotels |
6.45 |
| Diversified
Financial Services |
5.02 |
| Transportation |
4.56 |
| Business
Services |
4.36 |
| Pharmaceuticals |
3.76 |
| Food
and Agriculture |
3.05 |
| Top
10 Holdings as of January 31, 2004 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
17.16 |
| CRH
PLC |
Construction
and Building Materials |
12.18 |
| Kerry
Group PLC, Series A |
Food
and Beverages |
10.68 |
| Irish
Life & Permanent PLC |
Diversified
Financial Services |
5.02 |
| United
Drug PLC |
Health
Care Services |
4.85 |
| Kingspan
Group PLC |
Construction
and Building Materials |
4.61 |
| Ryanair
Holdings PLC |
Transportation |
4.56 |
| DCC
PLC |
Business
Services |
4.36 |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
4.30 |
| FBD
Holdings PLC |
Financial |
4.09 |
| Total Net
Assets: |
US $86,235,442 |
| Net Asset
Value: |
$18.10 |
| Market
Price: |
$15.20 |
| Prem/(Disc): |
(16.02%) |
The
New Ireland Fund is managed by Bank of Ireland Asset Management
(U.S.) Limited, an indirect wholly owned subsidiary of Bank of Ireland
Group.
Website:
newirelandfund.com
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