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PRESS
RELEASE
02/14/2003
The
New Ireland Fund Quarterly Portfolio Update
NEW
YORK - February 14, 2003 - The New Ireland
Fund, Inc. today released its Quarterly portfolio update as of January
31, 2003.
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, 2003 |
% of
Fund |
| Financial |
17.62% |
| Food &
Beverages |
16.22% |
| Construction
and Building Materials |
15.40% |
| Health
Care Services |
9.33% |
| Transportation |
8.06% |
| Leisure
and Hotels |
7.90% |
| Telecommunications |
7.76% |
| Business
Services |
4.68%
|
| Top
10 Holdings as of January 31, 2003 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
14.91% |
| Kerry
Group PLC, Series A |
Food
and Beverages |
13.43% |
| CRH
PLC |
Construction
and Building Materials |
10.90% |
| Ryanair
Holdings PLC |
Transportation |
8.06% |
| United
Drug PLC |
Health
Care Services |
5.23% |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
5.19% |
| DCC
PLC |
Business
Services |
4.68% |
| Spectel
PLC |
Telecommunications |
4.55% |
| ICON
PLC-ADR |
Health
Care Services |
4.11% |
| Conduit
PLC- Registered Shares GDR |
Telecommunications |
3.14% |
| Total Net
Assets: |
US$57,938,909 |
| Net Asset
Value: |
$11.70 |
| Market
Price: |
$9.27 |
| Prem/Disc: |
(21.769%) |
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.
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