PRESS RELEASE

02/27/2004

The New Ireland Fund, Inc. announces appointment of new Director

Boston, Massachusetts, February 27, 2004 - The Board of Directors of The New Ireland Fund, Inc. are pleased to announce the appointment of George Moore as a director of the Fund. Mr. Moore, is CEO of Targus Information, a privately held company involved in the generation of information products using intelligent call processing. In addition to his role at Targus, Mr. Moore is chairman of Performix Technologies and Buyers Choice Media and is Chairman and owner of Erne Heritage Holdings which owns Belleek and Galway Irish Crystal in Ireland. He is a member of the Ireland America Economic Advisory Board to the Irish Prime Minister and the Northern Ireland Trade & Investment Council and also serves on the boards of a number of not-for-profit institutions including The American Ireland Fund.

The New Ireland Fund is a closed-end diversified investment company that seeks long-term capital appreciation through investing at least 80% of its assets in a portfolio of Irish securities. The Fund is managed by Bank of Ireland Asset Management (U. S.) Limited and is listed on the New York Stock Exchange.

For further information, please contact the Fund at (800) 468-6475.