PRESS RELEASE

03/01/2006

The New Ireland Fund, Inc. Monthly Portfolio Update

Boston, March 1, 2006 - The New Ireland Fund, Inc. today released its Monthly portfolio update as of February 28, 2006.

Security Name
Shareholding
US $ Market Value
Shareholding
ALLIED IRISH BANKS PLC
881,321
21,046,622
17.07%
C&C GROUP
462,383
3,087,146
2.50%
CRH PLC
592,479
19,397,280
15.73%
DCC PLC
243,763
5,550,965
4.50%
EIRCOM GROUPPLC
1,340,829
3,520,924
2.86%
FBD HOLDINGS PLC
117,402
5,694,083
4.62%
FYFFES PLC
640,733
1,604,219
1.30%
GETMOBILE EUROPE PLC
900,000
450,670
0.37%
GRAFTON GRP PLC-UTS
504,565
6,196,146
5.02%
GREENCORE GROUP PLC
401,256
1,645,687
1.33%
HORIZON TECHNOLOGY GROUP PLC
1,321,900
1,922,763
1.56%
IAWS GROUP PLC
193,289
3,835,423
3.11%
ICON PLC - SPONSORED ADR
71,646
3,439,008
2.79%
INDEPENDENT NEWS & MEDIA PLC
1,564,683
4,980,867
4.04%
IONA TECHNOLOGIES PLC SPON ADR
169,300
597,629
0.48%
IRISH ESTATES PLC
500,000
1,460,506
1.18%
IRISH LIFE & PERMANENT PLC
248,182
5,471,098
4.44%
KERRY GROUP PLC-A
466,873
10,331,040
8.38%
KINGSPAN GROUP PLC
663,458
9,587,015
7.77%
MCINERNEY HOLDING PLC
196,675
2,942,796
2.39%
RYANAIR HLDG
650,000
5,936,213
4.81%
UNITED DRUG PLC
996,401
4,549,883
3.69%


The holdings are subject to change at any point in time hereafter.

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.

The New Ireland Fund, Inc. is managed by Bank of Ireland Asset Management (U.S.) Limited, an indirect wholly owned subsidiary of Bank of Ireland Group.

Website: newirelandfund.com