PRESS RELEASE

03/30/2005

The New Ireland Fund

Boston, March 30, 2005 - The New Ireland Fund, Inc. today released its Quarterly shareholder report as of January 31, 2005. A copy of this report is available on the fund’s Website – www.newirelandfund.com.

The Fund is a closed end mutual fund managed by Bank of Ireland Asset Management (U.S.) Limited and is traded on the New York Stock Exchange under the trading symbol “IRL”.

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