PRESS RELEASE

04/24/2007

The New Ireland Fund, Inc. Announces Appointment of New Director

Boston, Massachusetts, April 24, 2007 - The Board of Directors of The New Ireland Fund, Inc. is pleased to announce the appointment of David Dempsey as a director of the Fund. Mr. Dempsey is a Managing Director at Bentley Associates L.P., an investment bank located in New York. Prior to joining Bentley Associates, Mr. Dempsey worked with a number of banks in New York and London, on the merger and acquisition and corporate finance sides and also with a major management consulting firm.

Mr. Dempsey has been a board member of 205-69 Inc., Pennell Venture Partners Marathon Fund, L.P., a private equity fund and of AIESEC U.S. Inc. He is also a principal and co-founder of the American Aviation Network LLC. Mr. Dempsey, who was born in Ireland, has been recognized, on two occasions, as an honoree in Irish America's "Wall Street 50". Mr. Dempsey replaces Mr. James Walton, who, for personal reasons, recently retired from the Board of the Fund.

The New Ireland Fund, Inc. 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, which is managed by Bank of Ireland Asset Management (U. S.) Limited, is listed on the New York Stock Exchange under the trading symbol "IRL".

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

Website: newirelandfund.com