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PRESS
RELEASE
05/24/2004
The
New Ireland Fund Quarterly Portfolio Update
Boston,
May 24, 2004 - The New Ireland Fund, Inc. today released
its Quarterly portfolio update as of April 30, 2004.
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 April 30, 2004 |
% of
Fund |
| Construction
and Building Materials |
20.32 |
| Financial |
19.56 |
| Food and
Beverages |
14.28 |
| Health
Care Services |
8.07 |
| Leisure
and Hotels |
7.02 |
| Business
Services |
4.54 |
| Transportation |
4.47 |
| Diversified
Financial Services |
4.19 |
| Pharmaceuticals |
3.39 |
| Telecommunications |
3.28 |
| Food
and Agriculture |
3.10 |
| Top
10 Holdings as of April 30, 2004 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
15.15 |
| CRH
PLC |
Construction
and Building Materials |
12.64 |
| Kerry
Group PLC, Series A |
Food
and Beverages |
11.72 |
| United
Drug PLC |
Health
Care Services |
4.65 |
| DCC
PLC |
Business
Services |
4.55 |
| Ryanair
Holdings PLC |
Transportation |
4.47 |
| FBD
Holdings PLC |
Financial |
4.40 |
| Kingspan
Group PLC |
Construction
and Building Materials |
4.31 |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
4.26 |
| Irish
Life & Permanent PLC |
Diversified
Financial Services |
4.19 |
| Total Net
Assets: |
US $83,737,367 |
| Net Asset
Value: |
$17.75 |
| Market
Price: |
$15.00 |
| Prem/(Disc): |
(15.49%) |
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.
Website:
newirelandfund.com
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