PRESS RELEASE

06/04/2008

THE NEW IRELAND FUND INC. HOLDS ANNUAL MEETING

Boston, Massachusetts, June 4, 2008 - The New Ireland Fund, Inc. (the "Fund") held its annual stockholder meeting on Tuesday, June 3rd, 2008.

The only proposal before the meeting was for the re-election of Ms. Margaret Duffy and Mr. Michael Grealy as directors of the Fund. Mr. Grealy recently joined the Board to fill the vacancy created by the resignation of Mr. Brendan Donohoe. The proposal was carried, by a substantial majority.

In the 2004 Annual Report, shareholders were advised that the investment strategy of the Fund, as revised in March 2001, to involve a bias toward high growth Irish companies drawn from the technology, telecommunications and health care sectors was being amended to remove the bias towards those particular sectors. However, at the time, it was also emphasized that the strategy would continue to have a bias towards Ireland's growth companies. The Board has recently re-affirmed this investment strategy.

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 is managed by Bank of Ireland Asset Management (U. S.) Limited and is listed on the New York Stock Exchange under the ticker symbol - IRL.

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