PRESS RELEASE

08/15/2008

The New Ireland Fund Quarterly Portfolio Update

Boston, August 15th, 2008 (PR Newswire etc) - The New Ireland Fund, Inc. today released its Quarterly portfolio update as of July 31, 2008.

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.



Total Net Assets:   US $82,871,443
Net Asset Value:   $ 16.55
Market Price:   $ 15.15
Prem/(Disc):   (8.46%)

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: www.newirelandfund.com