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PRESS
RELEASE
08/23/2004
The
New Ireland Fund Quarterly Portfolio Update
Boston,
August 23, 2004 - The New Ireland Fund, Inc. today released
its Quarterly portfolio update as of July 31, 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 July 31, 2004 |
% of
Fund |
| Construction
and Building Materials |
21.37 |
| Financial |
20.03 |
| Food and
Beverages |
14.86 |
| Health
Care Services |
7.67 |
| Leisure
and Hotels |
7.23 |
| Business
Services |
5.06 |
| Transportation |
4.10 |
| Diversified
Financial Services |
3.99 |
| Food |
3.14 |
| Pharmaceuticals |
2.55 |
| Top
10 Holdings as of July 31, 2004 |
Sector |
% of
Fund |
| Allied
Irish Banks PLC |
Financial |
15.77 |
| CRH
PLC |
Construction
and Building Materials |
13.15 |
| Kerry
Group PLC, Series A |
Food
and Beverages |
12.32 |
| DCC
PLC |
Business
Services |
5.06 |
| United
Drug PLC |
Health
Care Services |
4.59 |
| Kingspan
Group PLC |
Construction
and Building Materials |
4.54 |
| Jury's
Doyle Hotel Group PLC |
Leisure
and Hotels |
4.41 |
| FBD
Holdings PLC |
Financial |
4.27 |
| Ryanair
Holdings PLC |
Transportation |
4.10 |
| Irish
Life & Permanent PLC |
Diversified
Financial Services |
3.99 |
| Total Net
Assets: |
US $85,940,575 |
| Net Asset
Value: |
$ 18.31 |
| Market
Price: |
$ 15.94 |
| Prem/(Disc): |
(12.94%) |
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:
newirelandfund.com
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