PRESS RELEASE

10/01/2006

The New Ireland Fund, Inc. Monthly Portfolio Update

Boston, October 1, 2006, (PR Newswire etc) - The New Ireland Fund, Inc. today released its Monthly portfolio update as of September 30, 2006.

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.

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