PRESS RELEASE

10/03/2000

THE IRISH INVESTMENT FUND, INC. APPOINTS NEW DIRECTOR

Business Editors

BOSTON - - (BUSINESS WIRE) -- Oct. 3, 2000 -- The Board of Directors of the Irish Investment Fund, Inc. are pleased to announce the appointment of James J. Boyle as a director of the Fund. Mr. Boyle is Chairman and President of Cardinal Resources, inc., an independent oil and gas producer. He is a director of Standard Microsystems Corporation (NASDAQ), and also serves on the boards of a number of nonprofit institutions.

The Fund is a closed end mutual fund managed by Bank of Ireland Asset Management (U.S.) Limited and is listed on the New York Stock Exchange.

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