PRESS RELEASE

11/03/2000

The Irish Investment Fund, Inc. Declares Annual Distribution

The Irish Investment Fund, Inc.Declares Annual Distribution 11-03-00 The Board of Directors of The Irish Investment Fund, Inc. (the "Fund") has declared an annual distribution in the amount of $2.66 per share which consists of $2.25 attributable to long-term capital gains and $0.41 attributable to short-term capital gains. The distribution is payable in Fund shares to each stockholder unless a stockholder elects to receive cash. The distribution will be payable on December 29, 2000 to stockholders of record on November 13, 2000. Distribution shares will be valued at the lower of the net asset value or market price of the Fund's shares at the close of business on December 15, 2000.