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PRESS
RELEASE
11/15/2002
The
New Ireland Fund Quarterly Portfolio Update
NEW
YORK - November 15, 2002 - The New Ireland
Fund, Inc. today released its Quarterly portfolio update as of October
31,2002.
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 October 31, 2002 |
% of
Fund |
| Financial |
18.7% |
| Food &
Beverages |
17.6% |
| Construction
and Building Materials |
14.1% |
| Health
Care Services |
8.4% |
| Transportation |
7.6% |
| Leisure
and Hotels |
7.6% |
| Computer
Software and Services |
5.9% |
| Business
Services |
4.3% |
| Top
10 Holdings as of October 31, 2002 |
Sector |
% of
Fund |
| Allied
Irish Banks |
Financial |
16.1% |
| Kerry Group,
Series A |
Food &
Beverage |
14.8% |
| CRH |
Construction
and Building Materials |
11.5% |
| Ryanair
Holdings |
Transportation |
7.6% |
| Jury's
Doyle Hotel Group |
Leisure
and Hotels |
5.5% |
| United
Drug |
Health
Care Services |
4.7% |
| Spectel |
Computer
Software & Services |
4.4% |
| DCC |
Business
Services |
4.3% |
| Galen Holdings |
Pharmaceuticals |
4.0% |
| ICON- ADR |
Health
Care Services |
3.7% |
| Total Net
Assets: |
US$54.9m |
| Net Asset
Value: |
$11.04 |
| Market
Price: |
$8.67 |
| Prem/Disc: |
(21.5%) |
The
New Ireland Fund is managed by Bank of Ireland Asset Management
(U.S.) Limited, an indirect wholly owned subsidiary of Bank of Ireland
Group.
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