PRESS RELEASE

11/27/2007

The New Ireland Fund, Inc. Announces Appointment Of A New Director

Boston, Massachusetts, November 27, 2007: - The Board of Directors of The New Ireland Fund, Inc. is pleased to announce the appointment of Michael J. Grealy as President and Director of the Fund. Mr. Grealy, a resident of New York, is Chief Executive - Alternative Investments and Global Distribution at Bank of Ireland Capital Markets and is responsible for Bank of Ireland Asset Management's International business. Mr. Grealy is also Chairman of Guggenheim Advisors, LLC and Iridian Asset Management LLC. Mr. Donohoe, President of Bank of Ireland Asset Management (U.S.) Limited, recently resigned from the Board of the Fund as he will no longer be resident in the United States.

Prior to his movement to the U.S., Mr. Grealy was Head of Human Resources at Bank of Ireland Group and was also a member of the Group's Executive Committee. Prior to this, he worked with a number of companies in Ireland, France and the U.S.

The New Ireland Fund, Inc is a closed-end diversified investment company that seeks long-term capital appreciation through investing at least 80% of its assets in a portfolio of Irish securities. The Fund is managed by Bank of Ireland Asset Management (U. S.) Limited and is listed on the New York Stock Exchange under the ticker symbol - IRL.

For further information, please contact the Fund at (800) 468-6475 or at its' website at www.newirelandfund.com.