The New Ireland Fund, Inc. Monthly Portfolio Update

| Source: The New Ireland Fund, Inc. The New Ireland Fund, Inc.

BOSTON, MA--(Marketwire - Jun 1, 2012) - The New Ireland Fund, Inc. (NYSE: IRL) today released an updated Monthly portfolio statement as of May 31, 2012

Security Name Shareholding US $ Market Value % of Market Value
AER LINGUS 526,014 602,258.70 1.18 %
ARYZTA AG 80,820 3,751,352.86 7.37 %
C&C GROUP PLC 269,779 1,144,134.45 2.25 %
CONTINENTAL FARMER GROUP PLC 765,697 255,620.40 0.50 %
CPL RESOURCES PLC 504,153 1,732,933.72 3.41 %
CRH PLC 340,350 5,723,207.15 11.25 %
DCC PLC 40,541 952,407.61 1.87 %
DRAGON OIL PLC 266,104 2,056,393.50 4.04 %
ELAN CORP PLC 170,619 2,381,841.24 4.68 %
FBD HOLDINGS PLC 64,014 641,113.30 1.26 %
GLANBIA PLC 135,184 974,470.39 1.92 %
GRAFTON GROUP PLC 121,708 415,640.26 0.82 %
ICON PLC 25,173 540,464.31 1.06 %
IFG GROUP PLC 630,393 1,013,280.15 1.99 %
IRISH CONTINENTAL GROUP PLC 102,730 2,032,319.91 3.99 %
KENMARE RESOURCES PLC 1,941,815 1,361,337.20 2.68 %
KERRY GROUP PLC 135,691 5,856,167.47 11.51 %
KINGSPAN GROUP PLC 212,741 1,811,047.93 3.56 %
ORIGIN ENTERPRISES PLC 456,287 1,946,399.54 3.83 %
PADDY POWER PLC 38,643 2,484,557.09 4.88 %
RYANAIR HOLDINGS PLC ADR 25,434 780,823.80 1.53 %
RYANAIR HOLDINGS PLC 937,342 4,693,835.90 9.23 %
SAP AG 27,144 1,557,279.72 3.06 %
SCHNEIDER ELECTRIC SA 17,000 905,312.66 1.78 %
SMURFIT KAPPA GROUP PLC 185,615 1,168,168.93 2.30 %
TOTAL PRODUCE PLC 552,258 308,642.16 0.61 %
TOTAL SA 20,157 866,448.86 1.70 %
TVC HOLDINGS PLC 815,973 857,569.87 1.69 %
UNITED DRUG PLC 370,124 1,006,803.53 1.98 %

The holdings are subject to change at any point in time hereafter.

Investment Objective: The New Ireland Fund, Inc., (NYSE: 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 Kleinwort Benson Investors International Ltd., a wholly owned subsidiary of Kleinwort Benson Investors Dublin Ltd.

Contact Information:

For further information, please contact
The New Ireland Fund, Inc.
(800) 468-6475
Website: www.newirelandfund.com