BOSTON, MA -- (Marketwire) -- 06/01/12 -- The New Ireland Fund, Inc. (IRL) today released an updated Monthly portfolio statement as of May 31, 2012

                                                               % of Market
Security Name                  Shareholding  US $ Market Value    Value
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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.