The New Ireland Fund, Inc. Announces Payment of Quarterly Distribution

BOSTON, MA--(Marketwired - Dec 26, 2014) - The New Ireland Fund, Inc. (NYSE: IRL) (the "Fund"), a closed-end fund, today announced that it paid on December 26, 2014, a distribution of US$0.28343 per share to all shareholders of record as of December 19, 2014.

Your Fund's distribution policy (the "Distribution Policy") is to provide investors with a stable quarterly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital.

Under U.S. tax rules applicable to the Fund, the amount and character of distributable income for each fiscal year can be finally determined only as of the end of the Fund's fiscal year. However, under Section 19 of the Investment Company Act of 1940, as amended (the "1940 Act") and related Rules, the Fund may be required to indicate to shareholders the source of certain distributions to shareholders.

The following table sets forth the estimated amounts of the sources of the distribution for purposes of Section 19 of the 1940 Act and the Rules adopted thereunder. The table has been computed based on generally accepted accounting principles. The table includes estimated amounts and percentages for the distribution to be paid on December 26, 2014, as well as the estimated cumulative distributions declared fiscal year to date (11/1/2014 - 11/30/2014), from the following sources: net investment income; net realized short-term capital gains; net realized long-term capital gains; and return of capital. The estimated composition of the distributions may vary from quarter to quarter because the estimated composition may be impacted by future income, expenses and realized gains and losses on securities.

		Estimated Amounts of Current Quarterly Distribution per share ($)		Estimated Amounts of Current Quarterly Distribution per share (%)		Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share ($)		Estimated Amounts of Fiscal Year to Date Cumulative Distributions per share (%)
Net Investment Income		--		--		--		--
Net Realized Short- Term Capital Gains *		--		--		--		--
Net Realized Long-Term Capital Gains		$0.28343		100%		$0.28343		100%
Return of Capital		--		--		--		--
Total (per common share)		$0.28343		100%		$0.28343		100%

*including currency gains

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Distribution Policy, which is to provide investors with a stable quarterly distribution.