The New Ireland Fund, Inc. -- Managed Distribution Policy

BOSTON, MA--(Marketwired - Feb 20, 2015) - The New Ireland Fund, Inc. (NYSE: IRL) (the "Fund"), a closed-end management investment company, wishes to clarify the terms of its current Managed Distribution Policy to avoid confusion in the marketplace.

Under the Fund's Managed Distribution Policy, the Fund will pay quarterly distributions at an annual rate, set once a year, that is a percentage of the Fund's net asset value at its most recent fiscal year end. In December 2014, the Fund's Board of Directors approved the annual rate at 8% for the Fund's 2015 fiscal year.

The distributions paid pursuant to the Managed Distribution Policy are paid from net investment income, net realized capital gains and, to any extent necessary, paid-in capital.

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

The amounts and sources of distributions for tax reporting purposes will depend on the Fund's investment experience during its fiscal year and may be subject to change based on tax regulations. The Fund is subject to U.S. corporate, tax and securities laws. Under U.S. tax accounting rules, the amount of distributable income for each fiscal year depends on the dividend and interest income received, the actual exchange rates during the entire year between the U.S. dollar and the currencies in which Fund assets are denominated, and on the aggregate gains and losses realized by the Fund during the entire year. Therefore, the exact amount of distributable income for each fiscal year can only be determined as of the end of the Fund's fiscal year, October 31. However, under the U.S. Investment Company Act of 1940, the Fund is required to estimate and disclose the source of each distribution to shareholders. This estimated distribution composition may vary from quarter to quarter because it may be materially impacted by future realized gains and losses on securities and fluctuations in the value of the currencies in which Fund assets are denominated. You will be sent a Form 1099-DIV for the calendar year that will tell you how to report distributions for federal income tax purposes.

The New Ireland Fund, Inc. is a closed-end management investment company that seeks long-term capital appreciation through investing at least 80% of its total assets in a portfolio of Irish securities.

The Fund is managed by Kleinwort Benson Investors International Ltd., a wholly owned subsidiary of Kleinwort Benson Investors Dublin Ltd., 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 investor.query@newirelandfund.com
Website: www.newirelandfund.com