BOSTON, March 31, 2023 (GLOBE NEWSWIRE) -- The New Ireland Fund, Inc. (NYSE:IRL) (the "Fund") completed its liquidation today consistent with its Plan of Liquidation previously approved by the Fund's stockholders on January 5, 2023. Accordingly, on March 31, 2023, the Fund returned to its stockholders as a liquidating distribution in cash the Fund's net asset value per share of $10.43. As previously announced, the Fund had fixed the close of business on February 28, 2023 as the date for determining the stockholders of the Fund entitled to receive liquidating distributions.

Stockholders may recognize gain or loss for U.S. tax purposes as a result of the Fund's liquidation. Stockholders should consult a professional tax advisor regarding their specific tax situation.

KBI Global Investors (North America) Ltd is a wholly owned subsidiary of KBI Global Investors Ltd. based in Dublin, Ireland. KBI Global Investors Ltd. is majority owned by Amundi Asset Management, Europe's largest asset manager by assets under management.

For further information, please contact the Fund at 1-800-468-6475 or investor.query@newirelandfund.com

Website: www.newirelandfund.com

The New Ireland Fund, Inc. Issues Liquidating Distribution