Phillip Goldstein Submits a Shareholder Proposal to The New Ireland Fund

The New Ireland Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is long-term capital appreciation through investment primarily in equity securities of Irish companies. Under normal circumstances, the Fund invests approximately 80% of its total assets in Irish equity and fixed income securities. It focuses on investing approximately 65% of its total assets in equity securities of issuers organized under the laws of Ireland, including companies listed on the Irish Stock Exchange and companies not listed on any securities exchange, The Fund invests in various sectors, such as banks; construction materials; airlines; hotels, restaurants and leisure; building products; trading companies and distributors, containers and packaging, household durables and health care services. KBI Global Investors (North America) Ltd. is the investment advisor of the Fund.