Charter Renewal

Charter Renewal

Irish Continental Group plc, announces that P&O European Ferries  Ltd
('P&O') has exercised its  option to extend the  charter of the  1986
built cruise ferry "Pride of Bilbao"  from 15th October 2007 to  15th
October 2010.

P&O retains one  further option to  extend the charter  from 2010  to
2013.  P&O previously  exercised the option to  renew the 1995  built
"Kaitaki" also from 2007 to 2010.

The combined charter income from the two vessels on a full year basis
and at current exchange rates is 80% of the current rates.

End.

15 January 2007.

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