EUR 45 Million Vessel Acquisition

Irish Continental Group Plc acquires passenger ro-ro cruise ferry for
Ireland / France Route

Irish Continental Group plc ( ICG )  is pleased to announce that its
ferry division  Irish Ferries has entered  into an agreement for the
purchase of the  passenger ro -ro cruise  ferry  "Kronprins Harald
"   from its current owners and operators , Color Line of Norway,
for an investment  , including modification  and delivery costs , of
Euro 45 million. The vessel is being purchased for use on Irish
Ferries route  between Rosslare in Ireland and Cherbourg and Roscoff
in France.    With its current vessel " Normandy " Irish Ferries
carries approximately 50,000 cars ,170,000 passengers and 2500
Freight Units on approximately 270  annual sailings  on this
route. The  Kronprins Harald , which was built in in Finland  in
1987, has a gross tonnage of 31914 tons,  and  can carry  a total of
1458 passengers in 468 cabins as well as  580 cars or 1220  lane
metres of freight.  It will offer additional  passenger and freight
capacity and substantially higher  levels of comfort compared with
the current vessel on the route.

Under the terms of the  purchase agreement  title to the vessel will
pass to ICG in early February 2007  and the purchase consideration
will be paid in cash on completion. The vessel will then be chartered
back to Color Line  for service on the Oslo to Kiel route until the
autumn of 2007. The vessel will then enter Irish Ferries service  at
which time the current vessel ( Normandy ) will be sold or chartered.


The acquisition of the Kronprins Harald follows the announcement  by
ICG ( 15 January 2007 ) that P&O has exercised its option to extend
the charter of the MV Pride of Bilbao  from October 2007 to October
2010.


22 January 2007