Offer Update Announcement

Irish Continental Group PLC
17 August 2007



                                 17 August 2007

              Irish Continental Group plc ('ICG' or the 'Company')

                           Offer Update Announcement



The Independent Directors announced on 3 August 2007 that having consulted with
the Panel, it was their intention that, in the absence of any further material
development, they would, by no later than 5.00 p.m. on 17 August 2007, terminate
discussions with both Moonduster and Aella and withdraw from each offer and in
the event that the Independent Directors took this action the current offer
period would be brought to an end and that an announcement would be made by no
later than 6.00pm today, 17 August 2007.


The Independent Directors wish to announce that they have deferred now any
further announcement pursuant to the announcement of 3 August 2007 until Monday
20 August.



Enquiries

Irish Continental Group plc Telephone [phone]
Independent Directors
John B McGuckian


NCB Corporate Finance Telephone [phone]

Liam Booth
Jonathan Simmons
Shane Lawlor


Drury Communications Telephone [phone]
Billy Murphy
Paddy Hughes


The Independent Directors of Irish Continental Group plc accept responsibility
for the information contained in this announcement. To the best of their
knowledge and belief (having taken all reasonable care to ensure that such is
the case), the information contained in this announcement for which they take
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.


NCB Corporate Finance Limited, which is authorised in Ireland by the Financial
Regulator under the Investment Intermediaries Act 1995, is acting exclusively
for Irish Continental Group plc and no one else in connection with the
acquisition and will not be responsible to anyone other than Irish Continental
Group plc for providing the protections afforded to clients of NCB Corporate
Finance Limited nor for providing advice in relation to the acquisition.




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