Offer Update

Irish Continental Group PLC
11 April 2007


                                 11 April 2007

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

                           Offer Update Announcement


On 4 April 2007 a consortium comprising Doyle Group Limited and One Fifty One
plc (the 'Consortium') made an announcement that the Consortium members were in
discussions regarding a possible offer from the Consortium for the entire issued
and to be issued share capital of the Company at a price of not less than €20.00
per ICG Unit (the 'Possible Offer). The Consortium's announcement indicated that
the Possible Offer was subject to the completion of confirmatory due diligence
as well as certain other conditions including the recommendation of the
Independent Directors of ICG.


On 5 April 2007 the Independent Directors announced that initial discussions had
been held with the Consortium regarding the Possible Offer and that the
Independent Directors would further update shareholders on progress in due
course.


Notwithstanding the Consortium's announcement on 4 April 2007, the significant
discussions between the Consortium and the Independent Directors since then and
the Consortium's disclosure of its further market purchases since 4 April 2007,
the Consortium has not yet entered into a formal process with the Company and
its advisers and, as such, has not yet commenced its confirmatory due diligence.
Until a formal process is actually entered into the Independent Directors cannot
establish a definitive timeframe for the determination of the Consortium's
Possible Offer. The Independent Directors continue to be available to engage
with the Consortium.


Consequently, the offer from Aella plc remains the only offer received by the
Independent Directors and in order to ensure that this offer remains available
to shareholders, at the extraordinary general meeting to be held tomorrow, 12
April 2007, at The Berkeley Court Hotel commencing at 3.45 p.m. the Independent
Directors will propose a resolution to adjourn the extraordinary general
meeting. In addition, pursuant to an application from the Company earlier today,
the Court has ordered an adjournment of the two court meetings due to be held at
3.15 p.m. and 3.30 p.m. tomorrow.



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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange