Offer Update

Irish Continental Group PLC
13 June 2007



13 June 2007
                                        
                                        
Irish Continental Group plc ('ICG' or the 'Company')
                                        
                                        
Offer Update Announcement
                                        

On 1 June 2007, the Irish Takeover Panel (the 'Panel') ruled that, except with
the consent of the Panel, the Consortium must by 5.00 p.m. on 13 June 2007
either announce an offer for ICG under Rule 2.5 of the Takeover Rules or
announce that it will not proceed with an offer for ICG.


The Independent Directors acknowledge the significant progress made by the
Consortium since 1 June 2007 and that it is for reasons beyond the control of
the Consortium that the Consortium may not be in a position to make an
announcement of an offer for ICG under Rule 2.5 of the Takeover Rules in advance
of the current deadline. Accordingly the Independent Directors have requested
that the deadline imposed by the Panel be extended until 5.00 p.m. on 15 June
2007. The Panel has consented to this request.


The Independent Directors and the Company's advisers will continue to work
diligently with the Consortium and its advisers in an effort to bring forward an
offer from the Consortium under Rule 2.5 of the Takeover Rules to ICG
Shareholders as soon as practicable and in any event by no later than 5.00 p.m.
on 15 June 2007.


Shareholders should note that until a firm intention to make an offer is
announced under Rule 2.5 of the Takeover Rules (and subject to Rule 2.7 of the
Takeover Rules), there continues to be no guarantee that an offer will be
forthcoming. A further announcement will be made in due course.



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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