Director/PDMR Shareholding

SCHEDULE 11
    Notification of Transactions of Directors/Persons Discharging
           Managerial Responsibility and Connected Persons

This form is intended for use by an issuer to make a RIS notification
required by the  Market Abuse Rules  and section 53  (as extended  by
section 64 of the  Companies Act 1990) or  entered into the  issuer's
register in accordance with section 59 of the Companies Act 1990.

(1)      An issuer making a notification in respect of a  transaction
relating to the shares  or debentures of  the issuer should  complete
boxes 1 to 16, 23 and 24.

(2)      An issuer  making a notification in respect of a  derivative
relating to the shares of the issuer should complete boxes 1 to 4, 6,
8, 13, 14, 16, 23 and 24.

(3)         An issuer  making a  notification in  respect of  options
granted to a director/person discharging managerial  responsibilities
should complete boxes 1 to 3 and 17 to 24.

(4)       An issuer making a  notification in respect of a  financial
instrument relating  to  the  shares  of the  issuer  (other  than  a
debenture) should complete the boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16,
23 and 24.


All relevant boxes should be completed in block capital letters


+-------------------------------------------------------------------+
| 1  | Name of the Issuer         | 2  | State     whether      the |
|    |                            |    | notification relates to:   |
|    |                            |    | (i)        a   transaction |
|    |                            |    | notified   in   accordance |
|    | Irish Continental Group    |    | with Market Abuse Rules;   |
|    |                            |    |                            |
|    |                            |    | (ii)    a disclosure  made |
|    |                            |    | in accordance with section |
|    |                            |    | 53 (as extended by section |
|    |                            |    | 64 of  the  Companies  Act |
|    |                            |    | 1990) or entered into  the |
|    |                            |    | issuer's    register    in |
|    |                            |    | accordance with section 59 |
|    |                            |    | of the Companies Act 1990; |
|    |                            |    | or                         |
|    |                            |    | (iii) both (i) and (ii).   |
|    |                            |    |        (iii) both          |
|    |                            |    |                            |
|----+----------------------------+----+----------------------------|
| 3  | Name of person discharging | 4  | State whether notification |
|    | managerial                 |    | relates   to   a    person |
|    | responsibilities/director  |    | connected  with  a  person |
|    |                            |    | discharging     managerial |
|    |                            |    | responsibilities/director  |
|    | Mr. Gearoid O'Dea          |    | named in  3  and  identify |
|    |                            |    | the connected person       |
|    |                            |    |                            |
|    |                            |    | Not Applicable             |
|----+----------------------------+----+----------------------------|
| 5  | Indicate    whether    the | 6  | Description of shares      |
|    | notification is in respect |    | (including class)          |
|    | of a holding of the person |    | debentures or derivatives  |
|    | referred  to  in  3  or  4 |    | or financial instruments   |
|    | above or in  respect of  a |    | relating to shares         |
|    | non-beneficial interest    |    |                            |
|    | Not Applicable             |    | ICG Unit                   |
|    |                            |    |                            |
|----+----------------------------+----+----------------------------|
| 7  | Name     of     registered | 8  | State the nature of the    |
|    | shareholder(s)   and,   if |    | transaction                |
|    | more than  one, number  of |    |                            |
|    | shares  held  by  each  of |    | (i)                        |
|    | them                       |    | Exercise of share options  |
|    |                            |    | (ii)                Sale   |
|    | Mr. Gearoid O'Dea          |    | of shares                  |
|    |                            |    |                            |
|----+----------------------------+----+----------------------------|
| 9  | Number     of      shares, | 10 | Percentage of issued class |
|    | debentures  or   financial |    | acquired (treasury  shares |
|    | instruments  relating   to |    | of that  class should  not |
|    | shares acquired            |    | be taken into account when |
|    | 18,700                     |    | calculating  percentage)   |
|    |                            |    | 0.08%                      |
|----+----------------------------+----+----------------------------|
| 11 | Number     of      shares, | 12 | Percentage of issued class |
|    | debentures  or   financial |    | disposed (treasury  shares |
|    | instruments  relating   to |    | of that  class should  not |
|    | shares disposed            |    | be taken into account when |
|    |                            |    | calculating  percentage)   |
|    | 18,700                     |    | 0.08%                      |
|    |                            |    |                            |
|----+----------------------------+----+----------------------------|
| 13 | Price per share or value   | 14 | Date and place of          |
|    | of transaction             |    | transaction                |
|    | (i)                  ¤7.35 |    | (i)                  11    |
|    | / unit                     |    | May 2006                   |
|    | (ii)                       |    | (ii)                11 &   |
|    | ¤11.415 / unit             |    | 12 May 2006                |
|    |                            |    |                            |
|----+----------------------------+----+----------------------------|
| 15 | Total  holding   following | 16 | Date issuer informed of    |
|    | notification   and   total |    | transaction                |
|    | percentage         holding |    |                     12 May |
|    | following     notification |    | 2006                       |
|    | (any    treasury    shares |    |                            |
|    | should not  be taken  into |    |                            |
|    | account  when  calculating |    |                            |
|    | percentage)                |    |                            |
|    |                            |    |                            |
|    | 179,377   / .73%           |    |                            |
|    |                            |    |                            |
+-------------------------------------------------------------------+


If a person discharging managerial responsibilities has been granted
options by the issuer, complete the following boxes:


+-------------------------------------------------------------------+
| 17 | Date of grant                | 18 | Period during  which  or |
|    | Not Applicable               |    | date on which it can  be |
|    |                              |    | exercised                |
|    |                              |    | Not Applicable           |
|    |                              |    |                          |
|----+------------------------------+----+--------------------------|
| 19 | Total amount paid (if any)   | 20 | Description of shares or |
|    | for grant of the option      |    | debentures      involved |
|    | Not Applicable               |    | (class and number)       |
|    |                              |    | Not Applicable           |
|    |                              |    |                          |
|----+------------------------------+----+--------------------------|
| 21 | Exercise price (if fixed  at | 22 | Total number  of  shares |
|    | time of grant) or indication |    | or debentures over which |
|    | that  the  price  is  to  be |    | options     are     held |
|    | fixed   at   the   time   of |    | following notification   |
|    | exercise                     |    | 173,800                  |
|    | Not Applicable               |    |                          |
|    |                              |    |                          |
|----+------------------------------+----+--------------------------|
| 23 | Any additional information   | 24 | Name  of   contact   and |
|    |                              |    | telephone   number   for |
|    |                              |    | queries                  |
|    |                              |    |                          |
|    |                              |    | Mr.  Tom  Corcoran   Tel |
|    |                              |    | [phone]           |
+-------------------------------------------------------------------+





+-------------------------------------------------------------------+
| Name and signature of duly designated officer of issuer           |
| responsible for making notification                               |
| Tom Corcoran , Company Secretary                                  |
| Date of notification      12 May 2006                             |
+-------------------------------------------------------------------+




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