Irish Continental Group plc : Holding(s) in Com...

1 March 2012

Pursuant to its obligations under the Transparency (Directive 2004/109/EC) Regulations 2007 ("The Regulations"), Irish Continental Group plc sets out below details of a notification received under The Regulations.

Tom Corcoran
Company Secretary

Standard Form TR-1
Voting rights attached to shares- Article 12(1) of directive 2004/109/EC
Financial instruments - Article 11(3) of the Commission Directive 2007/14/EC

1.        Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: IRISH CONTINENTAL GROUP PLC
2.   Reason for the notification (please tick the appropriate box or boxes):

[X]   an acquisition or disposal of voting rights

[ ]   an acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

[ ]   an event changing the breakdown of voting rights

3.   Full name of person(s) subject to the notification obligation:
  Marathon Asset Management LLP
4.   Full name of shareholder(s) (if different from 3.):
  See attached breakdown

5.   Date of the transaction and date on which the threshold is crossed or reached:
  29 February 2012

6.   Date on which issuer notified; 1 March 2012

7.   Threshold(s) that is/are crossed or reached: 7%

8.   Notified details:

A) Voting rights attached to shares
Class/type of shares (if possible using the ISIN CODE)	Situation previous to the Triggering transaction			Resulting situation after the triggering transaction
	Number of Shares	Number of Voting rights		Number of shares	Number of voting rights			% of voting rights
				Direct	Direct		Indirect	Direct		Indirect
IE0033336516	1,704,649	1,394,100		1,741,989			1,431,440			5.756%
SUBTOTAL A (based on aggregate voting rights)	1,704,649	1,394,100		1,741,989	1,431,440			5.756%
B) Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration Date		Exercise/Conversion  Period/ Date			Number of voting rights that may be acquired if the instrument is exercised/converted			% of voting rights
			SUBTOTAL B (in relation to all expiration dates)

Total (A+B)	number of voting rights	% of voting rights
	1,431,440	5.756%

9.   Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

10.   In case of proxy voting: [name of the proxy holder] will cease to hold [number] voting rights as of [date].

11. Additional information:  

Done at Orion House, London on 1^st March 2012.

Annex to the standard form TR-1
a)   Identity of the person or legal entity subject to the notification obligation:

Full name (including legal form for legal entities)	Marathon Asset Management LLP
Contact address (registered office for legal entities)	Orion House, 5 Upper St. Martins Lane, London , WC2H 9EA
Phone number	0044 (0)20 7497 2211
Other useful information (at least legal representative for legal persons)	Simon Davies

b)   Identity of the notifier, if applicable:

Full name	Simon Davies
Contact address	As Above
Phone number	As Above
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)	Chief Compliance Officer

c)   Additional information

Custodian	Holding
Bank of New York	23,243
BNP Paribas Securities Services	2,423
BNP Paribas Securities Services, UK	11,192
Brown Brothers Harriman	28,622
Citibank	11,997
Danske Bank	17,395
JP Morgan Chase	108,533
Mellon Bank	334,425
National Australia Bank Limited	10,825
Northern Trust	627,517
RBC Dexia	4,534
State Street Bank and Trust Company, Boston	404,470
MEHF	156,813
	1,741,989

---

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Irish Continental Group plc via Thomson Reuters ONE

HUG#1590730