Statement re Charter Renewal

Irish Continental Group Plc ("ICG ") notes the announcement by ferry
operator, Interislander Line ( a division of  the New Zealand rail
company, Kiwi Rail ) that it has decided to exercise its option to
renew the charter of the Cook Strait ferry Kaitaki ( formerly "Isle
of Innisfree" ) for a further three years from July 2010, when the
current charter expires, up to June 2013.  This is the final option
period.  The 1995 built vessel has been chartered by ICG to P&O
European Ferries Ltd ("P&O") since 2002.  The ship was subchartered
by P&O, ultimately, to Interislander Line in 2005 for service on the
route Wellington - Picton.  The vessel is the largest passenger ferry
in New Zealand and has a capacity for 1,650 passengers and 600 cars
or 108 trucks.  She was built in Rotterdam in 1995 for ICG's ferry
operator Irish Ferries for the Dublin to Holyhead route and later the
Rosslare to Pembroke route.

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