Trading Statement

Irish Continental Group PLC
30 April 2004

                            IRISH CONTINENTAL GROUP



     Chairman's Statement on Current Trading to the Annual General Meeting

Trading in the first quarter of 2004 has been broadly in line with our
expectations.

In the tourism / passenger market, conditions are competitive and in the 16
weeks to date our car carryings are down approximately 12% on the same period in
2003, against a background of an overall market decline of 7%. Our carryings
reflect the impact of our industrial dispute during the period. The effect of
this has, however, been partially mitigated by cost savings and higher yields,
notwithstanding the special offers being made to the marketplace by all
operators.

In the Roll On Roll Off freight market our carryings to date are up
approximately 4% in line with overall market growth. Overall therefore, trading
in Irish Ferries is broadly in line with the previous year.

Within the Container and Terminal Division conditions remain competitive.

With regard to our proposals to bring our labour more into line with industry
norms, I am happy to report that substantial progress has been achieved in our
discussions to date with our unions.

In summary therefore, your group is trading successfully in what continues to be
a competitive environment. As is normal, the key trading period is the summer
period when the bulk of our tourism earnings are generated, and we look forward
to the coming summer season with confidence.

Thomas C. Toner

Chairman

30 April 2004


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