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STOCK EXCHANGE ANNOUNCEMENT

Statement in Response to Analysts' Queries

In response to a number of queries ICG wishes to issue the following statement.

In 1989, B&I (a company subsequently acquired by ICG in 1992), had an incident involving a temporarily chartered in vessel (m.v. Norrona). Arising from the manner in which the ship was repaired, a small number of crew members were successful in a claim for exposure to asbestos, the cost of which was borne by B&I insurers.

Arising from this case, a number of other claims have been made by other crew, who worked on other ships in the fleet. None of these claims have been substantiated or have proceeded to court.

In ICG's view these claims, all of which are insured, have no material impact on the financial position of the company.

None of ICG's fleet of six ferries has asbestos.

Enquiries: Eamonn Rothwell Tel: 353-1-6075628
Garry O'Dea Tel: 353-1-6075628
Email: info@icg.ie