Irish Continental Group plc

2008 Interim Results Presentation

ICG Profile

1. Irish Ferries• Leading ferry company operating between UK/

Continent and Republic of Ireland

2. Ship Chartering Division• 2 vessels on long-term charter

3. Container Division• Container stevedoring terminals in Dublin &

Belfast• Leading container operator between Ireland and

the Continent

59%

15%

26%

CapitalEmployed

ICG – Group Results

* Including €3.8m profit on sale of Normandy** Before non-trading items and net expected return on defined benefit pension assets less liabilities*** Before non-trading items

H1 2008 H1 2007 Change FY 2007

Turnover €166.1m €163.2m +2% €355.8m

EBITDA €29.5m €32.6m -10% €80.2m

Profit From Operations* €17.3m €16.4m +5% €50.1m

Non Trading Items - €(16.5)m €(10.1)m

Adjusted EPS** 58.9c 50.8c +16% 178.6c

Underlying EPS*** 67.1c 63.1c +6% 203.3c

Basic EPS 67.1c (6.8)c 160.9c

Redemption per Unit 100c - -

Equity €177.6m €175.9m +1% €212.3m

Net Debt €70.3m €121.2m -42% €84.5m

Redemption• No redemptions during 2007 due to offers for Company• Redemption of 100 cent paid in April 2008• Base going forward of 75 cent per share

ICG Cash FlowH1 2008 H1 2007 FY 2007

€m

EBITDA* 25.7 32.6 80.2

Working Capital Movement 5.2 14.7 4.8

Operating Cash Flow 30.9 47.3 85.0

Interest (1.9) (3.8) (5.2)

Tax (0.1) (0.2) (1.0)

Capex/Disposals 6.1 (51.3) (58.3)

Share Issue (0.7) 1.0 8.1

Dividends/Redemptions (24.5) ___-__ __-_

Net Flows 9.8 (7.0) 28.6

Opening Debt (84.5) (113.8) (113.8)

Translation/Other 4.4 (0.4) 0.7

Closing Debt (70.3) (121.2) (84.5)

* Excludes profit on sale of MV Normandy

ICG Fuel CostsH1 2008 H1 2007 FY 2007

Consumption (000 tons)

Heavy Fuel Oil 52.6 48.8 101.5

Marine Diesel 7.5 7.0 15.3

60.1 55.8 116.8

Price (€ per ton)

Heavy Fuel Oil €368 €234 €279

Marine Diesel €656 €427 €465

Total Cost (inc. lubs) €24.9m €15.2m €36.1m

% of Operating Costs 16.7% 10.4% 11.8%

Ferries Division

Irish Ferries • 4100 sailings - UK• 300 sailings - France

Ship Chartering

• 2 Ferries on charter to P&O firm to 2010• P&O hold options to 2013

Ferries Division

H1 2008 H1 2007

Change 2007 €m

Turnover 83.9 85.9 -2% 197.9

EBITDA 24.7* 27.2 -9% 68.0

Depreciation/Amortisation (10.8) (15.0) -28% (27.1)

Operating Profit 13.9* 12.2 +14% 40.9

* Includes €3.8m profit on sale of MV Normandy

Irish Ferries Routes

16 Ships

13 Ports

17 Routes

Irish Ferries - Fleet

Challenger

Jonathan Swift

Ulysses

Jonathan Swift

GT 50,900 tons

PAX 1875

Cars 1342

Lane Metres 4.1km

Speed 22 knots

GT 6,000 tons

PAX 800

Cars 200

Speed 39 knots

Irish Ferries - Fleet

Challenger

Ulysses & Jonathan SwiftIsle of Inishmore

Oscar Wilde

GT 34,000 tons

PAX 2200

Cars 855

Lane Metres 2.1km

Speed 21.5 knots

GT 32,000 tons

PAX 1458

Beds 1376

Cars 580

Lane Metres 1.2km

Speed 21.5 knots

Passenger Market

H1 2008 1 Year2007

3 Year2004 - 2007

5 Year2002 - 2007

Irish Ferries -1% 12% -1% -2%

Republic of Ireland -1% 2% -3% -3%

All Ireland -2% 3% -3% -3%

CAGR

Cars Market

H 1 2008 1 Year2007

3 Year2004 - 2007

5 Year2002 - 2007

Irish Ferries -2% 14% 2% 0%

Republic of Ireland -1% 4% -2% -2%

All Ireland -2% 5% -1% -1%

CAGR

Market Share - Cars

0100200300400500600700800900

1000

H1 2008 H1 2007 2007

Others

Irish Ferries51% 47%

000’sRepublic of Ireland – UK & France

50%

Distribution

Internet

Call Centres

Travel Trade

Ports

RoRo Market

H1 2008 1 Year2007

3 Year2004 - 2007

5 Year2002 - 2007

Irish Ferries -3% 11% 9% 7%

Republic of Ireland 0% 6% 6% 6%

All Ireland -2% 5% 4% 4%

CAGR

Market Share – Ro Ro

0100200300400500600700800900

1000

H1 2008 H1 2007 2007

Others

Irish Ferries29% 29%

000’sRepublic of Ireland – UK & France

28%

RoRo Capacity

2007 Units000’s

2008 Units000’s

Change

Central Corridor Est. F’cast

Heysham ( Seatruck / Norfolk ) 190 220 16%

Liverpool ( P&O / Seatruck / Norfolk ) 500 550 10%

Holyhead ( Irish Ferries / Stena) 820 820 0%

Southern Corridor

Pembroke / Fishguard / ( Irish Ferries / Stena ) 280 280 0%

1790 1870 4.5%

Central & Southern Corridors ( incl. Warrenpoint )

Increased capacity principally from Seatruck newbuildsCapacity expressed as 16.5 metre equivalent units

Irish Ferries Revenues2007

Freight 41%

Cars 40%

On Board Sales12%

Foot Passengers

5%Holidays 2%

Irish Ferries Costs2007

Port Charges 29%

Fuel 16%Payroll 15%

Repairs/Insurance 14%

Other 1%Sales & Marketing

6%Depreciation 7%

Cost of goods sold 12%

New Vessel

• Ireland / France routes 2008• Major quality upgrade – Cruise standard• Increased Freight capacity• €51 million investment including modifications

Oscar Wilde

Ship Chartering

Kaitaki

Pride of Bilbao

Challenger

Kronprins Harald

GT 37,500 tons

PAX 2500

Beds 2447

Cars 580

Lane Metres 1km

Speed 22 knots

GT 22,300 tons

PAX 1650

Beds 274

Cars 600

Lane Metres 1.7km

Speed 19 knots

Ship Chartering

Pride of Bilbao and Kaitaki on charter to 2010. P&O has options to renew to 2013

Container Division

H12008

H12007

Change 2007€m

Turnover 82.2 77.3 +7% 157.9

EBITDA 4.8 5.4 -11% 12.2

Depreciation/Amortisation (1.4) (1.2) +17% (3.0)

Operating Profit 3.4 4.2 -19% 9.2

Operations

Container Routes• Ireland / Continent - Door to Door plus Quay to Quay• UK / Continent - Quay to Quay container movement

Port Terminals• DFT Terminal in Dublin - €30m expansion, 2008 – 2009• BCT Terminal in Belfast - 2007 first full year

Container Routes

Container Routes

Container Terminals 1.5 Million Teu in 2007

• Dublin Ferryport Terminal (DFT) •150 year lease of 33 acres from 1972

• Direct access to new Port Tunnel

• 480 metres of berths – 300m at 9.5m depth and 180m at 11m depth

Container Terminals• Belfast Container Terminal (BCT) • 11.5 acre site

• 150m quay wall at 7.5m depth

Container Handling Irl.

Market Share 21% in 2007

1 Year 3 Year 5 Year

ICG 6% 7% 7%

All Ireland 6% 8% 8%

CAGR

Outlook

• Challenging trading environment

• First Half 2007 – Once-off benefits from competitor disruption

• Benefit from Oscar Wilde additional Freight capacity

• Additional DFT capacity at Dublin Port

• Higher Fuel Costs

• Need for higher prices to pay for fuel

• Frequency of fast ferry service under review

• Speculation on the future of Dublin Port?