Irish Continental Group plc : Holding(s) in Company

5 January 2018

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

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Irish Continental Group
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 [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:
3. Details of person subject to the notification obligationiv :
Name: Marathon Asset Management LLP		City and country of registered office (if applicable): London, UK
4. Full name of shareholder(s) (if different from 3.)v: See attached breakdown
5. Date on which the threshold was crossed or reachedvi: 4 January 2018
6. Date on which issuer notified: 5 January 2018
7. Threshold(s) that is/are crossed or reached: 6%
8. Total positions of person(s) subject to the notification obligation:
	% of voting rights attached to shares (total of 9.A)		% of voting rights through financial instruments (total of 9.B.1 + 9.B.2)	Total of both in % (9.A + 9.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	5.88		0	5.88	189,994,390
Position of previous notification (if applicable)	6.98		0	6.98

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.^xiii

[X] Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv:

Name^xv

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

William Arah

Jeremy Hosking

Neil Ostrer

Marathon Asset Management LLP

5.88

0

5.88

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

12. Additional information^xvi:

Breakdown of Holdings:

Custodian	Nominal
Bank of New York Mellon	2,503,081
Brown Brothers Harriman	170,093
JP Morgan Chase	541,229
HSBC Plc	106,614
Northern Trust	6,286,375
Royal Bank of Canada	11,670
State Street Bank & Trust Company, Boston	3,426,327
Total	13,045,389

The provided breakdown of holdings refer to the total number of shares in Irish Continental Group managed by the portfolio managers of Marathon Asset Management LLP.  No portfolio manager controls directly a disclosable position.  The total includes 1,869,575 shares for which clients have retained the right to vote.

Done at London on 5^th January 2018.