rejection from Ryanair

hi all
wonder if someone can give me some advice - i used the template from mse to claim for a flight that was delayed in May 2006. i believe the claim is valid (flight from UK to Ireland, delayed over 8 hours, not sure of the reason but wasn't weather and another flight for the same destination scheduled after ours left on time) however, Ryanair have replied with the following:

When making a booking on Ryanair.com it is necessary for you to read and accept Ryanair's General Terms and Conditions of Carriage. Please may I refer you to Article 15 which clearly confirms claims for cancelled or delayed flights must be brought within two years of the booked date of travel (see below). Furthermore, this clause is in line with Article 35 of the Montreal Convention 1999, applicable to all passenger carriage by air.

15.2 LIMITATION OF ACTIONS

Any right to damages shall be extinguished if an action is not brought within two years of the date of arrival at destination, or the date on which the aircraft was scheduled to arrive, or the date on which the carriage stopped. The method of calculating the period of limitation shall be determined by the law of the court where the case is heard.

Given that your claim is outside the permitted 2 years as per the above, we are not in a position to accept your claim.

Does anyone know whether this is right in this regard? or advise what i can do next?

Thanks.