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Tuesday 27 February, 2007

Tremont MasterStrat

Cancellation of Listing

Tremont Master Strategies Trust
27 February 2007


For Immediate Release
                       27 February, 2007

                 Tremont Master Strategies Trust (the 'Trust')

                      Tremont Arbitrage Fund (the 'Fund')

                  Re: Cancellation of Listing of Master Series

The Directors of the Manager of the above Trust wish to announce that they have
applied to the Irish Stock Exchange to delist the master series, Strategy
Investor (Distributor) A2 USD Class (Sedol: 3430574) of the Fund.

Application has been made for the Strategy Investor (Distributor) A2 USD Class
(the 'Master Series') of the Fund to be removed from the Official List of the
Irish Stock Exchange and the Irish Stock Exchange has agreed that the Master
Series will be delisted with effect from 1 March 2007.

Enquiries to;

BISYS Hedge Fund Services (Ireland) Limited       Catherine Griffin                          +353 1 436 7200

J & E Davy                                        Jamie Burke                                +353 1 614 8933

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