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Friday 30 March, 2007

Tremont MasterStrat

Controlling Unitholder

Tremont Master Strategies Trust
30 March 2007


For Immediate Release
                            30 March 2007

Tremont Master Strategies Trust (the 'Trust')

                      Tremont Arbitrage Fund (the 'Fund')

                           Re: Controlling Unitholder

The Directors of the Manager of the above Trust wish to announce as at the 28
February 2007, Charles, Frederic & Co. held an interest of 1,650,000 units in
the Strategy Investor C1 JPY Class in the Fund, representing 35.86% of the
issued share capital of the Fund.


BISYS Hedge Fund Services (Ireland)                    Conor Moore                           +353 1 436 7200

J&E Davy                                              Aoife Colgan                           +353 1 614 8933

This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                

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