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Friday 30 March, 2007

Tremont MasterStrat

Controlling Unitholder

Tremont Master Strategies Trust
30 March 2007

STOCK EXCHANGE ANNOUNCEMENT



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.





Enquiries


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

J&E Davy                                              Aoife Colgan                           +353 1 614 8933















This announcement has been issued through the Companies Announcement Service of

                           the Irish Stock Exchange.






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