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Monday 09 July, 2007

Tremont MasterStrat

Controlling Unitholder

Tremont Master Strategies Trust
09 July 2007


For Immediate Release

9 July, 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 31
May, 2007, Charles Frederic & Co for Eternity Fund (For Qualified Institutional
Investors Only) held an interest of 1,650,000 units in the Strategy Investor C1
JPY Class in the Fund, representing 34.723% of the issued share capital of the


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

J&E Davy                                             Eoin Mackessy                           +353 1 614 8933

This announcement has been issued through the Companies Announcement Service of

                            The Irish Stock Exchange

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