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Wednesday 01 August, 2007

Tremont MasterStrat

Controlling Unitholder

Tremont Master Strategies Trust
01 August 2007

STOCK EXCHANGE ANNOUNCEMENT



For Immediate Release
                            1 August, 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 30
June, 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 51.9483% of the issued share capital of the
Fund.





Enquiries


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

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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