Tremont Master Strategies Trust
21 May 2007

STOCK EXCHANGE ANNOUNCEMENT



18 May, 2007



Tremont Master Strategies Trust (the 'Trust')





Re: Redesignation & cancellation of listing



The Directors of the Manager of the above Trust wish to announce that they have
applied to the Irish Stock Exchange to delist the Strategy Investor A1 EUR -
Master Series of Tremont Japan Fund and Strategy Investor A1 EUR - Master Series
of Tremont Trading Fund (the 'Shares') as these Shares were designated
incorrectly.



Application has been made for the Shares to be removed from the Official List of
the Irish Stock Exchange and the Irish Stock Exchange has agreed that the Shares
will be delisted with effect from 22 May 2007.



The Directors of the Manager of the above Trust also wish to announce that the
following series of shares have been redesignated as follows:


From:                                                 To:
Tremont Emerging Markets Fund - Strategy Investor A1  Tremont Emerging Markets Fund - Strategy Investor A1
EUR - 02-APR-07 Series                                EUR Class Series 02-APR-07
Tremont Emerging Markets Fund - Strategy Investor A2  Tremont Emerging Markets Fund - Strategy Investor
USD - 02-APR-07 Series                                Distributor A2 USD Class Series 02-APR-07







Enquiries to;


BISYS Hedge Fund Services (Ireland) Limited       Catherine Griffin                          +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






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