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W.P. Stewart & Co., Ltd. Management Appointments

20 September 2002

Hamilton, Bermuda: September 20 2002 - W.P. Stewart & Co., Ltd. (the "Company") today announced that Harry W. Segalas has been appointed Chairman and CEO of W.P. Stewart & Co., Inc. ("WPS & Co. Inc."), its New York based research and portfolio management subsidiary. WPS & Co. Inc. is registered with the U.S. Securities and Exchange Commission as an investment adviser. Harry previously served as Co-Chairman of WPS & Co., Inc. and its Director of Investments. He has been a member of the Company's U.S. equity team for over 10 years.

The Company also announced that Robert L. Rohn, who previously served as Co-Chairman of W.P. Stewart & Co., Inc. and as a member of the Company's Management Committee, has been appointed Chairman of the Management Committee of W.P. Stewart & Co., Ltd. Rob remains a senior member of the Company's U.S. equity team.

William P. Stewart, Chairman and Chief Executive Officer of W.P. Stewart & Co., Ltd., said: "These management appointments reflect our growth and development as a public company and the depth of our personnel. For many years both Harry and Rob have played significant roles in the development of our global organization. These moves strengthen and broaden our management structure as we go forward."