W.P. Stewart & Co., Ltd. Holds Annual General Meeting of Shareholders and a Meeting of the Boar

Ltd. (NYSE: WPL; BDA:WPS.BH) today held its Annual General Meeting of shareholders in Hamilton, Bermuda.

A slate of six directors composed of William P. Stewart, John C. Russell, Angus S. King, Jr., Henry B. Smith, Heinrich Spangler and Richard D. Spurling was elected to the Board of Directors. A proposal that the maximum number of directors be maintained at ten, and that the directors of the Company be authorized to appoint new directors either to fill vacancies occurring in the Board of Directors or to act as additional directors (up to the maximum of ten), was also approved.

In commenting on the meeting, William P. Stewart, the Chairman and Chief Executive Officer of the Company, thanked retiring Board members, Dr. Edgar Brunner and Richard Breeden, who have been directors since June 1998, for their service to the Company.

Mr. Stewart commented, "I am grateful to Dr. Brunner and Mr. Breeden for their objective guidance and support. Their depth of experience, both with private and public companies, has been of great assistance to us over the years and I wish each of them every success in the future."

In other action, the shareholders also re-appointed PricewaterhouseCoopers LLP as the Company's independent auditors for the fiscal year ended 31 December 2004 and until the close of the Annual General Meeting of the Company for 2005.

Following the Annual General Meeting, at a regular meeting of the Board of Directors, Dominik M.F. Brunner was appointed to the Board, effectively immediately.

Mr. Brunner is currently the Principal of FIRST CAPITAL INVESTMENTS LTD., a private company he founded in 1997, providing investment-banking services to European mid-sized enterprises. Also, in 1997, Mr. Brunner founded and operated DOMINIK BRUNNER - SERVICOS FINANCEIROS, LDA (DBSF). DBSF provided financial consulting in Portugal and acted as a representative of CLARIDEN BANK, a Credit Suisse Group company. The operations of DBSF were sold to CLARIDEN BANK AG at the end of 2003. From 1993 to 1997 Mr. Brunner was the Co- Managing Partner of ESPIRITO SANTO DEVELOPMENT CAPITAL INVESTORS. LTD., a $100 million private equity fund, sponsored by the Espirito Santo Group of Portugal

and whose investors included financial institutions from Europe, the Middle East and the United States. Previously, Mr. Brunner was involved in the European chemicals industry and the international

trading industry as an executive and management board member of several companies.

W.P. Stewart & Co., Ltd. is an asset management company that has provided research- intensive equity management services to clients throughout the world since 1975. The Company is headquartered in Hamilton, Bermuda and as additional operations or affiliates in the United States, Europe and Asia.

The Company's shares are listed for trading on the New York Stock Exchange (NYSE: WPL) and on the Bermuda Stock Exchange (symbol: WPS).

For more information, please visit the Company's website at

http://www.wpstewart.com, or call W.P. Stewart Investor Relations (Fred M. Ryan) at 1-888-695-4092 (toll-free within the United States) or +441-295-8585 (outside the United States) or e-mail to IRINFO@wpstewart.com.

SOURCE W.P. Stewart & Co., Ltd.

05/07/2004

/CONTACT: Fred M. Ryan, Investor Relations, W.P. Stewart, 1-888-695-4092, or +1-441-295-8585, or IRINFO@wpstewart.com/

/First Call Analyst: /

/FCMN Contact: denise@wpstewart.com /

/Web site: http://www.wpstewart.com /

(WPL)