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Masters Limited Announces Share Repurchase

24 24 2005

Hamilton, Bermuda: 24^th January 2005 - Masters Limited (MSTR.BH) has today informed the Bermuda Stock Exchange (BSX) that the Company repurchased the following shares at a price of $12.00 per share.

· 100 shares on 21^st December 2004;

· 5,000 shares on 13^th January 2005; and

· 5,000 shares on 14 January 2005.

Furthermore, the Company advised that the repurchased shares are to be cancelled.