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W.P. Stewart Announces the Resignation of Two Portfolio Managers

Hamilton, Bermuda: January 5, 2006 -  W.P. Stewart & Co., Ltd. ("W.P. Stewart" or the "Company") announced today that Alex Farman-Farmaian and Peter Jennison, both members of the U.S. equity portfolio management team, have left the Company to pursue their investment business interests at another firm.

    While disappointed with these resignations, the Company is fully confident in its business strategy of providing premier equity investment management services to our clients on a worldwide basis. The current U.S. equity investment team, including recent additions, under the direction of Harry Segalas, Chairman, Chief Executive Officer and Chief Investment Officer of our U.S. investment advisory affiliate, is well positioned to continue the distinctive and disciplined W.P. Stewart investment philosophy which has resulted in a superior long-term performance record for our clients.

    In commenting on the resignations, Henry Smith, President and Chief Executive Officer of W.P. Stewart said: "It is always disappointing when employees who have been with you for many years decide to move on but it is not unusual in our industry and the Company has made a number of strategic and tactical moves over the last few months that we feel strengthen our future prospects. We will focus on what has to be done in light of these resignations and work hard to maintain our excellent long-term investment track record and continue to develop our global client service and marketing initiatives."

     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 has 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 (BSX: 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.

    -0-                             01/05/2006

    /CONTACT:  Fred Ryan of W.P. Stewart & Co., Ltd., +1-441-295-8585/

    /FCMN Contact: denise@wpstewart.com /

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

    (WPL)