W.P. Stewart Names John C. Russell Interim President and Chief Executive Officer Following Resignation of Henry B. Smith for Health Reasons

    Mr. Russell will relinquish the position of Deputy Chairman but remain on the Company's Board of Directors as a Director and a member of the Executive Committee of the Board. Mr. Smith will remain on the Board of Directors in the position of Deputy Chairman and a member of the Executive Committee of the Board.

    William P. Stewart remains Chairman of the Board and continues to actively manage significant client accounts for the Company. Mr. Stewart is also a member of the Executive Committee of the Board.

    Mr. Smith had major surgery early in 2005, which was successful, but resulted in post-operative complications that make it difficult for him to meet the demands imposed by the full-time role of President and Chief Executive Officer. Consequently, Mr. Smith feels it is in his best interests and the Company's that he step back from the day-to-day management activities while remaining in an important role on the Company's Board of Directors.

    The Board of Directors expressed their thanks to Henry Smith for his leadership and contribution during the past year in his capacity as President and Chief Executive Officer and wished him a speedy return to good health. The Board also has established a special committee to conduct a search for a new President and Chief Executive Officer with plans to fill the position within the next few months.

    The Company

    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 .

     Statements made in this release concerning our assumptions, expectations, beliefs, intentions, plans or strategies are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ from those expressed or implied in these statements. Such risks and uncertainties include, without limitation, the adverse effect from a decline or volatility in the securities markets, a general downturn in the economy, the effects of economic, financial or political events, a loss of client accounts, inability of the Company to attract or retain qualified personnel, a challenge to our U.S. tax status, competition from other companies, changes in government policy or regulation, a decline in the Company's products' performance, inability of the Company to implement its operating strategy, inability of the Company to manage unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations, industry capacity and trends, changes in demand for the Company's services, changes in the Company's business strategy or development plans and contingent liabilities. The information in this release is as of the date of this release, and will not be updated as a result of new information or future events or developments.

 SOURCE  W. P. Stewart & Co., Ltd.

    -0-                             03/13/2006

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

    /First Call Analyst: /

    /FCMN Contact: fred@wpstewart.com /

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

    (WPL)