W.P. Stewart & Co., Ltd. Holds Annual General Meeting of Shareholders

W.P. Stewart & Co., Ltd. Holds Annual General Meeting of Shareholders

May 11, 2006

    HAMILTON, Bermuda, May 11 /Xinhua-PRNewswire/ -- W.P.
Stewart & Co., Ltd. today held its Annual General
Meeting of shareholders in Hamilton, Bermuda.

    A slate of nine (9) directors composed of William P.
Stewart, John C. Russell, Henry B. Smith, Dominik M.F.
Brunner, Angus S. King, Jr., Jeremy W. Sillem, Heinrich
Spangler, Jan J. Spiering and Richard D. Spurling was
elected to the Board of Directors. A proposal that the
maximum number of directors be increased from ten (10) to
twelve (12), 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 twelve), was
also approved.

    In other action, the shareholders also:

    1.  re-appointed PricewaterhouseCoopers LLP as the
Company's independent
        auditors for the fiscal year ended 31 December 2006
and until the
        close of the Annual General Meeting of the Company
for 2007 and to
        authorize the Board of Directors (acting by its
Audit Committee) to
        fix the auditors' remuneration; and

    2.  ratified and approved the issuance or the
commitment to issue by the
        Company of 832,500 of its common shares, in the
aggregate, to certain
        of its directors, officers and other employees
during the year ended
        31 December 2005 and early 2006 (all of which
shares are or will be
        subject to vesting requirements ) and the
commitment by the Company to
        issue in the future up to an additional 120,000
common shares, in the
        aggregate, to certain of its officers and employees
(all of which
        additional issuances are subject to the
satisfaction of certain
        conditions relating to the Company's profitability,
investment
        performance or both). 

    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 (symbol: 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 [phone]
(outside the United States) or e-mail to
[e-mail].

    For more information, please contact:

     Fred Ryan
     W.P. Stewart & Co., Ltd.
     Tel:   [phone]

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