TPOG Third Poi. ??

            Third Point Offshore Investors Limited (the "Company")

 (a closed-ended investment company incorporated with limited liability under
                                  the laws of
                    Guernsey with registered number 47181)

                        Monthly Final Net Asset Values

The final month end net asset value per share ("NAV") of each of the under
mentioned classes of shares of no par value in the Company, as at the close of
business on 30th November are:



    CLASS          NAV          MTD      YTD Performance       SEDOL
                            Performance

   Sterling     GBP 17.50       2.4%           8.0%           B1YQ6R9
    Shares

  USD Shares    USD 18.19       2.3%           7.8%           B1YQ721

The MTD performance figures are calculated by reference to the previous final
month end NAV. The YTD performance figures are calculated by reference to the
NAV at the end of the last calendar year.

The NAV figures stated in this announcement are based on unaudited valuations
supplied by the administrator of Third Point Offshore Fund, Ltd ("Master
Fund").



This document is for information purposes only and is not an offer to invest.
All investments are subject to risk. Past performance is no guarantee of future
returns. Prospective investors are advised to seek expert legal, financial, tax
and other professional advice before making any investment decision. The value
of investments may fluctuate. Results achieved in the past are no guarantee of
future results.





Enquiries:
Company website: www.thirdpointpublic.com

Andrew Maiden
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: +44 (0) 1481 745368
Email: ARM7@ntrs.com