THIRD POINT OFFSHORE INVESTORS LIMITED - Net Asset Value(s)

Third Point Offshore Investors Limited (the "Company")

(A closed-ended investment company incorporated in Guernsey with registration
number 47181)

                      ESTIMATED NET ASSET VALUE OF SHARES

The estimated net asset value per share ("NAV") of each of the under
mentionedtwo classes of shares of no par value in the Company, as at the close
of business on 31st January 2015 is:

    CLASS         NAV     MTD Performance   YTD Performance       SEDOL

  Sterling     GBP 16.04       -2.4%             -2.4%           B1YQ6R9
   Shares

 USD Shares    USD 16.67       -2.3%             -2.3%           B1YQ721

The MTD performance figures are calculated by reference to the previous
estimated month end NAV or, if published, the previous month end confirmed 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 an estimate only, and are based
on unaudited estimated valuations supplied by the administrator of Third Point
Offshore Fund, Ltd("Master Fund").The actual month end NAV may be materially
different from the estimated monthly value. Accordingly, no reliance should be
placed on such estimated NAV and it should only be taken as an indicative
guide.

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:

Northern Trust International Fund Administration Services (Guernsey) Limited

Enquiries:

Company website: www.thirdpointpublic.com

Andrew Maiden
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: [phone]
Email: [e-mail]

3rd February 2015