MW TOPS Limited: Additional Information

St. Peter Port, Guernsey, November 20 (ots/PRNewswire) -

- This Announcement is not for Release, Publication or
Distribution in or Into the United States, Canada, Australia or Japan

- This Announcement is an Advertisement and not a Prospectus and
is not an Offer to Sell or a Solicitation of any Offer to Buy any
Securities in the United States or in any Other Jurisdiction

Investors should not subscribe for the shares referred to in this
announcement except on the basis of the information contained in the
prospectus published on 10 November 2006 in connection with the
global offering of shares in the Company (and any supplement or
amendment thereto), copies of which can be obtained from the
Company's registered office: Anson House, St George's Place, St
George's Esplanade, St. Peter Port, Guernsey GY1 3GF, or the
registered office of the Company's investment manager Marshall Wace
LLP 13th Floor, 1-11 John Adam Street, London WC2N 6HT.

MW TOPS Limited ("MW TOPS") announced today that it has engaged a
Big Four accountancy firm in Germany to provide certain tax reporting
services in relation to Section 5 of the German Investment Tax Act
(Investmentsteuergesetz (InvStG)) for MW TOPS and each of the
underlying funds in which it will invest following its global
offering of shares and admission of its shares on Euronext
Amsterdam.

The reporting services will allow MW TOPS and each of the
underlying funds to fulfil the prerequisites for treatment as a
"transparent fund" for German tax purposes pursuant to Sections 2 and
4 of the German Investment Tax Act (Investmentsteuergesetz (InvStG)).

MW TOPS further intends to calculate on a monthly basis the
"equity gain" (Aktiengewinn) for MW TOPS and each of the underlying
funds in which it will invest using the month-end net asset value of
each underlying fund.

Notes for Editors

About the Company

MW TOPS Limited (the "Company") is a new closed-ended investment
company registered and incorporated in Guernsey. The Company has made
a global offering of its shares consisting of a private placement of
shares in The Netherlands and in other countries (the "Global
Offering"). The offer seeks to raise approximately EUR1 billion. The
Company will apply for admission of its shares on Euronext Amsterdam.

The Company's initial share capital will comprise three classes of
Shares, Euro Shares, Sterling Shares and US$ Shares, each of which
will be traded on Euronext Amsterdam.

The Company's investment objective will be to provide consistent
absolute returns primarily derived through trading in equities of
companies incorporated in or whose principal operations are in Europe
(including Eastern Europe).

The Company will seek to achieve this by appointing Marshall Wace
LLP ("Marshall Wace") to invest the Company's assets in the
underlying funds. Initially, the Company will invest 50 per cent. of
the net proceeds of the Global Offering in Sub-Trust C
(Opportunistic-Hedged) of Marshall Wace TOPS Trust and 50 per cent.
in Sub-Trust D (Fundamental-Hedged) of Marshall Wace TOPS Trust.
Marshall Wace may seek to identify opportunities for the Company to
invest in other underlying funds in the future while remaining within
the Company's investment objective and policy.

The Company is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 17c of the
Supervision of Collective Investment Schemes Act (Wet toezicht
beleggingsinstellingen).

Important Notice

Certain statements contained in this document, including those
relating to the Global Offering may be forward-looking statements. By
their nature, forward-looking statements involve a number of risks,
uncertainties and assumptions that could cause actual results or
events to differ materially from those expressed or implied by the
forward-looking statements. These risks, uncertainties and
assumptions could adversely affect the outcome and financial effects
of the plans and events described herein.

None of Marshall Wace, Citigroup Global Markets Limited, Deutsche
Bank AG, Merrill Lynch International or UBS Investment Bank (together
the "Banks") or the Company undertakes any obligations to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. A prospective investor
should not place undue reliance on forward-looking statements, which
speak only as of the date of this document.

None of Marshall Wace, the Banks or the Company accepts any
responsibility to any person if the prerequisites for treatment of
the Company and each of its underlying investment funds as
"transparent funds" pursuant to Sections 2 and 4 of the Investment
Tax Act are not fulfilled.

This announcement is an advertisement and not a prospectus and is
not an offer to sell or a solicitation of any offer to buy any
securities in the United States or in any other jurisdiction.

Neither this document nor anything contained herein shall form the
basis of, or be relied upon in connection with, any offer or
commitment whatsoever in any jurisdiction. Any offer to acquire
securities pursuant to the Global Offering will be made, and any
investor should make his investment, solely on the basis of
information that is contained in a prospectus dated 10 November 2006
generally made available in The Netherlands in connection with the
Global Offering (the "Prospectus"). Copies of the Prospectus can be
obtained at no cost from the Company at Anson House, St George's
Place, St George's Esplanade, St. Peter Port, Guernsey GY1 3GF, from
the paying agent, ING Bank N.V. at Heenvlietlaan 220, 1083 CN
Amsterdam, The Netherlands and through the website of Euronext
Amsterdam N.V. (Dutch residents only).

The Company accepts sole responsibility for the information
contained in the Prospectus and in this document. The content of this
announcement has been approved by Marshall Wace of The Adelphi, 1/11
John Adam Street, London WC2N 6HT solely for the purposes of section
21(2)(b) of the Financial Services and Markets Act 2000.

This announcement is based upon information which the Company
considers reliable, but no representation or warranty, express or
implied, is given by or on behalf of the Company, Marshall Wace or
any of the Banks or any of such persons' affiliates or their
respective members, directors, officers or employees or any other
person that it is accurate and complete and nor should it be relied
upon as such. None of the Issuer, Marshall Wace or any of the Banks
has any obligation to update this document or to correct inaccuracies
or omissions which may become apparent.

All investments are subject to risk. The value of the shares
offered may go down as well as up. Past performance is no guarantee
of future returns. An investment in the Company is speculative and
involves a substantial degree of risk, including the risk of total
loss. Prospective investors are advised to seek expert legal,
financial, tax and other professional advice before making any
investment decision.

Factual statements, statistical data, information regarding actual
and proposed issues contained in this document, views expressed, and
projections, forecasts or statements relating to various matters
referred to in this document do not necessarily represent Marshall
Wace's or any of the Banks' own assessment or interpretation of
information. Prospective investors should not treat the contents of
this document as advice relating to legal, taxation or investment
matters, and are to make their own assessments concerning these and
other consequences of the various investments, including the merits
of investing and the risks. Prospective investors are advised to
conduct their own due diligence.

Deutsche Bank AG is authorised under German Banking Law (competent
authority: BaFin-Federal Supervising Authority) and with respect to
UK commodity derivatives business by the Financial Services
Authority, regulated by the Financial Services Authority for the
conduct of UK business. Deutsche Bank AG is acting for the Company
and Marshall Wace and no one else in connection with the Global
Offering and will not be responsible to anyone other than the Company
and Marshall Wace for providing protections afforded to clients of
Deutsche Bank AG nor for providing advice in connection with the
Global Offering.

Merrill Lynch International, which is authorised and regulated in
the United Kingdom by the Financial Services Authority, is acting for
the Company and Marshall Wace and no-one else in connection with the
Global Offering and will not be responsible to anyone other than the
Company and Marshall Wace for providing the protections afforded to
its clients or for providing advice in relation to the Global
Offering, this document or any other matter.

UBS Investment Bank is acting for the Company and Marshall Wace
and no one else in connection with the Global Offering and will not
be responsible to anyone other than the Company and Marshall Wace for
providing protections afforded to clients of UBS Investment Bank nor
for providing advice in connection with the Global Offering.

ots Originaltext: Marshall Wace LLP
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For further information, please contact: Marshall Wace, Robert Brown,
+44-207-925-7623; Maitland, Neil Bennett, +44-207-379-5151; Deutsche
Bank, Quentin Nason, +44-207-547-3437; Merrill Lynch, Mark Gwynne,
+44-207-995-3700; UBS, Adam Welham, +44-207-567-8000


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