TPOU Third Point Investors Limited

             Third Point Offshore Investors Limited (the "Company")

          (a closed-ended investment company incorporated with limited
                           liability under the laws of
                     Guernsey with registered number 47161)

                             Dividend Declaration

                               18 December 2014

The Boardof Third Point Offshore Investors Limited is pleased to announce that it
has approved the third annual dividend of approximately 5% of the net asset value
of each share class.

The declaration follows the adoption of a long-term dividend policy by the
Board, as announced on 24 October 2012. This policy anticipates that the
Company will pay a cash dividend of 4-5% of NAV to the extent that the positive
NAV performance of the Company would support such a dividend and absent other,
exigent circumstances relating to the Investment Manager and otherwise.

The Company is pleased to announce the following share class rates and dates:

Dividend per USD Share                  90 cents (USD)

Dividend per GBP Share                  87 pence (GBP)

Ex-Date                                 29 December 2014

Record Date                             30 December 2014

PayDate                                 16 January 2015

The dividend yield per share, based on the current share price,is
approximately 5.1%. Shareholders will receive their dividend in the respective
class currency.

The Company also announces the payment of the annual dividend to B shareholders
at fixed rate of 0.0000001 pence (Sterling) per B Share, irrespective of
whether their B Shares are denominated in Sterling or in any other currency.
This dividend will be paid on 16 January 2015.

Enquiries:
Company website:     www.thirdpointpublic.com

Andrew Maiden
Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: +44 (0)1481 745368