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                              
                                    10 January 2017                                

    The Board of Third Point Offshore Investors Limited is pleased to announce that
    it has approved the fourth annual dividend of approximately 4% 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               71 cents (USD)                      
                                                                             
    Dividend per GBP Share               67 pence (GBP)                      
                                                                             
    Ex-Date                              19 January 2017                     
                                                                             
    Record Date                          20 January 2017                     
                                                                             
    Pay Date                             14 February 2017                    

    The dividend yield per share, based on the current share price, is
    approximately 5%.  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 14 February 2017.


    Enquiries:
    Company website:         www.thirdpointpublic.com

    Franczeska Hanford
    Northern Trust International Fund Administration Services (Guernsey) Limited
    Tel:          +44 (0) 1481 745918