The book opens with French spy Annique Villers and English spies Grey and Adrian locked up in a French prison to most likely await their deaths. Using her abilities, Annique manages to get them all out, not really knowing why she is helping English spies, and soon regrets it once Grey brings her along on their way back to England.
I really enjoyed the first parts of the book, such as all the times Annique tried to kill Grey. Some were clever, some were not so clever. However, as the story wore on, I tended to find her a bit unbelievable. I can't really explain why without giving much away. And at times I found her ridiculous. I couldn't figure out why she talked the way she did. It annoyed me. She talked a like a child at some points.
As for the hero, Grey, I didn't take too much to him. I don't take too much to heroes who keep thinking the heroine is 'theirs,' as if she were property. Perhaps I'm reading the wrong genre, then. I quite liked his friend and fellow spy Adrian. He was loyal and intelligent and very amusing. I'd like to see a book written up with him as the hero.
Overall, I liked The Spymaster's Lady, but didn't love it. It has it's exciting moments where I couldn't read fast enough. And it has had some great side characters, which I ended up loving more than the main two. I do plan on reading the next two books in the series, which are also about spies.