According to the USCIS, as of October 14, 2011, the agency had
received 43,300 out of 65,000 available cap-subject H-1B petitions for
FY-2012 and 19,600 out of 20,000 available petitions under the H-1B
Master’s Cap Exemption.

When the Master’s Cap Exemption has been exhausted, petitions filed on behalf of beneficiaries with Master’s or higher degrees from US universities will be counted towards the general 65,000 H-1B limit for the fiscal year. 

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