Edward Meenan was found brutally murdered in Derry on Sunday
He is currently in custody being questioned.
A 35 year old woman arrested earlier this week has now been released on bail pending further enquiries.
Three men aged 19, 26 and 31 remain in police custody.
The body of Mr Meenan was found in an alleyway off Creggan Street in the Bogside at 2.45 am on Sunday morning not far from his home in Little Diamond.
Police say he sustained significant injuries to his head and body.
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