NEW YORK, May 2, 2008 /PRNewswire via COMTEX News Network/ -- The Securities Law Firm of Klayman &
Toskes, P.A. ("K&T")( http://www.nasd-law.com ) announced today that a lawsuit
has been filed against Citigroup Global Markets, Inc. ("Citigroup") (NYSE: C),
and other related parties, in the United States District Court for the
Southern District of New York on behalf of purchasers of MAT Five, LLC ("MAT
Five"), Case No. 08-CV-4152. To date, MAT Five has lost about 90% of its
original value.

Following the launch of MAT Five, Citigroup solicited several of its high
net worth customers, many of whom were retirees, to invest in the Fund.
Within its sales pitch, Citigroup represented MAT Five to be a fixed income
product that could provide higher yields, and that the Fund was a "safe" and
"secure" investment, not subject to a significant amount of volatility. The
Complaint Filed in Federal Court alleges that "[o]ne type of investment
Citigroup promoted to its investors was municipal bond opportunities involving
the arbitrage of tax-exempt and taxable bonds. These were actually very risky
investments which could drop precipitously if the markets changed, or if the
investments were not properly managed." Presentation materials for MAT Five
were provided to Citigroup's customers along with the distribution of hundreds
of millions of dollars of shares. The presentation materials are alleged to be
"false and misleading in that the strategy to be employed would not protect
investors as suggested by the ratings of the underlying investments."
Further, it is believed that Citigroup failed to implement risk management
strategies to prevent the MAT Five management from investing the Fund's assets
in risky and speculative investments. Moreover, as the Fund was losing value,
Reaz Islam, the manager of the Fund, assured brokers and customers that the
Fund would rebound in value. This only allowed the bleeding to continue, and
caused investors to lose even more money.

Citigroup sent a letter to MAT Fund investors on March 20, 2008. In the
letter, the firm advised investors that the credit crisis had spread into the
municipal bond markets. Consequently, the cash positions and net asset values
of the MAT Five fund had been severely impacted, and Citigroup would therefore
suspend MAT Five's income distributions indefinitely. Apparently, the freeze
on distributions was an attempt to preserve liquidity in the Fund.

The Law Firm of Klayman & Toskes is also investigating Citigroup's
management of its ASTA Fund. The ASTA Fund was managed in similar fashion to
that of MAT Five, as described above. Many retirees have also been burned by
the ASTA Fund, as it too is down about 90%.

If you are an investor of Citigroup's MAT or ASTA Funds and wish to
explore your legal options, please contact Steven D. Toskes, Esquire or Jahan
K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956. You may also
visit us on the web at http://www.nasd-law.com .

Klayman & Toskes, P.A., an experienced and nationally recognized
securities litigation law firm, continues its representation of investors
throughout the world in securities arbitration and litigation matters against
major Wall Street brokerage firms.

SOURCE Klayman & Toskes, P.A.

http://www.nasd-law.com/

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