Three Recent Mandates Bring Number of Clients Worldwide to over 20

NEW YORK, Jul 07, 2008 (BUSINESS WIRE) -- Citi announces that OpenPrime, its innovative front-to-back
operating platform developed for hedge funds and 130/30 funds, has
attracted more than 20 clients worldwide during its first two years of
operation. The three recent mandates - from CMTF Asset Management
Limited, Galaxy Asset Management (HK) Ltd. and the Montana Board of
Investments for its new 130/30 funds -- underscore the marketplace's
recognition of the bottom-line benefits OpenPrime delivers to fund
managers around the world.

Nicholas Roe, Citi's Global Head of Prime Finance, said, "We are
focused on delivering quality solutions for all of our clients'
alternative investment services requirements. These three recent
mandates are additional evidence that OpenPrime is quickly becoming
the solution for hedge funds and institutional funds launching
leveraged or multi-asset products."

OpenPrime is a portfolio management and order management system
that is prime broker agnostic. It allows funds to manage their
positions in one place across multiple asset classes, strategies and
prime brokers. Citi hosts the solution for its clients, managing all
the technology and disaster recovery services. Fund managers can
access the solution anywhere in the world through the Internet.
OpenPrime, based on Linedata's Beauchamp technology, gives funds a
comprehensive view across legal vehicles, strategies, sectors and
counterparties, with immediate updates for every trade and price
change.

Peter Salvage, Citi's Global Head of OpenPrime and Hedge Fund
Middle Office Services, said, "These are top-flight hedge funds and
130/30 managers and we are proud they decided to go with OpenPrime.
Operations are becoming more complex and investors want to see
industrial strength operations from their fund managers. Managers want
to focus on what they are best at - making investment decisions, while
outsourcing their technology and operations. Global fund managers are
increasingly using OpenPrime to reduce operational complexity, risk
and costs."

In recognition of its breakthrough capabilities, OpenPrime was
cited for 'Innovation' in SourceMedia's '2007 Fund Operations Awards'
Program.

OpenPrime is a part of Citi's suite of hedge fund servicing
solutions, integrating Prime Finance, Hedge Fund Administration and
Lava direct market access platforms.

OpenPrime's recent client mandates include:

-- CMTF Asset Management Limited is a joint venture between China
Merchants Securities and Tai Fook Asset Management. CMTF Asset
Management is a prime brokerage client of Citi that has
recently launched an equity long-short fund focusing on the
Greater China region. It is also one of Hong Kong's most
visible hedge fund managers, backed by the experience of China
Merchants Securities and Tai Fook Asset Management. OpenPrime
will enable CMTF to improve investment portfolio management
and streamline operations through the use of trade capture,
portfolio management, analytics and reporting, and portfolio
accounting tools

-- Galaxy Asset Management (HK) Ltd, one of the highly regarded
hedge fund houses in Hong Kong, is utilizing OpenPrime as the
operating platform for its recently launched Galaxy China Deep
Value Fund. The fund aims to capitalize on under-valued
opportunities in both the listed and non-listed markets in
China, Hong Kong and Taiwan. It has the ability to invest up
to 30% in unlisted securities including pre-IPOs and private
equity deals. Joe Chan and Jacky Wong, the two Managing
Directors at the company, decided to deploy OpenPrime to
assist their team with operations flow on a daily basis. The
system is also utilized to track daily profit and loss,
provide automated pricing of the portfolio and deliver reports
for all trades both with prime brokers and with
administrators.

-- Montana Board of Investments is the manager of the public
pension funds for the state of Montana. MBOI selected Citi
Prime Finance and OpenPrime to help manage a program of
investments in 130/30 strategies. OpenPrime allows MBOI to
more effectively monitor these investments by providing
consolidated metrics across their entire investment program.
Using OpenPrime, MBOI can also analyze their 130/30 program by
manager and sector. OpenPrime automatically alerts MBOI on
screen and by email if their 130/30 investments approach
certain risk thresholds specific to the MBOI program.

Global Transaction Services, a division of Citi Markets & Banking,
offers integrated cash management, trade, and securities and fund
services to multinational corporations, financial institutions and
public sector organizations around the world. With a network spanning
over 100 countries, Citi's Global Transaction Services supports over
65,000 clients. As of the 1st quarter of 08, it held on average $283
billion in liability balances and nearly $13 trillion in assets under
custody.

Citi, the leading global financial services company, has some 200
million customer accounts and does business in more than 100
countries, providing consumers, corporations, governments and
institutions with a broad range of financial products and services,
including consumer banking and credit, corporate and investment
banking, securities brokerage, and wealth management. Citi's major
brand names include Citibank, CitiFinancial, Primerica, Smith Barney,
Banamex, and Nikko. Additional information may be found at
www.citigroup.com or www.citi.com.

SOURCE: Citi

Citi
Media:
Nina Das, +1 212 816 9267
nina.das@citi.com

Copyright Business Wire 2008