Download CITI`s OPENPRIMESM HEDGE FUND OPERATING

For immediate release
Citigroup Inc. (NYSE symbol: C)
July 7, 2008
CITI’s OPENPRIMESM HEDGE FUND OPERATING PLATFORM
WINS THREE NEW MANDATES
Three Recent Mandates Bring Number of Clients Worldwide to over 20
NEW YORK -- 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 Rowe, 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 part of Citi’s Hedge Fund Services suite, which integrates 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.
###
Media Contacts:
Nina Das ([email protected]) +1 212 816 9267