CITI AWARDED MANDATE BY MERRITT CAPITAL TO DELIVER FUND OF HEDGE FUND ADMINISTRATION SERVICES

New York - January 20, 2010 – Citigroup today announced that it has been awarded a mandate by Merritt Capital to provide a comprehensive suite of fund of hedge fund administration services. In particular, Citi will be delivering fund accounting, fund administration and investor services.

"We were making the decision to retain an administrator for the first time and during our review of service providers we made it clear how important our investors and their requirements were to us. Citi took the time to listen to us, address our concerns and develop a program based on the best practices in the marketplace," says E. Robert Cotter, Managing Partner, Merritt Capital.

"We are very pleased that Merritt Capital has selected us and look forward to creating the right model of administrative solutions to support their future growth," says Neeraj Sahai, Global Head of Securities and Fund Services, Citi.

Citi’s offerings help fund of hedge fund managers, like Merritt Capital focus more of their professional, financial and technological resources on making investment decisions.

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $12 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.

Global Transaction Services, a division of Citi’s Institutional Clients Group, 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 that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2009, it held on average $335 billion in liability balances and $12.1 trillion in assets under custody.

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About Merritt Capital LP
Merritt Capital Partners LP is a multi-strategy fund of hedge funds that launched on January 1, 2005. The fund invests with long/short equity, event driven, distressed and relative value hedge fund managers. For additional information please contact the firm at (203) 656-2677.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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, transaction services and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.