London, Dubai - January 26, 2010 – Citigroup announced today that its Global Transaction Services business has been appointed by Gulfmena Alternative Investments Ltd, a specialist asset management company and hedge fund manager, to provide global custody services for their newly launched Gulfmena Arab Opportunities Fund Limited.

The Fund is a multi-faceted, directional, absolute return strategy which focuses primarily on publicly listed equities in the MENA region; it has a long bias with short extensions. The fund was launched in December 2009 and is domiciled in the Cayman Islands.

Haissam Arabi, Chief Executive Officer and Fund Manager, Gulfmena Alternative Investments Ltd, said, "By choosing Citi, we are gaining access to their high calibre expertise, global footprint and local knowledge. Citi was able to provide us with a solution that was flexible and matched the needs of our company."

Citi has extensive experience in providing global custody services to asset managers. Commenting on the appointment, Richard Street, Head of Securities and Fund Services, Middle East, Citi, said, "To have been appointed by Gulfmena Alternative Investments Ltd is a great endorsement of our Global Custody product and our ability to deliver our Investor Services capabilities with a local service touch. We continue to expand our MENA franchise and implement our strategy to embed our Securities and Fund Services capabilities within the Region. The Middle East is an exceptional marketplace - one demanding local solutions with global service standards".

Citi has identified the Middle East as a strategic area for the Global Transaction Services business and has set a goal of delivering market leading capabilities and practices locally from within the Middle East. This build out began with the launch of its direct custody and clearing operations to three UAE markets in January 2009, and its fund services to the Bahrain Regulated Funds announced in July 2008. Further to this, Citi launched its Issuer Services business in the Middle East in April 2009, providing on-shore agency and trust capabilities to clients in the Middle East.

Citi has been present in the Middle East for nearly fifty years and continues to view the region as critical to its global franchise. It is currently present in 11 Middle Eastern countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar, Pakistan and Kuwait.


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 or

About Global Transaction Services
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.