Citigroup Global Transaction Services Selected as Custodian to Man Investments’ “Style Fund”

London, 09 June 2005 – Citigroup Global Transaction Services announced today that it has been selected as Custodian to Man Investments’ $7.8 billion “Style Fund” structure.

The Style Funds are one of Man's principal Fund of Hedge Fund structures against which a significant amount of Man Investments’ Alternative Investment products are applied.

Citigroup is one of Man's key Global Banking partners.

Laurence O’Connell, Chief Operating Officer of Man Investments, commented that, “We selected Citigroup as Custodian of our Style Funds because of their strong controls and most importantly, their ability to deliver a bespoke solution to accommodate the complexities of the multi-layered Style Fund structure.”

The Fund of Hedge Fund custody business is a natural extension for the Alternative Investment Administration solution set, which was launched in 2004, as part of Citigroup’s Fund Services, following the acquisition of Forum Financial at the end of 2003. Forum’s technology and products have been fully integrated into Citigroup Global Transaction Services’ standard systems, initially operating through Citigroup’s Portland, Maine and Bermuda facilities, and recently rolled out in the European marketplace through Citigroup’s operations centre in Dublin.

Fergus Healy, Citigroup Global Transaction Services’ Global Product Head of Alternative Fund Services said, “We are extremely excited to build on our partnership with Man. This is further evidence of our long-term commitment to the global fund services market. It demonstrates that Citigroup can and has applied the industrial strength processing capabilities to the Alternative Investment business domain and ensures that customised solutions are delivered to meet client specific needs. We are able to provide asset managers – including those involved in hedge funds – with a one-stop service spanning fund administration, custodial banking and trusteeship.”

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About Citigroup
Citigroup (NYSE: C), the preeminent 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, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.

About Citigroup Global Transaction Services
Citigroup® Global Transaction Services, is a leading provider of integrated cash management, trade, securities and fund services for corporations, financial institutions, intermediaries and governments around the world. With over $139 billion in average liability balances, more than $ 7.98 trillion in assets under custody and the largest proprietary branch network, Citigroup’s award-winning operating systems and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing cycles, and re-engineer receivables and payment processes. Citigroup® Global Transaction Services provides clients with access to Citigroup’s full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 100 local markets. For additional information, see www.transactionservices.citigroup.com.