CITI AWARDED REDWOOD FUND SERVICES MANDATE

Hong Kong - September 16, 2009 – Citi Securities and Fund Services, a division of Global Transaction Services, has been mandated Redwood Investment Management to provide a suite of fund services to its Redwood China Fund, which was launched in 2009.

Under the deal, Citi is now acting as hedge fund administrator for the Redwood China Fund. As administrator, Citi provides the client with efficient and independent hedge fund valuation and administration services. Additionally, by partnering with Citi, Redwood Investment Management, is also receiving market-leading and innovative transfer agency and corporate secretarial services.

For Redwood Investment Management’s fund, Citi Securities and Fund Services is leveraging the strength of its international network to provide a suite of services. Specifically, Citi’s Asia Pacific operations team in Hong Kong, which seamlessly processes hedge fund administration services, including daily reconciliations, supports Redwood China Fund. The transfer agency and corporate secretarial component of the mandate are be performed by Citi’s Alternative Investment Services hub in Ireland.

The mandate comes as investor demand in Asia Pacific for robust, cost efficient and independent fund administration services expands. By awarding the business to Citi, Redwood Investment Management has also strongly endorsed Citi’s strategy of providing client focused solutions and market-leading alternative investment expertise.

Patrick Lo, Chief Executive Officer at Redwood China Master Fund, said: "At Redwood Investment we insist on considerable rigour, transparency and accountability from the administrators of our underlying funds. The team at Citi Fund Services impressed us with their technology infrastructure, investor service capability and attention to detail."

David Russell, Managing Director, Region Head of Securities and Fund Services, Asia Pacific, Citi, said: "Investor demands for administration services are clearly evolving and Citi’s client-focused approach is proving highly attractive to all forms of asset managers. We look forward to providing Redwood Investment Management with the region’s leading administration services now and in the future."

Kay Sprague, Director, Region Head of Client Solutions, Asia Pacific, Citi said: "At Citi, we have seen significant growth in the alternative asset sector and our focus has provided us with an exciting opportunities to work with Redwood Investment Management. We are confident that no other provider can support the broadest range of alternative investment managers across the region, whilst ensuring the best control processes available, as Citi can."

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About Redwood Investment Management
Redwood Investment Management (Asia) Limited is an investment advisory firm specialized in the Greater China Region. The investment objective of Redwood Investment Management is to achieve consistent absolute returns in all market conditions through multi-strategy investments. Its strategy focuses on generating right macro/sector calls followed by alpha ideas within specific sectors. Redwood Investment has Multi Fund Products- Redwood China Fund (hedge fund) and Domestic A share Trust funds]. The team is led by Patrick Lo (ex Fidelity/Merrill Lynch) and Losa Mak (ex HSBC). It has a local research team of four analysts based in Shanghai.

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, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.