CITI WINS MINERVA CAPITAL MANAGEMENT FUND SERVICES DEAL

Hong Kong - September 17, 2009 – Citi Securities and Fund Services, a division of Global Transaction Services, has been mandated by Minerva Capital Management to provide a suite of administration services. For the Hong Kong-based hedge fund, Citi will directly service its flagship fund, the Minerva Macro Fund.

As administrator to the Minerva Macro Fund, Citi provides the client with efficient and independent hedge fund valuation and administration services. Additionally, by partnering with Citi, Minerva Capital Management is also receiving unrivalled and innovative transfer agency services.

To provide market-leading services to Minerva Capital Management, Citi Securities and Fund Services provides expertise from its regional network. For Minerva Capital Management, Citi's Asia Pacific operations team in Hong Kong now seamlessly processes hedge fund administration services, including daily reconciliations. Under the mandate, Citi Securities and Funds in Singapore perform transfer agency services for the client.

The mandate correlates to an evolving trend in Asia Pacific for end-to-end, cost efficient and independent fund administration services. By awarding the business to Citi, Minerva Capital Management has also strongly endorsed Citi's strategy of providing market-leading alternative investment expertise and the dedication of client-focused staff in Hong Kong.

Dorothy Lau, Risk and Business Manager, Minerva Capital Management said: "When we decided to look for an administrator a number of key points were essential. These requirements were based on an independent administrator, with a proven track record, a high level of automated and efficient systems, flexible reporting solutions and an experienced accounting team. Citi's ability to combine this high-end technology with an in-depth knowledge of global regulatory requirements made Citi an obvious choice."

David Russell, Managing Director, Region Head of Securities and Fund Services, Asia Pacific, Citi, said: "Asia Pacific's most dynamic hedge funds are constantly evolving and see incredible value in appointing independent fund administrators. Citi, with its unmatched experience, infrastructure and dedication was a clear recipient of the flight to quality by Minerva Capital Management and we are truly proud to partner with them."

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Minerva Capital Management
Minerva Macro Fund, launched in Aug with around 70 million AUM, is a Global Macro Fund with Asia bias. Founding partner and PM Stanley Ku has 12 years of profitable macro trading experience and had worked for Goldman Sachs and Drawbridge Global Macro Fund. Dorothy Lau, risk and business manager, worked in Goldman Sachs, JPMorgan and Merrill Lynch before co-founding Minerva.

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.