Brummer & Partners Appoint Citi Depositary and Prime Broker

  Brummer & Partners Appoint Citi Depositary and Prime Broker

               Citi launches New Depositary Offering in Sweden

Business Wire

LONDON & STOCKHOLM -- December 18, 2012

Citi has been awarded a mandate from Brummer & Partners, Sweden's largest
hedge fund manager, to provide depositary, custody and prime brokerage
services for its recently-launched Carve fund.

“We are delighted to appoint Citi for our new Carve funds,” said Peter Thelin,
CEO and Portfolio Manager at Carve Capital. “Citi’s local presence,
proprietary global sub-custody network and its ability to offer a multi prime
brokerage model for Swedish investment funds, putting Sweden in line with the
rest of Europe, have been important factors in our decision.”

Building on this mandate, Citi is now able to provide local depositary,
custody and prime brokerage services in Sweden. Through the new offering, Citi
can support locally domiciled funds with independent depositary capabilities
including oversight of funds’ service providers, safekeeping of funds’ assets,
as well as daily automated monitoring of funds’ investment guidelines and
regulatory restrictions.

Citi has had a presence in Sweden since 1976. The company offers a broad range
of financial services and products across the full spectrum of Corporate and
Investment Banking, Global Markets and Transaction Services.

"We are thrilled to provide depositary and custody services in Sweden,” said
Sanjiv Sawhney, EMEA Head of Securities and Fund Services at Citi. “This new
offering as well our appointment by one of  Europe's longest established and
most successful hedge funds further strengthen our presence in this growing
and promising market. We look forward to leveraging our global network to
support the local investment community.”

With offices in Hong Kong, London, New York, Singapore, Sydney, San Francisco
and Tokyo, Citi is one of the world's leading providers of Prime Brokerage
services, leveraging Citi's global distribution network and worldwide
relationships to provide consistent, high quality service and innovative
solutions.

”We are delighted to be chosen as Prime Broker for the Carve fund,” said Mark
Harrison, European Head of Prime Finance at Citi. ”In bringing together our
Swedish Depositary and our global Prime Financebusiness, we have created a
compellingand integrated offering allowing the Swedish onshore Hedge Fund
community to benefit from Citi’s Multi Prime Brokerage model.”

Citi OpenInvestor is the investment services solution for today’s diversified
investor that combines specialized expertise, comprehensive capabilities and
the power of Citi’s global network to help clients meet performance objectives
across asset classes, strategies and geographies. Citi OpenInvestor provides
institutional, alternative and wealth managers with middle office, fund
services, custody, investing and financing solutions that are focused on their
specific challenges and customized to their individual needs. For more
information, visit openinvestor.transactionservices.citi.com.

                                   - Ends--

About Citi

Citi, the leading global financial services company, has approximately 200
million customer accounts and does business in more than 160 countries and
jurisdictions. 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| Twitter: @Citi | YouTube:
www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Citi Transaction Services

Citi 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 95
countries, Citi’s Transaction Services supports over 65,000 clients. As of the
third quarter of 2012, it held on average $415 billion in liability balances
and $12.8 trillion in assets under custody.

Contact:

Stockholm:
Hampus Stenberg
Tel: +46 (0)8723 3416
Email: hampus.stenberg@citi.com
or
London:
Capucine Boncenne
Tel: +44 20 7508 9355
Email: capucine.boncenne@citi.com