Citi Property Investors Broadens Global Investment Capabilities With Addition of Shanti Sen to New York Office

    NEW YORK, October 4 /CNW/ - Citi Property Investors (CPI), the global
real estate investment management business of Citi Alternative Investments
(CAI), has announced that international real estate investor Shanti Sen has
joined the firm as Managing Director, Head of Merchant Banking. Ms. Sen has
more than 22 years of transaction experience gained at premier real estate
organizations. She joins CPI from GIC, the Government of Singapore Investment
Corporation, where she was Senior Vice President, Head of Corporate Investment
Group (CIG), responsible for leading GIC's international corporate entity
investment activities.

    Ms. Sen's experience and expertise include both private and public
markets; equity and debt structuring and investment; strategic and minority
corporate stakes; and portfolio and multi-sector investment. At CPI, she will
work with the firm's regional investment centers to identify and execute
large-scale entity investment opportunities around the globe.

    Joseph Azrack, President and Chief Executive Officer of CPI, stated,
"Shanti's experience and global relationships will permit CPI to broaden the
scope of investments available to our institutional and high net worth
clients. By focusing on real estate operating company and portfolio
transactions, the merchant banking group under Shanti's leadership will
complement our existing investment resources in Asia, Europe and North
America, and will enhance CPI's ability to offer our clients large-scale,
well-structured real estate investment opportunities."

    Ms. Sen said, "The depth of Citi's capital and breadth of its resources
and global reach present an exciting and sustainable platform from which to
undertake strategic investment opportunities in the real estate arena. I look
forward to building on CPI's track record underpinned by its multidisciplinary
expertise and contributing to the continued growth and success of the firm."

    Citi Property Investors is a global investment manager with offices in
New York, London, Los Angeles, Shanghai and Hong Kong, and a presence in
Mumbai. With more than $12 billion in assets under management, CPI invests
across both private and public markets. CPI has dedicated teams in North
America, Europe and Asia that invest across office, industrial, multifamily,
retail and hotel property types. CPI's strength is defined by its
research-driven investment strategies, capital market sensitivity and
exceptional investment sourcing and execution capabilities. CPI is the real
estate investment center of Citi Alternative Investments, which brings
together Citi's broad expertise to create a single platform for the
management, development and marketing of alternative investments to
institutional and high net worth investors. Citi's capital is used to seed and
co-invest with investors in CPI's real estate investment funds.

    Citi Alternative Investments is an alternative investment platform that
manages a wide range of products across four asset classes, including private
equity, hedge funds, real estate and structured products. CAI manages capital
on behalf of Citi, as well as third-party institutional and high net worth
investors. As of June 30, 2007, CAI had approximately $59.2 billion of
un-levered assets under management, ranking CAI among the world's largest
alternative asset managers. CAI's goal is to enable its 16 investment centers
to retain the entrepreneurial qualities required to capitalize on evolving
opportunities, while benefiting from the intellectual, operational and
financial resources of Citi.

    Citi, the leading 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, securities brokerage, and wealth management.
Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi
Smith Barney and Banamex. Additional information may be found at or

For further information:

For further information: Citi Jon Diat, 212-793-5462

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