NEW YORK, June 26, 2008 (PRIME NEWSWIRE) -- Scott+Scott LLP has filed a class action on behalf of all persons or entities who purchased or otherwise acquired shares of the MAT Five LLC Fund ("MAT Five Fund" or "Fund") pursuant and/or traceable to the Private Placement Memorandum issued on or about December 18, 2006. The complaint alleges that MAT Five, Citigroup Global Markets Inc., Citigroup Alternative Investments LLC and Citigroup Fixed Income Alternatives violated section 12(a)(2) of the Securities Act of 1933 (the "1933 Act") and Delaware law.

Specifically, the complaint alleges that during late 2006 and continuing into early 2007, Citigroup, through Citigroup Fixed Income Alternatives and Citigroup Alternative Investments LLC (CAI) targeted many of its clients who were interested in fixed-income investments which would provide higher yields. Defendants marketed the MAT Five Fund to these clients and disseminated a false and misleading Private Placement Memorandum in connection with the issuance of hundreds of millions of dollars of shares. The Private Placement Memorandum and related selling documents were false and misleading because they represented that the Fund was a secure, non-volatile investment. In reality, the Fund was a high-risk investment which could lose substantial value if the markets changed or if it was not properly managed.

Indeed, MAT Five Fund management employed risky strategies and lost. On March 20, 2008, CAI wrote a letter to investors which stated that the recent credit crunch had rapidly accelerated and spread into the municipal bond markets. As a result, the cash positions and net asset values of the MAT Five Fund had been severely impacted, and they were going to indefinitely suspend the fund's income distributions in an effort to preserve liquidity. At the time of the letter, the Fund had declined to less than 10% of its original value and no further distributions were made to the Plaintiffs.

If you are an investor of Citigroup's MAT Five Fund and wish to serve as a lead plaintiff in the action, you must move the Court no later than June 30, 2008. Any member of the investor class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member.

If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537 or visit the Scott+Scott website, http://www.scott-scott.com) for more information. There is no cost or fee to you. Scott+Scott has significant experience in prosecuting major securities, antitrust and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities worldwide.

More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca

Scott+Scott, LLP
(800) 404-7770
(860) 537-5537
scottlaw@scott-scott.com