Many investors of the MAT Funds have been given a tender offer by Citigroupin exchange for a release of all legal claims. However, investors of theMAT Funds should cautiously study such offers, and are strongly encouragedto consider all of their legal rights before agreeing to accept any offersfrom Citigroup. According to Klayman & Toskes' investigation ofCitigroup's proposed tender offer, investors will most likely recover ahigher percentage of their losses by filing an individual arbitration claimagainst the brokerage firm. According to Jahan K. Manasseh, an attorney atKlayman & Toskes, "The fact that Citigroup is looking to settle withinvestors rather quickly raises suspicion and substantiates the fact thatthe brokerage firm realizes its exposure and liability in connection withthe manner in which it managed the MAT Funds." To date, the MAT Funds havelost about 90% of their original value, and have left investors wonderingwhat went wrong.

Following the launch of the MAT Funds, Citigroup solicited several of itshigh net worth customers, many of whom were retirees, to invest in theFunds. Within its sales pitch, Citigroup represented the MAT Funds to befixed income products that could provide higher yields, and that the Fundswere "safe" and "secure" investments, not subject to a significant amountof volatility. The Complaint filed in federal court alleges that "[o]netype of investment Citigroup promoted to its investors was municipal bondopportunities involving the arbitrage of tax-exempt and taxable bonds.These were actually very risky investments which could drop precipitouslyif the markets changed, or if the investments were not properly managed."Presentation materials for the MAT Funds were provided to Citigroup'scustomers along with the distribution of hundreds of millions of dollars ofshares. The presentation materials are alleged to be "false and misleadingin that the strategy to be employed would not protect investors assuggested by the ratings of the underlying investments."

Further, it is believed that Citigroup failed to implement risk managementstrategies to prevent the MAT Funds' management from investing the Funds'assets in risky and speculative investments. Moreover, as the Funds werelosing value, Reaz Islam, the manager of the Funds, assured brokers andcustomers that the Funds would rebound in value. This only allowed thebleeding to continue, and caused investors to lose even more money.Citigroup sent a letter to the MAT Funds' investors on March 20, 2008. Inthe letter, the firm advised investors that the credit crisis had spreadinto the municipal bond markets. Consequently, the cash positions and netasset values of the MAT Funds had been severely impacted, and Citigroupwould therefore suspend the MAT Funds' income distributions indefinitely.Apparently, the freeze on distributions was an attempt to preserveliquidity in the Funds.

The attorneys at the Law Firm of Klayman & Toskes are dedicated toaggressively pursuing claims on behalf of investors who have sufferedlosses in the ASTA and MAT Funds, and as a result of the credit crisis andsubprime fallout as a whole. Klayman & Toskes, an experienced, qualifiedand nationally recognized securities litigation law firm, practicesexclusively in the field of securities arbitration and litigation. Itcontinues its representation of investors throughout the world insecurities arbitration and litigation matters against major Wall Streetbrokerage firms.

If you want to discuss your legal options at no obligation, includingwhether the filing of an individual arbitration claim is right for you,please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire ofKlayman & Toskes, P.A., at 888-997-9956, or visit us on the web athttp://www.nasd-law.com.

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