MAS IMPOSES COMPOSITION AMOUNT OF $2,500 ON CITIGROUP GLOBAL MARKETS LIMITED FOR LATE NOTIFICATION TO THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ["SGX-ST"] OF CHANGES IN SUBSTANTIAL SHAREHOLDINGS

1     On 13 August 2009, Citigroup Global Markets Limited ["CGML"] paid a composition amount of $2,500 for contravening section 137 of the Securities and Futures Act ["SFA"] which requires substantial shareholders of listed companies to notify the securities exchange of a change in shareholdings.

2     CGML was late in notifying SGX-ST of its deemed shareholding changes in Banyan Tree Holdings Ltd ["Banyan Tree"] which took place on 24 November 2008 and 11 March 2009.  CGML was also late in notifying Banyan Tree of its deemed shareholding changes.  As a result, Banyan Tree was unable to disseminate the information to the market as required under Rule 704(3) of the SGX Listing Manual.

Substantial shareholders are required to notify the securities exchange of changes in their shareholdings in a timely manner. This is necessary for the proper functioning of a fair, efficient and transparent market.