SEC Follow Up Exhibits Part C SEC_OEA_FCIC_001760-2501

Summary of Citigroup Credit Default Swap Transactions
Top 15 Entities Making Net Bearish Trades Over the Week
November 17, 2008 - November 21, 2008
Top 15 Net Bearish
Entity
Add to Buy
Side
Bearish (Benefit if Probability
of Citigroup Default Increases )
Reduce Sell
Side Total Rank
Bullish (Benefit if Probability
of Citigroup Default Decreases ) Net Bearish Position
Net
Reduce Buy Add to Sell
Bearish
Side
Side Total Rank Total Rank Share CShr
Total -1,957,419,175 -471,388,060 -2,428,807,235 606,530,000 1,822,277,235 2,428,807,235 -660,190,085
Net
Bullish
Rank Note on Daily Activity from Looking at Chart
THE ROYAL BANK OF SCOTLAND PLC -211,900,000 -5,000,000 -216,900,000 3 56,297,500 56,297,500 12 -160,602,500 1 24.3% 24.3% 116 Gigantic buys on Fri.
DEUTSCHE BANK AG -315,000,000 -82,000,000 -397,000,000 1 78,630,000 204,500,000 283,130,000 1 -113,870,000 2 17.2% 41.6% 115 Bullish through Wed, Big buy Thurs. Very big buy Friday.
MAGNETAR -50,000,000 -50,000,000 11 92 -50,000,000 3 7.6% 49.1% 114 Buy on Friday only activity.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. -40,000,000 -40,000,000 13 93 -40,000,000 4 6.1% 55.2% 113 Buy Wed. and Thurs.
GENERAL AMERICAN LIFE INSURANCE COMPANY -27,000,000 -27,000,000 17 94 -27,000,000 5 4.1% 59.3% 112 Buy Friday - only activity.
SOCIETE GENERALE, NEW YORK BRANCH -25,000,000 -25,000,000 19 95 -25,000,000 6 3.8% 63.1% 111 Buy Wed. and Fri.
TRG INFLATION -23,000,000 -23,000,000 20 96 -23,000,000 7 3.5% 66.6% 110 Buy Friday - only activity.
METLIFE INSURANCE COMPANY OF CONNECTICUT -22,000,000 -22,000,000 21 97 -22,000,000 8 3.3% 69.9% 109 Buy Friday - only activity.
JNL -20,000,000 -20,000,000 24 98 -20,000,000 9 3.0% 72.9% 108 Buy Friday - only activity.
KEYBANK NATIONAL ASSOCIATION -20,000,000 -20,000,000 25 99 -20,000,000 10 3.0% 76.0% 107 Buy Thursday - only activity.
GOLDMAN SACHS -160,600,000 -40,000,000 -200,600,000 4 56,500,000 125,000,000 181,500,000 7 -19,100,000 11 2.9% 78.9% 106 Appoximately even through Thurs. Big sell Fri and bigger buy.
FORE CONVERTIBLE MASTER FUND, LTD. -32,800,000 -32,800,000 15 16,400,000 16,400,000 21 -16,400,000 12 2.5% 81.3% 105 Reduce sell side Friday.
DEKA BANK, FRANKFURT -12,560,000 -12,560,000 26 100 -12,560,000 13 1.9% 83.2% 104 Buy Wed. and Thurs.
ES CAPITALIZACAO -10,270,500 -10,270,500 27 101 -10,270,500 14 1.6% 84.8% 103 Buy Thursday - only activity.
FORE MULTI STRATEGY MASTER FUND,LTD. -20,000,000 -20,000,000 23 10,000,000 10,000,000 23 -10,000,000 15 1.5% 86.3% 102 Sell Wed and Thurs. Reduce sell Friday.
DRAFT Page 1 of 1 CONFIDENTIAL