LONDON - Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol “TFG”.

In this monthly update, unless otherwise stated, we report on the consolidated business incorporating TFG and Tetragon Financial Group Master Fund Limited. (1)

Net Asset Value Estimates as of August 31, 2009 (Amounts provided are unaudited and subject to change) (in millions except per share data) Estimated Fair Value of Investments: $ 564.5 Cash and Cash Equivalents: $ 139.4 Net Other Assets/ (Liabilities): $ 3.8 Estimated Net Asset Value: $ 707.7 TFG Shares Outstanding: 129.7 Net Asset Value per Share: (2)(3) $ 5.61 (1) TFG invests substantially all its capital through a master fund, Tetragon Financial Group Master Fund Limited (”TFGMF”) in which it holds a 100.0% share. (2) Excludes 3.50 million shares held in treasury. (3) NAV per share month-on-month movement reflects an increase of $0.18 per share earned through TFG operations and a decrease of $0.01 per share associated with the issuance of shares pursuant to TFG’s Optional Stock Dividend Plan on August 24,2009. Portfolio Composition Portfolio Held by Tetragon Financial Group Master Fund Limited (unless otherwise stated) As of August 31, 2009 Report Date TFG Share TFG group TFG group No. of Price ($) Market Cap Net Assets Closed ($MM)(1) ($MM) CLO Transa ctions 31 August 2009 $1.44 $186.8 $707.7 61(2) Capital Allocation by Risk Investment Investment Overall Asset Class Capital - Fair Amortized Leverage Allocation Value Cost B/Fwd (5) ($MM)(3) ($MM)(4) Broadly Syndicated Senior Secured Loans: US 60.9% $344.0 $658.8 Broadly Syndicated Senior Secured Loans: Europe 15.5% $87.5 $203.5 Middle Market Senior Secured Loans: US 23.6% $133.0 $171.8 CDOs Squared: US 0.0% $0.0 $0.0 ABS and Structured Finance: US 0.0% $0.0 $0.0 Total 100.0% $564.5 $1,034.1 0.80 Geographic Allocation USA Europe Asia Total by Asset Class Pacific Broadly Syndicated Senior Secured Loans 79.7% 20.3% 0.0% 100.0% Middle Market Senior Secured Loans 100.0% 0.0% 0.0% 100.0% CDOs Squared 0.0% 0.0% 0.0% 0.0% ABS and Structured Finance 0.0% 0.0% 0.0% 0.0% 84.5% 15.5% 0.0% 100.0% Top 15 Underlying Bank Loan Credits Bank Loan Exposure (6) Community Health 0.89% HCA Inc 0.85% TXU Corp 0.84% Georgia Pacific Corp 0.75% Univision Communications 0.74% Cablevision Systems Corp 0.62% SunGard Data Systems Inc 0.61% First Data Corp 0.59% Aramark Corp 0.58% Idearc 0.57% Nielsen Company 0.53% Calpine Corp 0.53% Celanese US Holdings LLC 0.53% Mylan Laboratories 0.51% Ineos Group Plc 0.49% EUR-USD FX: 1.43 (1) Calculated using TFG shares outstanding and month end exchange price. (2) Excludes CDO-squared and ABS CDO transactions which were written off in October 2007. TFG continues to hold the economic rights to 4 of these written-off transactions. (3) Equivalent to Investment in Securities at Fair Value in the US GAAP Financial Statements. (4) Investments at Amortized Cost less interest accrued since last payment date. Internal Rate of Return (IRR) x Amortized Cost B/Fwd determines CDO income. (5) Equals CDO Amortized Cost BFwd / Book Value. (6) Calculated as a percentage of total corporate loan assets that TFG has exposure to based on its equity-based pro-rata share of each CLO’s total portfolio (net of any single name CDS hedges held against that credit). Expected Upcoming Events Date September 2009 Monthly Report October 16, 2009 (approx) Q3 Financial Results October 23, 2009 Q3 Ex-Dividend Date October 23, 2009 Quarterly Investor Call October 23, 2009 Q3 Record Date October 27, 2009 October 2009 Monthly Report November 17, 2009 (approx) Q3 Dividend Payment Date November 18, 2009

This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the “Securities Act”), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under applicable law or exempt from registration. TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act (”FMSA”) as a collective investment scheme from a designated country. This release constitutes regulated information (”gereglementeerde informatie”) within the meaning of Section 1:1 of the FMSA.

For further information, please contact: TFG: David Wishnow/Yuko Thomas Investor Relations ir@tetragoninv.com Press Inquiries: Finsbury Charles Chichester/Talia Druker/Rollo Head +44-20-7251-3801

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Source: Tetragon Financial Group Limited

For further information, please contact: TFG: David Wishnow/Yuko Thomas, Investor Relations, ir at tetragoninv.com; Press Inquiries: Finsbury, Charles Chichester/Talia Druker/Rollo Head, +44-20-7251-3801