Tetragon Financial Group Limited (TFG) Monthly Update For August 2010

LONDON, September 16, 2010 - 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, 2010

(Amounts provided are unaudited and subject to change)

                                          (in millions except per share data)
    Estimated Fair Value of Investments:  $774.4
    Cash and Cash Equivalents:            $179.2
    Net Other Assets/ (Liabilities):      $(10.4)
    Estimated Net Asset Value:            $943.2
    TFG Shares Outstanding:               130.9
    Net Asset Value per Share: ([2])      $7.76

                              Portfolio Composition
         Portfolio Held by Tetragon Financial Group Master Fund Limited
                            (unless otherwise stated)
                              As of August 31, 2010

    Report Date  TFG Share  TFG group    TFG group      No. of Closed CLO
                     Price  Market Cap   Net Assets        Transactions
                      ($)   ($MM)(1)     ($MM)
    31 August 2010   $4.22     $552.3       $943.2             68(2)

    Capital Allocation by Asset Class      Risk Capital     Investment
                                             Allocation   - Fair Value
                                                            ($MM)(3)(4)                                                                                                                                                 

    Broadly Syndicated Senior Secured
    Loans: US                                       74.2%        $575.0
    Broadly Syndicated Senior Secured
    Loans: Europe                                    7.8%         $60.5
    Middle Market Senior Secured
    Loans: US                                       17.9%        $139.0
    CDOs Squared: US                                 0.0%          $0.0
    ABS and Structured Finance: US                   0.0%          $0.0
    Total                                          100.0%        $774.4

    Geographic Allocation by Asset Class    USA      Europe     Asia   Total
                                                             Pacific

    Broadly Syndicated Senior Secured
    Loans                                  90.5%       9.5%     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%
                                            92.2%       7.8%    0.0%   100.0%
    Top 15 Underlying Bank Loan Credits                Bank Loan Exposure (5)

    Community Health                                             0.96%
    Charter Communications                                       0.91%
    TXU Corp                                                     0.87%
    Univision Communications                                     0.84%
    HCA Inc                                                      0.78%
    Georgia Pacific Corp                                         0.77%
    First Data Corp                                              0.72%
    SunGard Data Systems Inc                                     0.67%
    Aramark Corp                                                 0.66%
    Cablevision Systems Corp                                     0.65%
    Sabre Holdings Corp                                          0.65%
    Calpine Corp                                                 0.61%
    Celanese US Holdings LLC                                     0.61%
    Las Vegas Sands                                              0.60%
    Nielsen Company                                              0.59%

EUR-USD FX: 1.27

(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 3 of these
written-off transactions.

(3) Excludes TFG's investment in LCM Asset Management LLC.

(4) Equivalent to Investment in Securities at Fair Value in the US
GAAP Financial Statements.

(5) Includes par amount of loans held directly by TFG and also loan
exposures via TFG's investments in CLOs. With respect to CLO investments,
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. All calculations are net of any single name CDS hedges held
against that credit.

                     Tetragon Financial Group Limited (TFG)

                         Monthly Update For August 2010

    Expected Upcoming Events                     Date
    September Monthly Report                     October 29, 2010
    Q3 Financial Results                         October 29, 2010
    Q3 Ex-Dividend Date                          November 1, 2010
    Q3 Dividend Record Date                      November 3, 2010
    Quarterly Investor Call                      November 5, 2010
    October 2010 Monthly Report                  November 18, 2010
    Q3 Dividend Payment Date                     November 24, 2010

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.

([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 9.4 million shares held in treasury.

    For further information, please contact:
    TFG:
    David Wishnow/Yuko Thomas
    Investor Relations
    ir@tetragoninv.com

    Press Inquiries:
    Citigate Dewe Rogerson
    Michael Berkeley/Justin
    Griffiths/Clare Simonds
    tetragon@citigatedr.co.uk

PRN NLD

For further information, please contact: TFG: David Wishnow/Yuko Thomas, Investor Relations, ir at tetragoninv.com; Press Inquiries: Citigate Dewe Rogerson, Michael Berkeley/Justin Griffiths/Clare Simonds, tetragon at citigatedr.co.uk