Tetragon Financial Group Limited (TFG) Monthly Update for February 2010

LONDON, March 17, 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 February 28, 2010
    (Amounts provided are unaudited and subject to change)

                                          (in millions except per share data)
    Estimated Fair Value of Investments:  $706.9
    Cash and Cash Equivalents:            $162.9
    Net Other Assets/ (Liabilities):      $(12.8)
    Estimated Net Asset Value:            $857.0
    TFG Shares Outstanding:                130.1
    Net Asset Value per Share: (2)         $6.91

(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 6.01 million shares held in treasury.

    Portfolio Composition

         Portfolio Held by Tetragon Financial Group Master Fund Limited
                            (unless otherwise stated)
                             As of February 28, 2010

    Report Date             TFG Share   TFG group  TFG      No. of Closed CLO
                             Price ($)    Market   group       Transactions
                                           Cap     Net
                                         ($MM)(1)  Assets
                                                   ($MM)

    28 February 2010         $3.85        $500.7   $857.0        68(2)

    Capital Allocation            Risk    Investment  Investment   Overall
    by Asset Class               Capital     - Fair        -      Leverage(6)
                               Allocation    Value     Amortized
                                          ($MM)(3)(4) Cost B/Fwd
                                                       ($MM)(5)

    Broadly Syndicated Senior
    Secured Loans: US              72.9%     $515.1      $745.6
    Broadly Syndicated Senior
    Secured Loans: Europe           6.3%      $44.7      $199.0
    Middle Market Senior
    Secured Loans: US              20.7%     $146.4      $183.0
    CDOs Squared: US                0.0%       $0.0        $0.0
    ABS and Structured Finance: US  0.0%       $0.0        $0.0

                 Total            100.0%     $706.2    $1,127.6       0.82

    Geographic Allocation           USA       Europe       Asia       Total
    by Asset Class                                        Pacific

    Broadly Syndicated
    Senior Secured Loans           92.0%       8.0%        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%

                                   93.7%       6.3%        0.0%      100.0%

    Top 15 Underlying Bank Loan Credits                           Bank Loan
                                                                   Exposure
                                                                     (7)

    Community Health                                                 0.94%
    TXU Corp                                                         0.86%
    HCA Inc                                                          0.83%
    Univision Communications                                         0.81%
    Georgia Pacific Corp                                             0.78%
    Aramark Corp                                                     0.69%
    Cablevision Systems Corp                                         0.67%
    First Data Corp                                                  0.67%
    SunGard Data Systems Inc                                         0.63%
    Calpine Corp                                                     0.60%
    Celanese US Holdings LLC                                         0.58%
    Mylan Laboratories                                               0.58%
    Sabre Holdings Corp                                              0.57%
    Nielsen Company                                                  0.56%
    Huntsman ICI                                                     0.55%

EUR-USD FX: 1.36

(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) Investments at Amortized Cost less interest accrued since last
payment date. Internal Rate of Return (IRR) x Amortized Cost B/Fwd
determines CDO income.

(6) Equals CDO Amortized Cost BFwd / Book Value.

(7) 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
    Q4 dividend payment date                     March 25, 2010
    March 2010 Monthly Report                    April 19, 2010 (approx)

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

PRN NLD

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