Tetragon Financial Group Limited (TFG) - Monthly Update For March 2010

LONDON, April 29, 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 March 31, 2010

(Amounts provided are unaudited and subject to change)

                                          (in millions except per share data)
    Estimated Fair Value of Investments:    $755.7
    Cash and Cash Equivalents:              $172.6
    Net Other Assets/ (Liabilities):        $(60.9)
    Estimated Net Asset Value:              $867.4
    TFG Shares Outstanding:                  130.3
    Net Asset Value per Share: (2)           $7.02

(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 6.66 million shares held in treasury.

                              Portfolio Composition

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

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

    31 March 2010   $4.50   $586.2  $867.4              68(2)

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

    Broadly Syndicated Senior Secured Loans: US         74.2%      $561.0
    Broadly Syndicated Senior Secured Loans: Europe      7.4%       $55.6
    Middle Market Senior Secured Loans: US              18.4%      $139.0
    CDOs Squared: US                                     0.0%        $0.0
    ABS and Structured Finance: US                       0.0%        $0.0

               Total                                   100.0%      $755.7

    Geographic Allocation by Asset Class       USA    Europe    Asia   Total
                                                               Pacific

    Broadly Syndicated Senior Secured Loans   91.0%    9.0%     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%

                                              92.6%    7.4%     0.0%   100.0%

    Top 15 Underlying Bank Loan Credits                     Bank Loan
                                                            Exposure
                                                               (5)

    Community Health                                          0.96%
    TXU Corp                                                  0.84%
    HCA Inc                                                   0.84%
    Univision Communications                                  0.84%
    Georgia Pacific Corp                                      0.78%
    First Data Corp                                           0.71%
    Charter Communications                                    0.70%
    Aramark Corp                                              0.69%
    Cablevision Systems Corp                                  0.67%
    Calpine Corp                                              0.64%
    SunGard Data Systems Inc                                  0.63%
    Celanese US Holdings LLC                                  0.60%
    Mylan Laboratories                                        0.60%
    Sabre Holdings Corp                                       0.59%
    Health Management Associates                              0.58%

    EUR-USD FX: 1.35
    (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 March 2010

    Expected Upcoming Events                     Date
    Q1 Record Date                               May 03, 2010
    April 2010 Monthly Report                    May 19, 2010 (approx)
    Q1 Dividend Payment Date                     May 26, 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.

    For further information, please contact:
    TFG:                           Press Inquiries:

    David Wishnow/Yuko Thomas      Finsbury
    Investor Relations             Charles Chichester/Talia Druker/Rollo Head
    ir@tetragoninv.com             +44-(0)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-(0)20-7251-3801