Information about the Reference Assets and the Delivery Assets

The value of Alpha RESULTS is linked to the performance of the Reference Assets over the Term. After Maturity, the Issuer is required to deliver to Investors the Final Value per Unit multiplied by the number of Units held by the Investor (less any Costs and Taxes). The Issuer will notify the Investor in the Maturity Notice of any Costs and Taxes (including GST) that are payable. At the date of this PDS the Issuer does not anticipate any Costs and Taxes are payable.

The Issuer will deliver the Total Value to the Investor in the form of the Delivery Assets on the Settlement Date if:

• an Investor does not elect the Agency Sale Arrangement options on the Maturity Notice; or
• the Issuer does not receive an Investor's Maturity Notice by the Closing Time.

This section of the PDS provides some further information about the Reference Assets and the Delivery Assets.

AGL Energy Limited
AMP Limited
Australia and New Zealand Banking Group Limited
BHP Billiton Limited
Bluescope Steel Limited
Brambles Industries Limited
GPT Group
Incitec Pivot Limited
Lihir Gold Limited
Macquarie Group Limited
National Australian Bank Limited
Newcrest Mining Limited
Origin Energy Limited
OneSteel Limited
Qantas Airways Limited
QBE Insurance Group Limited
Rio Tinto Limited
Stockland
Santos Limited
Suncorp-Metway Limited
Telstra Corporation Limited
Westpac Banking Corporation
Westfield Group
Wesfarmers Limited
Woolworths Limited
Woodside Petroleum Limited
iShares FTSE/Xinhua A50 China Tracker

Information on the Reference Assets

Information (including historical data and trading information) about the Reference Assets and/or the Delivery Assets can be obtained from a variety of sources including the ASX, the issuers of the Reference Assets and/ or Delivery Assets themselves, brokers and investment advisers. Information may also be found on the websites of the issuers of the Reference Assets and/or Delivery Assets, the ASX website and related sites. Citi takes no responsibility and accepts no liability for, and makes no representation or warranty (whether express or implied) as to the accuracy or completeness of any information obtained by an Investor about the Reference Assets and/or Delivery Assets. Investors should make their own inquiries and where appropriate, obtain advice in relation to any investment decisions.

Information on the Reference Assets will also be provided on the website of the Issuer at www.citifirst.com.au.

AGL Energy Limited

AGL Energy Limited ("AGK") controls Australia's largest natural gas and electricity and dual fuel customer base supplying over 3.2 million customer accounts. This customer base is serviced by a substantial integrated generation portfolio with diversity across geography, fuel type and generation mix. In addition AGK has substantial long term gas supply contracts, a growing portfolio of upstream coal seam gas reserves and utilises the derivative markets. AGK also owns and operates the largest renewable generation portfolio with a focus on hydro and wind power. For more information on the company, please visit the company's website www.agl.com.au. AGK is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the AGK website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of AGK.

AMP Limited

AMP Limited ("AMP") is a key Australasian wealth manager and life insurer. AMP's core businesses include AMP Financial Services ("AFS") and AMP Capital Investors ("AMPCI"). AFS's core activities include financial planning advice, retirement savings and income protection. AMPCI is a specialist investment manager with over $117 billion in assets under management. For more information on the company, please visit the company's website www.amp.com.au. AMP is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the AMP website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of AMP.

Australia and New Zealand Banking Group Limited

Australia and New Zealand Banking Group Limited ("ANZ") is a major Australian-based bank operating a retail and business bank in Australia, New Zealand, Asia and throughout the South Pacific. Australian operations make up the largest part of ANZ's business including commercial, retail banking and funds management. For more information on the company, please visit the company's website www.anz.com. ANZ is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the ANZ website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of ANZ.

BHP Billiton Limited

BHP Billiton Limited (BHP) is the world's largest diversified resources group with a global portfolio of high quality assets. Core activities comprise of production and distribution of minerals, mineral products and petroleum. For more information on the company, please visit the company's website www.bhpbilliton.com. BHP is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the BHP website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of BHP.

Bluescope Steel Limited

Bluescope Steel Limited (BSL) is a leading steel manufacturer in Australia and New Zealand and supplies flat steel products to industries such as building, construction and manufacturing. The company has clients worldwide and supplies a significant percentage of flat steel products in Australia and New Zealand. For more information on the company, including information about its historical share price performance, please visit the company’s website www.bluescopesteel.com. BSL is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the BSL website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of BSL.

Brambles Industries Limited

Brambles Industries Limited (BXB) is a leading provider of support services such as container pooling and information management through its two businesses: Recall and CHEP. The company has a secondary listing on the London Stock Exchange and a primary listing on the Australian Stock Exchange. For more information on the company, including information about its historical share price performance, please visit the company’s website www.brambles.com. BXB is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the BXB website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of BXB.

GPT Group

GPT Group (GPT) is one of Australia's largest diversified property groups and is involved in the active ownership, funds management and selective development of real estate. GPT Group is listed as a stapled security on the Australian Stock Exchange, comprising a share in the management company and a unit in the trust. For more information on the company, please visit the company's website www.gpt.com.au. GPT is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the GPT website including pricing and company information. Citigroup makes no recommendation, representation or assurance about the performance or prospects of GPT.

Incitec Pivot Limited

Incitec Pivot Limited (IPL) is an integrated fertilizer company, involved in the manufacture and distribution of industrial chemicals. IPL covers Australia’s Eastern states and was formed in 2003, following a merger of Incitec Fertiliser and Pivot Group. For more information on the company, including information about its historical share price performance, please visit the company’s website www.incitecpivot.com.au. IPL is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the IPL website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of IPL.

Lihir Gold Limited

Lihir Gold Limited (LGL) is a leading gold mining, development and exploration company with operations in Papua New Guinea, West Africa and Australia. The company’s flagship operation is one of the world’s largest gold mines and processing facilities, containing resource of some 40Moz Au, located on the island of Lihir in Papua New Guinea. LGL merged with Equigold NL in June 2008 establishing itself as a pure gold group with a diversified portfolio of producing mines. For more information on the company, including information about its historical share price performance, please visit the company’s website www.lglgold.com. LGL is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the LGL website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of LGL.

Macquarie Group Limited

Macquarie Group Limited (MQG) is a diversified international provider of banking, financial, advisory and investment services. Established in 1969, Macquarie has grown substantially and has reported successive years of profits in the last decade. For more information on the company, including information about its historical share price performance, please visit the company’s website www.macquarie.com.au. MQG is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the MQG website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of MQG.

National Australian Bank Limited

National Australia Bank (NAB) is one of the largest financial services groups in Australia, providing a comprehensive and integrated range of banking and financial services including wealth management throughout Australia, New Zealand, and parts of the UK. Australian banking operations dominate and represent 60% of group assets. For more information on the company, including information about its historical share price performance, pricing and company information, Investors can visit the company's website www.nab.com.au. NAB is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Citi makes no recommendation, representation or assurance about the performance or prospects of NAB.

Newcrest Mining Limited

Newcrest Mining Limited (NCM) is a gold and copper producer with main operations in Australia and Indonesia, and also has other projects in Papua New Guinea and Fiji. For more information on the company, including information about its historical share price performance, please visit the company’s website www.newcrest.com.au. NCM is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the NCM website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of NCM.

Origin Energy Limited

Origin Energy Limited (ORG) is a vertically integrated energy company, with its core interests in exploration and production, power generation, and energy and retailing. ORG has substantial interests in upstream gas, particularly through its 50% interest in the APLNG JV with ConocoPhillips. For more information on the company, please visit the company's website www.originenergy.com.au. ORG is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the Origin Energy Limited website including pricing and company information. Citigroup makes no recommendation, representation or assurance about the performance or prospects of ORG.

OneSteel Limited

OneSteel Limited (OST) is a manufacturer of steel long products. OST has an integrated operation starting from mining, steel manufacture through to steel and metal products distribution. For more information on the company, including information about its historical share price performance, please visit the company’s website www.onesteel.com. OST is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the OST website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of OST.

Qantas Airways Limited

Qantas Airways Limited (QAN) operates domestic and international airlines and support services. The Qantas Group operates a portfolio of airline-related businesses including Qantas Holidays and the Qantas Frequent Flyer Program. For more information on the company, including information about its historical share price performance, please visit the company’s website www.qantas.com.au. QAN is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the QAN website, including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of QAN.

QBE Insurance Group Limited

QBE Insurance Group Limited (QBE) is Australia's largest international insurance and reinsurance group and operates in 45 countries. Around 40% of its gross written premium is derived from the Americas, 20% from Lloyds, 20% from Europe and the remainder from Australia and the Asia- Pacific. For more information on the company, please visit the company's website www.qbe.com.au. QBE is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the QBE website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of QBE.

Rio Tinto Limited

Rio Tinto Limited (RIO) is in the business of funding, mining and processing mineral resources. The company holds a portfolio of interests in aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals and iron ore. RIO's activities span the world but are mainly represented in Australia and North America with other significant businesses in South America, Asia, Europe and Southern Africa. For more information on the company, please visit the company's website www.riotinto.com. RIO is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the RIO website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of RIO.

Stockland

Stockland (SGP) is a property development and investment group. It holds a diversified portfolio of retail, commercial, residential, industrial and retirement villages across Australia and New Zealand. For more information on the company, including information about its historical share price performance, please visit the company’s website www.stockland.com.au. SGP is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the SGP website including pricing and company

Santos Limited

Santos Limited ("STO") is an Australian based oil & gas exploration & production company that produces natural gas, liquefied natural gas, crude oil, ethane and liquefied petroleum gas both for domestic and export markets. For more information on the company, please visit the company's website www.santos.com. STO is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the STO website including pricing and company information.
Citi makes no recommendation, representation or assurance about the performance or prospects of STO. Citi makes no recommendation, representation or assurance about the performance or prospects of SGP.

Suncorp-Metway Limited

Suncorp-Metway Limited ("SUN") is a Queensland-based financial services conglomerate offering general insurance, retail and business banking, and wealth management services. For more information on the company, please visit the company's website www.suncorp.com.au. SUN is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the SUN website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of SUN.

Telstra Corporation Limited

Telstra Corporation Limited (TLS) is Australia's leading telecommunications and information services company. The principal activities are provision of telephone lines; national local and long distance, and international telephone calls, mobile telecommunications, data, internet and on-line, wholesale, telephone directories and pay TV. For more information on the company, please visit the company's website www.telstra.com.au. TLS is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the TLS website including pricing and company information. Citigroup makes no recommendation, representation or assurance about the performance or prospects of TLS.

Westpac Banking Corporation

Westpac Banking Corporation (WBC) is Australia's oldest bank operating a significant banking franchise in Australia and New Zealand with balanced exposures to retail, corporate and institutional sectors. Aggressive expansion via acquisition in the wealth management area has complemented the banking activities transforming WBC into a solid financial services house. Following the acquisition of St George Bank, WBC is now Australia's leading bank by market capitalisation and market share in key areas. For more information on the company, please visit the company's website www.westpac.com.au. WBC is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the WBC website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of WBC.

Westfield Group

The Westfield Group ("WDC") is an internally managed, vertically integrated, shopping centre group undertaking ownership, development and funds/asset management worldwide. As a result of the merger in July 2004, Westfield comprises three entities: Westfield Holdings Limited, Westfield Trust and Westfield America Trust and is the largest retail property group in the world by market capitalisation. Westfield is a subsector specific Australian listed property trust, or A-REIT, offering exposure solely to the super regional shopping centre markets in Australia, New Zealand, USA and UK. For more information on the company, please visit the company's website http://westfield.com.au. WDC is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the WDC website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of WDC.

Wesfarmers Limited

Wesfarmers Limited (WES) is a diversified corporation which operates in a wide range of industries including supermarkets, department stores, hardware, general insurance, coal mining and chemicals. Wesfarmers is one of the largest corporations listed on the Australian Stock Exchange and is the largest Australian retailer by sales revenue. For more information on the company, please visit the company's website www.wesfarmers.com.au. WES is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the WES website including pricing and company information. Citigroup makes no recommendation, representation or assurance about the performance or prospects of WES.

Woolworths Limited

Woolworths Limited ("WOW") is Australia's premier large retailer, with a market share of 35% of the food and liquor retailing market. WOW's primary activities are in supermarkets, liquor stores and discount department stores, consumer electronic stores and bars. The company has substantial operations in New Zealand, contributing 9% of total revenue from supermarket retailing, trading under the Progressive Supermarkets banner. For more information on the company, please visit the company's website www.woolworths.com.au. WOW is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the WOW website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of WOW.

Woodside Petroleum Limited

Woodside Petroleum Limited (WPL) has operations that encompass the production of domestic gas, liquefied natural gas, condensate, crude oil and liquefied petroleum gas in Western Australia. Shell Australia has a substantial ownership stake in WPL. For more information on the company, please visit the company's website www.woodside.com.au. WPL is subject to continuous disclosure obligations and makes regular releases to the ASX that are publicly available. Investors can also obtain more exhaustive information from the WPL website including pricing and company information. Citi makes no recommendation, representation or assurance about the performance or prospects of WPL.

iShares FTSE/Xinhua A50 China Tracker

iShares FTSE/Xinhua A50 China Tracker (2823.HK) seeks investment performance that correspond generally to the price and yield performance of the FTSE/Xinhua China A50 Index. The FTSE/Xinhua China A50 Index is a free float adjusted index comprising the largest 50 "A" Share companies in China. Constituent stocks of the index are listed and traded on the Shenzhen or Shanghai stock exchanges and the index can be used as the basis for OTC derivative products and exchange - traded funds. The stocks comprising the index are screened for liquidity to ensure the index is tradable. For more information on this exchange-traded fund, please visit the iShares website at www.ishares.com.hk. Investors can also obtain more information regarding the underlying index on the FTSE website at www.ftse.com. Citi makes no recommendation, representation or assurance about the performance or prospects of either 2823.HK or the FTSE/Xinhua China A50 Index.

Information on the Delivery Assets

For Series (2009 - A01), (2009 - A02), (a 2010 – 01) & (a 2010 – 02), the Issuer has agreed to deliver the Total Value to the Investor in the form of ordinary shares in Westpac Banking Corporation (which is the Delivery Asset for that Series). The issuer of that Delivery Asset is subject to the continuous disclosure requirements imposed by the ASX and by the Corporations Act. Further information in relation to this Delivery Asset is available above in this section of the PDS.

The identity of (and information regarding) the Delivery Assets for subsequent Series will be specified and provided in a supplementary product disclosure statement available on Alpha's website at www.alpha-invest.com.au if you are an AFSL holder or the Issuer's website at www.citifirst.com.au/ alpha_results.html and the ASX on www.asx.com.au if you are not an AFSL holder.

The performance of Alpha RESULTS and the Final Value per Unit are not affected by the performance of the Delivery Assets over the relevant Term. However, Investors who elect at Maturity to receive the Delivery Assets at Maturity should be aware that following delivery of the Delivery Assets the value of their Delivery Assets will be affected by changes in the price of the Delivery Assets.

Citi makes no recommendation, representation or assurance about the performance or prospects of any of the Delivery Assets.

Westpac Banking Corporation had no involvement in this PDS

References in this PDS to Westpac Banking Corporation are included for the purpose of identification of the shares that comprise the Delivery Assets and the Delivery Parcel for Series (2009 - A01), (2009 - A02), (a 2010 – 01) & (a 2010 – 02). These references are not an express or implied endorsement by Westpac Banking Corporation, or any of its related entities, of Alpha RESULTS.

No member of the Westpac Banking Corporation group of entities has had any involvement in the preparation of any part of this PDS, accepts responsibility for any statement in this PDS, or has been involved in or consented to the issue of this PDS.

Changes to the Delivery Assets or Reference Assets

If an Adjustment Event occurs the Issuer may:

• substitute the Delivery Asset with any other security quoted and trading on the Relevant Exchange; and/or
• substitute a Reference Asset with another security asset quoted and traded on the Relevant Exchange at the discretion of the Issuer.

The Issuer will notify Investors of any such changes and it will carry out the adjustment so as to put both the Investor and the Issuer in substantially the same economic position as if the Adjustment Event had not occurred. If this is not possible then there may be an Early Maturity. Investors should read clause 5 of the Terms to fully understand their rights and obligations if an Adjustment Event occurs.