Exhibit
99.1
 News Release
 Titanium Asset Management Corp. Reports First Quarter 2009 Results
   
    
    Revenues were $4,896,000 for the first quarter of 2009, a 120% increase over the same
period last year.
    
    Managed and fee paying assets up from $8,379.4 million to $8,398.0 million.
    
    AUM up marginally from $7,572.2 million to $7,573.2 million.
    
    Net loss of $(1,541,000), or ($0.08) per diluted common share, compared to $4,000, or
$0.00 per diluted common share, for the first quarter of 2008.
      Titanium Asset Management Corp.Nigel Wightman, Chairman and CEO
    
    +44 20 7822 1881 or+44 7789 277849Seymour Pierce LtdJonathan Wright
    
    +44 20 7107 8000Penrose FinancialGay Collins/Elisha Vincent
    
    +44 20 7756 7882 ortitanium@penrose.co.uk
    
    +44 7798 626282
 Titanium Asset Management Corp. Reports First Quarter 2009 Results




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##### 



Assets Under Management
  Managed
    
    DistributedAssets
    
    Assets(in millions)Balance at December 31, 2008
    
    $
    7,573.2
    
    
    $
    806.2Net assets won/lost
    
    
    50.1
    
    
    
    2.7Market effect
    
    
    (51.1
    )
    
    
    16.9Balance at March 31, 2009
    
    $
    7,572.2
    
    
    $
    825.8
     March 31, 2009
    
    December 31, 2008(in millions)
    
    % of total
    
    (in millions)
    
    % of totalU.S. fixed income
    
    $
    6,795.0
    
    
    
    89.7
    %
    
    $
    6,674.8
    
    
    
    88.2
    %U.S. equity
    
    
    758.5
    
    
    
    10.0
    %
    
    
    874.6
    
    
    
    11.5
    %International equity
    
    
    18.7
    
    
    
    0.3
    %
    
    
    23.8
    
    
    
    0.3
    %Balance at end of period
    
    $
    7,572.2
    
    
    
    100.0
    %
    
    $
    7,573.2
    
    
    
    100.0
    %
  March 31, 2009
    
    December 31, 2008(in millions)
    
    % of total
    
    (in millions)
    
    % of totalInstitutional  Retirement plans
    
    $
    3,498.9
    
    
    
    46.2
    %
    
    $
    3,633.3
    
    
    
    48.0
    %Institutional  Other
    
    
    2,359.1
    
    
    
    31.2
    %
    
    
    2,197.3
    
    
    
    29.0
    %Retail  Broker/dealer accounts
    
    
    968.9
    
    
    
    12.8
    %
    
    
    948.6
    
    
    
    12.5
    %Retail  Other
    
    
    745.3
    
    
    
    9.8
    %
    
    
    794.0
    
    
    
    10.5
    %Balance at end of period
    
    $
    7,572.2
    
    
    
    100.0
    %
    
    $
    7,573.2
    
    
    
    100.0
    %




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##### 



Operating Results




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##### 



Forward-looking Statements
   www.sec.gov www.ti-am.com




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##### 



Titanium Asset Management Corp.
Condensed Consolidated Balance Sheets
 March 31, 2009
    
    December 31, 2008(unaudited)AssetsCurrent assetsCash and cash equivalents
    
    $
    8,212,000
    
    
    $
    18,753,000Securities available for sale
    
    
    12,209,000
    
    
    
    10,683,000Accounts receivable
    
    
    3,727,000
    
    
    
    4,041,000Other current assets
    
    
    1,441,000
    
    
    
    1,420,000Total current assets
    
    
    25,589,000
    
    
    
    34,897,000Securities available for sale
    
    
    587,000
    
    
    
    672,000Property and equipment, net
    
    
    501,000
    
    
    
    456,000Goodwill
    
    
    32,731,000
    
    
    
    32,757,000Intangible assets, net
    
    
    31,263,000
    
    
    
    32,206,000Deferred income taxes
    
    
    4,883,000
    
    
    
    4,202,000Total assets
    
    $
    95,554,000
    
    
    $
    105,190,000Liabilities and Stockholders EquityCurrent liabilitiesAccounts payable
    
    $
    448,000
    
    
    $
    663,000Acquisition payments due
    
    
    939,000
    
    
    
    8,145,000Other current liabilities
    
    
    1,755,000
    
    
    
    1,789,000Total current liabilities
    
    
    3,142,000
    
    
    
    10,597,000Acquisition payments due
    
    
    960,000
    
    
    
    1,889,000Total liabilities
    
    
    4,102,000
    
    
    
    12,486,000Commitments and contingenciesStockholders equityCommon stock, $0.0001 par value; 54,000,000 shares
authorized; 20,509,502 and 20,464,002 shares issued
and outstanding at March 31, 2009 and December 31,
2008, respectively
    
    
    2,000
    
    
    
    2,000Restricted common stock, $0.0001 par value; 720,000
shares authorized; 612,716 issued and outstanding at
March 31, 2009 and December 31, 2008
    
    
    
    
    
    
    Preferred stock, $0.0001 par value; 1,000,000 shares
authorized; none issued
    
    
    
    
    
    
    Additional paid-in capital
    
    
    99,560,000
    
    
    
    99,462,000Accumulated deficit
    
    
    (8,138,000
    )
    
    
    (6,597,000
    )Other comprehensive income (loss)
    
    
    28,000
    
    
    
    (163,000
    )Total stockholders equity
    
    
    91,452,000
    
    
    
    92,704,000Total liabilities and stockholders equity
    
    $
    95,554,000
    
    
    $
    105,190,000




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##### 



Titanium Asset Management Corp.
Condensed Consolidated Statement of Operations
(unaudited)
 Three Months Ended
    
    Three Months EndedMarch 31, 2009
    
    March 31, 2008Fee income
    
    $
    4,896,000
    
    
    $
    2,220,000Operating expenses:Administrative
    
    
    6,017,000
    
    
    
    1,893,000Amortization of intangible assets
    
    
    943,000
    
    
    
    809,000Total operating expenses
    
    
    6,960,000
    
    
    
    2,702,000Operating loss
    
    
    (2,064,000
    )
    
    
    (482,000
    )Other incomeInterest income
    
    
    120,000
    
    
    
    496,000Interest expense
    
    
    (14,000
    )
    
    
    Recognized loss on investment in commingled fund
    
    
    (381,000
    )
    
    
    Income (loss) before taxes
    
    
    (2,339,000
    )
    
    
    14,000Income tax expense (benefit)
    
    
    (798,000
    )
    
    
    10,000Net income (loss)
    
    $
    (1,541,000
    )
    
    $
    4,000Earnings (loss) per shareBasic
    
    $
    (0.08
    )
    
    $
    Diluted
    
    $
    (0.08
    )
    
    $
    Weighted average number of common shares outstanding:Basic
    
    
    20,546,491
    
    
    
    20,451,501Diluted
    
    
    20,546,491
    
    
    
    26,267,104




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##### 



Titanium Asset Management Corp.
Condensed Consolidated Statement of Cash Flows
(unaudited)
 Three Months ended
    
    Three Months endedMarch 31, 2009
    
    March 31, 2008Cash flows from operating activitiesNet income (loss)
    
    $
    (1,541,000
    )
    
    $
    4,000Adjustments to reconcile net income (loss) to net cash provided
by (used in) operating activities:Depreciation and amortization
    
    
    972,000
    
    
    
    812,000Noncash share compensation
    
    
    98,000
    
    
    
    Accretion of acquisition payments
    
    
    10,000
    
    
    
    Recognized loss on investment
    
    
    381,000
    
    
    
    Deferred income taxes
    
    
    (798,000
    )
    
    
    (59,000
    )Changes in assets and liabilities:Decrease in accounts receivable
    
    
    403,000
    
    
    
    82,000Increase in other current assets
    
    
    (24,000
    )
    
    
    (256,000
    )Decrease in accounts payable
    
    
    (221,000
    )
    
    
    (70,000
    )Increase in other current liabilities
    
    
    (63,000
    )
    
    
    656,000Net cash provided by (used in) operating activities
    
    
    (783,000
    )
    
    
    1,169,000Cash flows from investing activitiesPurchases of property and equipment
    
    
    (93,000
    )
    
    
    Cash and cash equivalents held in (released from) trust
    
    
    
    
    
    
    55,587,000Net purchases of short-term securities available for sale
    
    
    (1,514,000
    )
    
    
    Cash paid for acquisition of subsidiaries, net of cash acquired
    
    
    (6,000
    )
    
    
    (31,226,000
    )Net cash provided by (used in) investing activities
    
    
    (1,613,000
    )
    
    
    24,361,000Cash flows from financing activitiesPayment of deferred acquisition payments
    
    
    (8,145,000
    )
    
    
    Net increase (decrease) in cash and cash equivalents
    
    
    (10,541,000
    )
    
    
    25,530,000Cash and cash equivalents:Beginning
    
    
    18,753,000
    
    
    
    19,388,000Ending
    
    $
    8,212,000
    
    
    $
    44,918,000Supplemental disclosure of cash flow informationIncome taxes paid
    
    $
    
    
    
    $
    598,000Supplemental disclosure of non-cash investing and financing activitiesPaid-in
capital attributed to common stock repurchase rights not executed
    
    $
    
    
    
    $
    55,587,000Payable for common stock repurchases
    
    $
    
    
    
    $
    12,017,000Payments due in connection with acquisitions
    
    $
    
    
    
    $
    1,903,000