UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-K
 ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) 
OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2008
 OR ( ) TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) 
OF THE SECURITIES EXCHANGE ACT OF 1934
 
 000-30455
 CITIGROUP GLOBAL DIVERSIFIED FUTURES FUND L.P.
 
  New York
    
    13-4015586(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)
 c/o Citigroup Managed Futures LLC
55 East 59th Street  10th FL
New York, New York 10022
 
  (212) 559-2011
 
  Securities registered pursuant to Section 12(b) of the Act: NoneSecurities registered pursuant to Section 12(g) of the Act: Redeemable Units of Limited Partnership Interest(Title of Class)
  Yes



No

X
  Yes



No

X
  Yes

X

No
   Large    accelerated filer
    Accelerated     filer
    Non-accelerated filer X
    Smaller reporting company(Do not check if a smaller reporting company)  Yes



No

X




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PART I
 
 Item 1. Business .
 General Development of Business
 Financial
Statements and Supplementary Data
       2




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3




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Financial Information about Industry Segments Selected Financial
Data
 Narrative Description of Business
     Financial Information About Geographic Areas
 Available Information
 Reports
to Security Holders
 Enforceability
of Civil Liabilities Against Foreign Persons
 Smaller
Reporting Companies
 Item 1A. Risk Factors.
 As a result of leverage, small changes in the price of the Partnerships positions may result
in major losses.
  An investor may lose all of their investment.
  The Partnership will pay substantial fees and expenses regardless of profitability.
  An investors ability to redeem or transfer units is limited.
 4




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Conflicts of interest exist.
  1.
    
    The General Partner and commodity broker are affiliates;2.
    
    Each of the Advisor(s), the commodity broker and their principals and affiliates may
trade in commodity interests for their own accounts; and3.
    
    Smith Barney financial advisors will receive ongoing compensation for providing
services to an investors account.
 Investing in units might not provide the desired diversification of an investors overall
portfolio.
  Past performance is no assurance of future results.
  An investors tax liability may exceed cash distributions.
   New regulation may impact the Partnerships trading.
  Item 2. Properties .
  Item 3. Legal Proceedings.
    Regulatory Matters
  IPO Civil Litigation
   In
Re: Initial Public Offering Securities Litigation en banc.
 Enron-Related Civil Actions
 5




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Enron v. Citigroup, et al. (In re Enron Corp., et
al.),
 In Re:
NewPower holdings Securities Litigation,
 OCM
Opportunities Fund III, L.P., et al. v. Citigroup Inc., et al.; Pacific Investment Management Co.
LLC, et al. v. Citigroup Inc., et al.; AUSA Life Insurance v. Citigroup Inc., et al. and Principal
Global Investors v. Citigroup Inc., et al.
 Newby), Retirement Systems of Alabama v. Merrill Lynch, et al.,
 (Newby, et
al. v. Enron Corp., et al.)
 6




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Ravenswood I, L.L.C., et al. v.
Citigroup, Inc., et al. Newby.
 American National Insurance Co., et al. v. Citigroup Inc.,
et al. Newby.
 Silvercreek Management Inc. v. Salomon Smith Barney, Inc.,
 Public Employees Retirement
Systems of Ohio v. Fastow, et al. Newby.
 Connecticut Resources Recovery Authority v. Lay,
et al., Newby
 Public Utility District
No. 1 of Snohomish County, Washington v. Citigroup, et al. Newby
 Newby.
  7




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Avenue Capital Management II,
L.P., et al. v. J.P. Morgan Chase & Co.,
et al., DK Acquisition, et al. v. J.P. Morgan Chase, et al., Newby Bayerische Landesbank, et al. J.P.
Morgan Chase Bank, et al., Newby,
  Vanguard Balanced Index Fund, et al. v. Citigroup, et al. Newby
  Dynegy Inc.
 (In Re: Dynegy Inc. Securities Litigation)
 8




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WorldCom-Related Litigation
 In Re: WorldCom, Inc. Securities
Litigation.
   In Re: WorldCom, Inc.
Securities Litigation.
 Weinstein, et al. v. Ebbers, et al.,
 9




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Retirement Systems of Alabama, et al. v. J.P. Morgan Chase & Co., et al., Public
Employees Retirement System of Ohio v. Ebbers, et al. New York City
Employees Retirement System v. Ebbers, et al.,
  Sturm, et al. v. Citigroup, et al.,
 In Re: Targets Securities Litigation,
 Global Crossing
 (In Re: Global Crossing, Ltd.
Securities Litigation)
 10




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Adelphia Communications Corporation
  11




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In Re Adelphia Communications Corporation Securities and
Derivative Litigation
 Mutual Funds
    12




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Research Analyst Litigation
   In Re Salomon Analyst Metromedia Litigation.
 In Re Salomon
Analyst AT&T Litigation. In Re Salomon Analyst Level 3 Litigation, In Re Salomon Analyst
XO Litigation In Re Salomon Analyst Williams Litigation,
 California State Teachers Retirement System v. Qwest
Communications International, Inc., et al., State Universities Retirement System of Illinois v.
Qwest Communications International Inc., et al.
  13




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Norman v. Salomon Smith Barney, et al.
 Disher v. Citigroup Global Markets Inc.,
 Supervisory Investigation
  Citigroup Shareholder Litigation
  14




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NASD Settlement
  Auction Rate Securities
  Finn v. Smith
Barney, et al.,
 Hansen Beverage Co. v. Citigroup Inc., et al.,
 In Re Citigroup Auction Rate Securities Litigation,
 Mayor
and City Council of Baltimore, Maryland v. Citigroup Inc., et al., Mayfield v. Citigroup
Inc., et al.,
  15




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Subprime-Mortgage Related Litigation
 In Re American Home Mortgage Securities Litigation.
 In re Citigroup
Inc. Bond Litigation,
 In Re Ambac Financial Group, Inc. Securities Litigation,
 Other Matters
 In Re American Home Mortgage securities
  16




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In Re MAT Five Securities Litigation. In Re MAT Five
Securities Litigation
 Leber v. Citigroup Inc., et al.,
 Leber v. Citigroup, Inc., et al.,
   17




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Item 4. Submission of Matters to a Vote of Security Holders .
  18




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PART II
 Item 5. Market for Registrants Common Equity, Related Security Holder Matters and Issuer
Purchases of Equity Securities .
 (a)
    
    Market Information. The Partnership has issued no stock. There is no
established public market for the Redeemable Units.(b)
    
    Holders. The number of holders of Redeemable Units as of December 31, 2008
was 889.(c)
    
    Dividends. The Partnership did not declare a
distribution in 2008 and 2007. The Partnership does not intend to
declare dividends in the foreseeable future.(d)
    
    Securities Authorized for Issuance under Equity Compensation Plans. None(e)
    
    Performance Graph. Not applicable.(f)
    
    Use of Proceeds. There were no additional sales of Redeemable Units in the
years ended December 31, 2008, 2007 and 2006.
The Redeemable Units were issued in reliance upon applicable exemptions from registration under
Section 4(2) of the Securities Act of 1933, as amended, and Section 506 of Regulation D promulgated
 there under. The Redeemable Units were purchased by accredited investors as described in Regulation D,
as well as to a small number of persons who are non-accredited investors.
 Item 6. Selected Financial Data .
  2008
    
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004Net realized and
unrealized trading
gains (losses) and
investment in
Partnerships net of
brokerage
commissions
(including clearing
fees) of
$2,300,441,
$2,403,264,
$2,661,982,
$2,601,185 and
$3,000,995,
respectively
    
    $
    10,609,901
    
    
    $
    697,570
    
    
    $
    5,785,202
    
    
    $
    4,903,268
    
    
    $
    (1,065,432
    )Total interest income
    
    
    423,076
    
    
    
    1,485,334
    
    
    
    1,687,808
    
    
    
    1,038,297
    
    
    
    493,041$
    11,032,977
    
    
    $
    2,182,904
    
    
    $
    7,473,010
    
    
    $
    5,941,565
    
    
    $
    (572,391
    )Net income (loss)
    
    $
    8,240,318
    
    
    $
    916,481
    
    
    $
    5,677,831
    
    
    $
    4,631,510
    
    
    $
    (1,870,748
    )Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    397.58
    
    
    $
    46.83
    
    
    $
    192.40
    
    
    $
    145.99
    
    
    $
    (49.56
    )Total assets
    
    $
    42,842,879
    
    
    $
    41,097,354
    
    
    $
    46,897,075
    
    
    $
    47,562,480
    
    
    $
    49,765,621
 19




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Item 7. Managements Discussion and Analysis of Financial Condition and Results of
Operations .
 Overview
    
    
    due diligence examinations of the Advisors;
    
    selection, appointment and termination of the Advisors;
    
    negotiation of the Management Agreements; and
    
    monitoring the activity of the Advisors.
   
 Campbell & Company, Inc
   20




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Aspect Capital Limited
    Altis Partners (Jersey) Limited
  Waypoint Capital Management LLC
    Liquidity
   (i)
    
    The Partnership/Funds invests their assets only in commodity
interests that the Advisors believes are traded in sufficient volume to
permit ease of taking and liquidating positions. Sufficient volume, in this context,
refers to a level of liquidity that the Advisor believes will permit it to enter and exit
trades without noticeably moving the market.
 21




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(ii)
    
    An Advisor will not initiate additional positions in any commodity if these positions
would result in aggregate positions requiring a margin of more than 66 2/3% of the
Partnerships net assets allocated to that Advisor.(iii)
    
    The Partnership/Funds may occasionally accept delivery of a commodity. Unless such
delivery is disposed of promptly by retendering the warehouse receipt representing the
delivery to the appropriate clearing house, the physical commodity position is fully
hedged.(iv)
    
    The Partnership/Funds do not employ the trading technique commonly known as
pyramiding, in which the speculator uses unrealized profits on existing positions as
margin for the purchases or sale of additional positions in the same or related
commodities.(v)
    
    The Partnership/Funds does not utilize borrowings except short-term borrowings if the
Partnership/Funds takes delivery of any cash commodities.(vi)
    
    The Advisors may, from time to time, employ trading strategies such as spreads or
straddles on behalf of the Partnership/Funds. The term spread or straddle describes a
commodity futures trading strategy involving the simultaneous buying and selling of
futures contracts on the same commodity but involving different delivery dates or markets
and in which the trader expects to earn a profit from a widening or narrowing of the
difference between the prices of the two contracts.(vii)
    
    The Partnership/Funds will not permit the churning of its commodity trading account.
The term churning refers to the practice of entering and exiting trades with a frequency
unwarranted by legitimate efforts to profit from the trades, driven by the desire to
generate commission income.
    22




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Financial Statements and Supplementary Data
  Capital Resources
    23




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Results of Operations
       24




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Operational Risk
   Operational/Settlement Risk
 25




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Technological Risk
 Legal/Documentation Risk
 Financial Control Risk
 Critical Accounting Policies
 Use of Estimates.
 Statement of Cash Flows.
 Investments.
 Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
  Futures
Contracts.
 Forward Foreign Currency Contracts.
 26




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London Metals Exchange Forward Contracts.
 Options.
 Income Taxes.
   Recent Accounting Pronouncements.
  Item 7A. Quantitative and Qualitative Disclosures About Market Risk .
 Introduction
   27




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Quantifying the Partnerships Trading Value at Risk
      28




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The Partnerships Trading Value at Risk in Different Market Sectors
   December 31, 2008
 Low
    
    
    Average% of Total
    
    
    High
    
    
    Value at
    
    
    Value atMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Risk
    
    
    Risk*Currencies
    
    $
    3,826,450
    
    
    
    3.00
    %
    
    $
    6,459,319
    
    
    $
    1,236,850
    
    
    $
    3,885,456Energy
    
    
    141,270
    
    
    
    0.11
    %
    
    
    1,689,425
    
    
    
    5,000
    
    
    
    547,096Interest Rates U.S.
    
    
    295,938
    
    
    
    0.23
    %
    
    
    1,754,540
    
    
    
    126,604
    
    
    
    919,061Interest Rates Non-U.S.
    
    
    1,650,897
    
    
    
    1.30
    %
    
    
    4,744,697
    
    
    
    631,807
    
    
    
    2,018,452Metals
    
    
    238,724
    
    
    
    0.19
    %
    
    
    1,281,336
    
    
    
    47,826
    
    
    
    360,623Indices
    
    
    1,414,857
    
    
    
    1.11
    %
    
    
    8,820,806
    
    
    
    845,740
    
    
    
    4,393,925Total
    
    $
    7,568,136
    
    
    
    5.94
    %
 
 *
    
    Average of month-end Values at Risk  December 31, 2008
 Average% of Total
    
    
    High
    
    
    Low
    
    
    Value atMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Value at Risk
    
    
    Value at Risk
    
    
    Risk*Currencies
    
    $
    3,017,826
    
    
    
    1.26
    %
    
    $
    7,405,062
    
    
    $
    1,762,375
    
    
    $
    3,652,203Energy
    
    
    1,802,535
    
    
    
    0.75
    %
    
    
    4,744,750
    
    
    
    520,250
    
    
    
    2,336,576Grains
    
    
    549,062
    
    
    
    0.23
    %
    
    
    1,268,423
    
    
    
    84,806
    
    
    
    622,221Interest Rates U.S.
    
    
    1,627,200
    
    
    
    0.68
    %
    
    
    3,458,200
    
    
    
    49,886
    
    
    
    1,299,759Interest Rates Non-U.S.
    
    
    6,748,387
    
    
    
    2.82
    %
    
    
    8,325,577
    
    
    
    1,490,653
    
    
    
    5,019,733Livestock
    
    
    156,600
    
    
    
    0.07
    %
    
    
    283,500
    
    
    
    66,700
    
    
    
    165,771Metals
    
    
    1,975,576
    
    
    
    0.83
    %
    
    
    4,213,675
    
    
    
    86,337
    
    
    
    1,755,108Softs
    
    
    775,053
    
    
    
    0.32
    %
    
    
    1,461,690
    
    
    
    353,834
    
    
    
    833,381Indices
    
    
    730,475
    
    
    
    0.30
    %
    
    
    7,152,565
    
    
    
    584,698
    
    
    
    2,556,035Total
    
    $
    17,382,714
    
    
    
    7.26
    %
 
 *
    
    Annual average of month-end Value at Risk 29




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December 31, 2008
 High
    
    
    Low
    
    
    Average% of Total
    
    
    Value at
    
    
    Value at
    
    
    Value atMarket Sector
    
    Value at Risk
    
    
    Capitalization
    
    
    Risk
    
    
    Risk
    
    
    Risk*Currencies
    
    $
    2,033,552
    
    
    
    2.05
    %
    
    $
    2,133,841
    
    
    $
    404,375
    
    
    $
    1,177,834Energy
    
    
    1,373,430
    
    
    
    1.38
    %
    
    
    5,244,750
    
    
    
    255,462
    
    
    
    1,831,958Grains
    
    
    617,624
    
    
    
    0.62
    %
    
    
    2,403,902
    
    
    
    415,944
    
    
    
    963,936Interest Rates U.S.
    
    
    1,161,200
    
    
    
    1.17
    %
    
    
    1,183,600
    
    
    
    66,931
    
    
    
    631,163Interest Rates Non -U.S.
    
    
    2,219,191
    
    
    
    2.24
    %
    
    
    2,247,376
    
    
    
    450,742
    
    
    
    1,450,548Livestock
    
    
    180,150
    
    
    
    0.18
    %
    
    
    350,200
    
    
    
    26,555
    
    
    
    168,853Metals
    
    
    1,891,418
    
    
    
    1.91
    %
    
    
    4,028,244
    
    
    
    734,589
    
    
    
    2,099,632Softs
    
    
    603,632
    
    
    
    0.61
    %
    
    
    1,018,874
    
    
    
    451,658
    
    
    
    643,159Indices
    
    
    1,105,179
    
    
    
    1.11
    %
    
    
    4,700,387
    
    
    
    469,975
    
    
    
    1,929,248Lumber
    
    
    38,500
    
    
    
    0.04
    %
    
    
    63,100
    
    
    
    24,200
    
    
    
    37,900Total
    
    $
    11,223,876
    
    
    
    11.31
    %
 
 *
    
    Annual average of month-end Value at Risk Material Limitations on Value at Risk as an Assessment of Market Risk
  30




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Non-Trading Risk
   Qualitative Disclosures Regarding Primary Trading Risk Exposures
   Interest Rates
 Currencies
 Stock Indices
 31




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Metals
 Softs
 Energy
 Grains
 Qualitative Disclosures Regarding Non-Trading Risk Exposure
  Foreign
Currency Balances.
 Qualitative Disclosures Regarding Means of Managing Risk Exposure
     32




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CITIGROUP GLOBAL DIVERSIFIED FUTURES FUND L.P.
INDEX TO FINANCIAL STATEMENTS
 Item 8. Financial Statements and Supplementary Data .
 PageNumberOath or Affirmation
    
    F-3Managements Report on Internal Control over Financial Reporting
    
    F-4Reports of Independent Registered Public Accounting Firms
    
    F-5  F-7Financial Statements:Statements of Financial Condition at December 31, 2008 and 2007
    
    F-8Schedules of Investments at December 31, 2008 and 2007
    
    F-9  F-10Statements of Income and Expenses for the years ended December 31, 2008, 2007
and 2006
    
    F-11Statements of Changes in Partners Capital for the years ended December 31,
2008, 2007 and 2006
    
    F-12Notes to Financial Statements
    
    F-13  F-21Selected Unaudited Quarterly Financial Data
    
    F-22Financial Statements of CMF Campbell Master Fund L.P.Oath or Affirmation
    
    F-23Reports of Independent Registered Public Accounting Firms
    
    F-24  F-25Statements of Financial Condition at December 31, 2008 and 2007
    
    F-26Schedules of Investments at December 31, 2008 and 2007
    
    F-27  F-28Statements of Income and Expenses for the years ended December 31, 2008, 2007
and 2006
    
    F-29Statements of Changes in Partners Capital for the years ended December 31,
2008, 2007 and 2006
    
    F-30Notes to Financial Statements
    
    F-31  F-37Selected Unaudited Quarterly Financial Data
    
    F-38Financial Statements of CMF Altis Partners Master Fund L.P.Oath or Affirmation
    
    F-39Reports of Independent Registered Public Accounting Firms
    
    F-40  F-41Statements of Financial Condition at December 31, 2008 and 2007
    
    F-42Schedules of Investments at December 31, 2008 and 2007
    
    F-43  F-44Statements of Income and Expenses at December 31, 2008, 2007 and 2006
    
    F-45Statements of Changes in Partners Capital at December 31, 2008, 2007 and 2006
    
    F-46Notes to Financial Statements
    
    F-47  F-52Selected Unaudited Quarterly Financial Data
    
    F-53
 F-1




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CITIGROUP GLOBAL DIVERSIFIED FUTURES FUND L.P.
INDEX TO FINANCIAL STATEMENTS  CONTINUED
 PageNumberFinancial Statements of CMF Aspect Master Fund L.P.Oath or Affirmation
    
    F-54Reports of Independent Registered Public Accounting Firms
    
    F-55  F-56Statements of Financial Condition at December 31, 2008 and 2007
    
    F-57Schedules of Investments at December 31, 2008 and 2007
    
    F-58  F-59Statements of Income and Expenses at December 31, 2008, 2007 and 2006
    
    F-60Statements of Changes in Partners Capital at December 31, 2008, 2007 and 2006
    
    F-61Notes to Financial Statements
    
    F-62  F-67Selected Unaudited Quarterly Financial Data
    
    F-68
 F-2




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TABLE OF CONTENTS  PART IItem 1. BusinessItem 1A. Risk FactorsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Submission of Matters to a Vote of Security HoldersPART IIItem 5. Market for Registrants Common Equity, Related Security Holder Matters and Issuer            Purchases of Equity SecuritiesItem 6. Selected Financial DataItem 7. Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataManagements Report on Internal Control over Financial ReportingReport of Independent Registered Public Accounting FirmStatements of Financial ConditionSchedule of InvestmentsSchedule of InvestmentsStatements of Income and ExpensesStatements of Changes in Partners CapitalCitigroup Global Diversified Futures Fund L.P. Notes to Financial Statement December 31, 2008To the Limited Partners of CMF Campbell Master Fund L.P.Report of Independent AuditorsStatements of Financial Condition December 31, 2008 and 2007Schedule of Investments December 31, 2008Statements of Income and Expenses for the years ended December 31, 2008, 2007 and 2006Statements of Changes in Partners Capital for the years ended December 31, 2008, 2007 and 2006Notes to Financial Statements December 31, 2008CMF Altis Partners Master Fund L.P.Report of Independent AuditorsStatements of Financial ConditionSchedule of InvestmentsStatements of Income and ExpensesStatements of Changes in Partners CapitalNotes to Financial StatementsStatements of Financial ConditionSchedule of InvestmentsSchedule of InvestmentsStatements of Income and ExpensesStatements of Changes in Partners CapitalNotes to Financial Statements December 31, 2008Item 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPART IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accountant Fees and ServicesPART IVItem 15. Exhibits and Financial Statement SchedulesSIGNATURESEX-10.22: LETTERS EXTENDING MANAGEMENTSEX-10.23: MANAGEMENT AGREEMENTEX-23.1: CONSENT OF KPMG LLPEX-31.1: CERTIFICATIONEX-31.2: CERTIFICATIONEX-32.1: CERTIFICATIONEX-32.2: CERTIFICATION  To the
    Limited Partners of
    Citigroup Global Diversified Futures Fund L.P.
    
  By:
    Jennifer Magro
    Chief Financial Officer and Director
    Citigroup Managed Futures LLC
    General Partner,
    Citigroup Global Diversified Futures Fund L.P.  Citigroup Managed Futures LLC    212-559-2011
 F-3




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Managements
    Report on Internal Control over
    Financial Reporting
            Internal
    Control-Integrated Framework
     
   
 F-4




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Report of Independent Registered Public Accounting Firm
 
 Internal Control  Integrated Framework
  F-5




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F-6




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Report of Independent Registered Public Accounting Firm
 
     
 F-7




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##### 



Citigroup
    Global Diversified Futures Fund L.P.
 Statements
    of Financial Condition
    December 31, 2008 and 2007
  2008


2007Assets:Investment in Partnerships, at fair value (Note 5)

$
37,284,051


$
40,944,047Cash (Note 3c)


5,558,203



73,04242,842,254



41,017,089Distribution receivable


543



80,265Interest receivable (Note 3c)


82



Total assets

$
42,842,879


$
41,097,354Liabilities and Partners Capital:Liabilities:Accrued expenses:Brokerage commissions (Note 3c)

$
192,793


$
184,938Management fees (Note 3b)


62,786



59,223Incentive fees (Note 3b)


1,958,313



404,736Professional fees


25,800



27,798Other


26,704



16,680Redemptions payable (Note 6)


1,356,599



284,408Total liabilities


3,622,995



977,783Partners Capital: (Notes 1 and 6)General Partner, 421.6204 and 1,802.4014 Unit equivalents
    outstanding at December 31, 2008 and 2007, respectively


892,777



3,099,968Limited Partners, 18,100.2695 and 21,524.1927 Redeemable Units
    of Limited Partnership Interest outstanding at December 31,
    2008 and 2007, respectively


38,327,107



37,019,603Total partners capital


39,219,884



40,119,571Total liabilities and partners capital

$
42,842,879


$
41,097,354   See accompanying notes to financial statements.
 F-8




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
 Schedule of
    Investments
    December 31, 2008
  % of PartnersFair Value


CapitalInvestment in PartnershipsCMF Campbell Master Fund L.P.

$
8,558,767



21.82
%CMF Aspect Master Fund L.P.


13,187,747



33.62CMF Altis Partners Master Fund L.P.


15,537,537



39.62Total fair value

$
37,284,051



95.06
%   See accompanying notes to financial statements.
 F-9




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
 Schedule of
    Investments
    December 31, 2007
  % of PartnersFair Value


CapitalInvestment in PartnershipsCMF Campbell Master Fund L.P.

$
10,625,425



26.48
%CMF Aspect Master Fund L.P.


14,246,680



35.51CMF Altis Partners Master Fund L.P.


16,071,942



40.06Total fair value

$
40,944,047



102.05
%   See accompanying notes to financial statements.
 F-10




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
 Statements
    of Income and Expenses
    for the years ended
    December 31, 2008, 2007 and 2006
  2008


2007


2006Income:Net gains (losses) on trading of commodity interests and
    investment in Partnerships:Net realized gains (losses) on closed positions

$
567,818


$



$
Net realized gains (losses) on investment in Partnerships


12,301,849



3,126,552



4,688,597Change in net unrealized gains (losses) on investments in
    Partnerships


40,675



(25,718
)


3,758,587Gain (loss) from trading, net


12,910,342



3,100,834



8,447,184Interest income (Note 3c)


1,608







Interest income from investment in Partnerships


421,468



1,485,334



1,687,808Total income (loss)


13,333,418



4,586,168



10,134,992Expenses:Brokerage commissions including clearing fees (Note 3c)


2,300,441



2,403,264



2,661,982Management fees (Note 3b)


719,564



742,339



814,753Incentive fees (Note 3b)


1,958,313



404,736



865,525Professional fees


72,690



64,904



93,696Other


42,092



54,444



21,205Total expenses


5,093,100



3,669,687



4,457,161Net income (loss)

$
8,240,318


$
916,481


$
5,677,831Net income (loss) per Redeemable Unit of Limited Partnership
    Interest and General Partner Unit equivalent (Notes 1 and 7)

$
397.58


$
46.83


$
192.40   See accompanying notes to financial statements.
 F-11




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.

    Statements of Changes in Partners Capital
    for the years ended
    December 31, 2008, 2007 and 2006
  Limited


GeneralPartners


Partner


TotalPartners capital at December 31, 2005

$
45,639,680


$
917,723


$
46,557,403Net income


5,545,414



132,417



5,677,831Sale of 904.4208 Units of General Partner Interest






1,500,000



1,500,000Redemption of 5,303.9408 Redeemable Units of Limited Partnership
    Interest


(8,489,067
)






(8,489,067
)Partners capital at December 31, 2006


42,696,027



2,550,140



45,246,167Net income


797,332



119,149



916,481Sale of 278.1823 Units of General Partner Interest






430,679



430,679Redemption of 3,995.2844 Redeemable Units of Limited Partnership
    Interest


(6,473,756
)






(6,473,756
)Partners capital at December 31, 2007


37,019,603



3,099,968



40,119,571Net income


7,947,509



292,809



8,240,318Redemption of 3,423.9232 Redeemable Units of Limited Partnership
    Interest and 1,380.7810 General Partner Unit equivalents


(6,640,005
)


(2,500,000
)


(9,140,005
)Partners capital at December 31, 2008

$
38,327,107


$
892,777


$
39,219,884Net Asset Value per Unit:   2006:

$
1,673.082007:

$
1,719.912008:

$
2,117.49
   See accompanying notes to financial statements.
 F-12




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  1.
    Partnership
    Organization:              2.
    Accounting
    Policies:  a.
    Use of Estimates.  The preparation of financial
    statements and accompanying notes in conformity with
    U.S. generally accepted accounting principles
    (GAAP) requires management to make estimates and
    assumptions that affect the reported amounts of assets and
    liabilities, income and expenses, and related disclosures of
    contingent assets and liabilities in the financial statements
    and accompanying notes. Actual results could differ from these
    estimates.b.
    Statement of Cash Flows.  The Partnership has
    elected not to provide a Statement of Cash Flows as permitted by
    Statement of Financial Accounting Standards No. 102
    Statement of Cash Flows-Exemption of Certain Enterprises
    and Classification of Cash Flows from Certain Securities
    Acquired for Resale (FAS 102). F-13




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  c.
    Investments.  All commodity interests
    (including derivative financial instruments and derivative
    commodity instruments) are held for trading purposes. The
    commodity interests are recorded on trade date and open
    contracts are recorded at fair value (as described below) at the
    measurement date. Investments in commodity interests denominated
    in foreign currencies are translated into U.S. dollars at
    the exchange rates prevailing at the measurement date. Gains or
    losses are realized when contracts are liquidated. Unrealized
    gains or losses on open contracts are included as a component of
    equity in commodity futures trading account on the Statements of
    Financial Condition. Realized gains or losses and any change in
    net unrealized gains or losses from the preceding period are
    reported in the Statements of Income and Expenses.  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    Quoted Prices inActive Markets

Significant Other

Significantfor Identical

Observable Inputs

Unobservable12/31/2008

Assets (Level 1)

(Level 2)

Inputs (Level 3)AssetsInvestment in Partnerships

$
37,284,051


$



$
37,284,051


$
Total fair value

$
37,284,051


$



$
37,284,051


$
   d.
    Futures Contracts.  The Partnership/Funds trade
    futures contracts. A futures contract is a firm commitment to
    buy or sell a specified quantity of investments, currency or a
    standardized amount of a deliverable grade commodity, at a
    specified price on a specified future date, unless the contract
    is closed before the delivery date, or if the delivery quantity
    is something where physical delivery cannot occur (such as
    S&P 500 Index), whereby such contract is settled in cash.
    Payments (variation margin) may be made or received
    by the Partnership/Funds each business day, depending on the
    daily fluctuations in the value of the underlying contracts, and
    are recorded as unrealized gains or losses by the
    Partnership/Funds. When the contract is closed, the
    Partnership/Funds record a realized gain or loss equal to the
    difference between the value of the contract at the time it was
    opened and the value at the time it was closed. Because
    transactions in futures contracts require F-14




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  participants to make both initial margin deposits of cash or
    other assets and variation margin deposits, through the futures
    broker, directly with the exchange on which the contracts are
    traded, credit exposure is limited. Realized gains (losses) and
    changes in unrealized gains (losses) on futures contracts are
    included in the Statements of Income and Expenses.  e.
    Forward Foreign Currency Contracts.  Foreign
    currency contracts are those contracts where the Partnership and
    the Funds agrees to receive or deliver a fixed quantity of
    foreign currency for an
    agreed-upon
    price on an agreed future date. Foreign currency contracts are
    valued daily, and the Funds net equity therein,
    representing unrealized gain or loss on the contracts as
    measured by the difference between the forward foreign exchange
    rates at the dates of entry into the contracts and the forward
    rates at the reporting date, is included in the Statements of
    Financial Condition. Realized gains (losses) and changes in
    unrealized gains (losses) on foreign currency contracts are
    recognized in the period in which the contract is closed or the
    changes occur, respectively,  and are included in the Statements
    of Income and Expenses.  f.
    London Metals Exchange Forward
    Contracts.  Metal contracts traded on the London
    Metals Exchange (LME) represent a firm commitment to
    buy or sell a specified quantity of Aluminum, Copper, Lead,
    Nickel, Tin or Zinc. LME contracts traded by the Partnership and
    the Funds are cash settled based on prompt dates published by
    the LME. Payments (variation margin) may be made or
    received by the Partnership and the Funds each business day,
    depending on the daily fluctuations in the value of the
    underlying contracts, and are recorded as unrealized gains or
    losses by the Partnership and the Funds. A contract is
    considered offset when all long positions have been matched with
    short positions. When the contract is closed at the prompt date,
    the Partnership and the Funds record a realized gain or loss
    equal to the difference between the value of the contract at the
    time it was opened and the value at the time it was closed.
    Because transactions in LME contracts require participants to
    make both initial margin deposits of cash or other assets and
    variation margin deposits, through the broker, directly with the
    LME, credit exposure is limited. Realized gains (losses) and
    changes in unrealized gains (losses) on metal contracts are
    included in the Statements of Income and Expenses.g.
    Options.  The Funds may purchase and write
    (sell) both exchange listed and
    over-the-counter,
    options on commodities or financial instruments. An option is a
    contract allowing, but not requiring, its holder to buy (call)
    or sell (put) a specific or standard commodity or financial
    instrument at a specified price during a specified time period.
    The option premium is the total price paid or received for the
    option contract. When the Funds writes an option, the premium
    received is recorded as a liability in the Statements of
    Financial Condition and marked to market daily. When the Funds
    purchases an option, the premium paid is recorded as an asset in
    the Statements of Financial Condition and marked to market
    daily. Realized gains (losses) and changes in unrealized gains
    (losses) on options contracts are included in the Statements of
    Income and Expenses.h.
    Income Taxes.  Income taxes have not been
    provided as each partner is individually liable for the taxes,
    if any, on their share of the Partnerships income and
    expenses.     F-15




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  i.
    Recent Accounting Pronouncements.  On
    March 19, 2008, Financial Accounting Standards Board
    released Statement of Financial Accounting Standards
    No. 161, Disclosures about Derivative Instruments and
    Hedging Activities (FAS 161).
    FAS 161 requires qualitative disclosures about objectives
    and strategies for using derivatives, quantitative disclosures
    about fair value amounts of and gains and losses on derivative
    instruments, and disclosures about credit-risk-related
    contingent features in derivative agreements. The application of
    FAS 161 is required for fiscal years beginning after
    November 15, 2008 and interim periods within those fiscal
    years. The standard expands the disclosure requirements for
    derivatives and hedged items and has no impact on how the
    Partnership accounts for derivatives (the Partnership does not
    have hedged items). Management is evaluating the enhanced
    disclosure requirements and does not believe that there will be
    any material impact on the financial statement disclosures.j.
    Certain prior period amounts have been reclassified to conform
    to the current year presentation.  3.
    Agreements:  a.
    Limited Partnership Agreement:    b.
    Management Agreement:      c.
    Customer Agreement:  give-up
 F-16




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  30-day and/or 90-day
  4.
    Trading
    Activities:      5.
    Investment
    in Partnerships:       F-17




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
            December 31, 2008Total


TotalTotal Assets


Liabilities


CapitalCampbell Master

$
130,426,422


$
2,951,460


$
127,474,962Aspect Master


240,239,697



885,364



239,354,333Altis Master


100,931,953



1,649,371



99,282,582Total

$
471,598,072


$
5,486,195


$
466,111,877   December 31, 2007Total


TotalTotal Assets


Liabilities


CapitalCampbell Master

$
226,825,488


$
10,129,288


$
216,696,200Aspect Master


209,651,889



6,956,669



202,695,220Altis Master


73,353,710



1,094,835



72,258,875Total

$
509,831,087


$
18,180,792


$
491,650,295  F-18




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
     For
    the year ended December 31, 2008
  % of














NetPartnerships





Income


Expenses


Income


Investment

RedemptionsFunds

Net Assets


Fair Value


(loss)


Commissions


Other


(Loss)


Objective

PermittedCampbell Master


21.82
%

$
8,558,767


$
422,161


$
6,463


$
2,787


$
412,911


FME Portfolio

MonthlyAspect Master


33.62
%


13,187,747



4,176,031



20,067



2,293



4,153,671


Commodity  Portfolio

MonthlyAltis Master


39.62
%


15,537,537



8,165,800



34,297



7,218



8,124,285


Commodity Portfolio

MonthlyTotal





$
37,284,051


$
12,763,992


$
60,827


$
12,298


$
12,690,867   For
    the year ended December 31, 2007
  % of














NetPartnerships





Income


Expenses


Income


Investment

RedemptionsFunds

Net Assets


Fair Value


(loss)


Commissions


Other


(Loss)


Objective

PermittedCampbell Master


26.48
%

$
10,625,425


$
(844,237
)

$
19,972


$
1,698


$
(865,907
)

FME Portfolio

MonthlyAspect Master


35.51
%


14,246,680



1,682,973



29,136



1,757



1,652,080


Commodity Portfolio

MonthlyAltis Master


40.06
%


16,071,942



3,747,432



48,082



10,409



3,688,941


Commodity Portfolio

MonthlyTotal





$
40,944,047


$
4,586,168


$
97,190


$
13,864


$
4,475,114   6.
    Distributions
    and Redemptions:   F-19




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
  7.
    Financial
    Highlights:    2008


2007


2006Net realized and unrealized gains (losses)*

$
512.64


$
39.30


$
194.87Interest income


19.30



58.34



58.02Expenses**


(134.36
)


(50.81
)


(60.49
)Increase (decrease) for the year


397.58



46.83



192.40Net Asset Value per Redeemable Unit, beginning of year


1,719.91



1,673.08



1,480.68Net Asset Value per Redeemable Unit, end of year

$
2,117.49


$
1,719.91


$
1,673.08*  Includes brokerage commissions.** Excludes brokerage commissions.  Ratios to Average Net Assets:Net investment income (loss) before incentive fees***


(7.0
)%


(4.2
)%


(4.1
)%Operating expenses


8.1
%


7.7
%


7.8
%Incentive fees


5.1
%


1.0
%


1.9
%Total expenses


13.2
%


8.7
%


9.7
%Total return:Total return before incentive fees


29.3
%


3.8
%


15.2
%Incentive fees


(6.2
)%


(1.0
)%


(2.2
)%Total return after incentive fees


23.1
%


2.8
%


13.0
%    ***
    
    Interest income less total expenses.    8.
    Financial
    Instrument Risks:     F-20




---



##### 



Citigroup
    Global Diversified Futures Fund L.P.
    Notes to Financial Statement
    December 31, 2008
           F-21




---



##### 



For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2008 to
    
    July 1, 2008 to
    
    April 1, 2008 to
    
    January 1, 2008 toDecember 31, 2008
    
    September 30, 2008
    
    June 30, 2008
    
    March 31, 2008Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    7,378,560
    
    
    $
    (5,367,111
    )
    
    $
    5,720,765
    
    
    $
    3,300,763Net income (loss)
    
    $
    5,687,836
    
    
    $
    (4,524,768
    )
    
    $
    4,502,359
    
    
    $
    2,574,891Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    286.96
    
    
    $
    (215.83
    )
    
    $
    215.97
    
    
    $
    110.48
 For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2007 to
    
    July 1, 2007 to
    
    April 1, 2007 to
    
    January 1, 2007 toDecember 31, 2007
    
    September 30, 2007
    
    June 30, 2007
    
    March 31, 2007Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    2,320,602
    
    
    $
    (4,294,137
    )
    
    $
    7,276,463
    
    
    $
    (3,120,024
    )Net income (loss)
    
    $
    1,807,697
    
    
    $
    (4,161,912
    )
    
    $
    6,608,814
    
    
    $
    (3,338,118
    )Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    75.74
    
    
    $
    (160.49
    )
    
    $
    256.47
    
    
    $
    (124.89
    )
 F-22




---



##### 



To the
    Limited Partners of
    CMF Campbell Master Fund L.P.
    
  By:
    Jennifer Magro      Citigroup Managed Futures LLC
 212-559-2011
 F-23




---



##### 



Report of Independent Auditors
 
   
 F-24




---



##### 



Report of Independent Registered Public Accounting Firm
 
     F-25




---



##### 



CMF
    Campbell Master Fund L.P.

    Statements of Financial Condition
    December 31, 2008 and 2007
  2008


2007Assets:Equity in commodity futures trading account:Cash (Note 3c)

$
119,063,081


$
202,331,563Cash margin (Note 3c)


7,947,067



17,299,861Net unrealized appreciation on open futures contracts


159,230



1,316,942Unrealized appreciation on open forward contracts


3,234,818



5,178,307Options owned, at fair value (cost $36,166 and $269,832 at
    December 31, 2008 and 2007, respectively)


20,304



263,000130,424,500



226,389,673Interest receivable


1,922



435,815Total assets

$
130,426,422


$
226,825,488Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
2,837,275


$
7,684,822Options written, at fair value (premium $108,994 and $153,329 at
    December 31, 2008 and 2007, respectively)


82,624



110,504Accrued expenses:Professional fees


29,639



22,189Redemption payable (Note 5)






1,875,958Distribution payable (Note 5)


1,922



435,815Total liabilities


2,951,460



10,129,288Partners Capital:General Partner, 0.0000 Unit equivalents at December 31,
    2008 and 2007






Limited Partners Capital, 112,523.4490 and 197,763.9128
    Redeemable Units of Limited Partnership Interest outstanding at
    December 31, 2008 and 2007, respectively


127,474,962



216,696,200Total liabilities and partners capital

$
130,426,422


$
226,825,488   See accompanying notes to financial statements.
 F-26




---



##### 



CMF
    Campbell Master Fund L.P.

    Schedule of Investments
    December 31, 2008
  % of PartnersFair Value


CapitalFutures Contracts PurchasedInterest Rates Non-U.S

$
600,131



0.47
%Interest Rates U.S


(204,258
)


(0.16
)Indices


44,667



0.04Metals


3,250



0.00
*Total futures contracts purchased


443,790



0.35Futures Contracts SoldEnergy


(42,257
)


(0.03
)Interest Rates Non-U.S


(92,304
)


(0.07
)Interest Rates U.S


(987
)


(0.00
)*Indices


(149,012
)


(0.12
)Total futures contracts sold


(284,560
)


(0.22
)Net unrealized appreciation on open futures contracts


159,230



0.13Unrealized Appreciation on Open Forward ContractsCurrencies


3,229,485



2.53Metals


5,333



0.00
*Total unrealized appreciation on open forward contracts


3,234,818



2.53Unrealized Depreciation on Open Forward ContractsCurrencies


(2,741,087
)


(2.15
)Metals


(96,188
)


(0.08
)Total unrealized depreciation on open forward contracts


(2,837,275
)


(2.23
)Options OwnedCurrencies


20,304



0.02Options WrittenCurrencies


(82,624
)


(0.06
)Total fair value

$
494,453



0.39
%   *
    
    Due to rounding.  See accompanying notes to financial statements.
 F-27




---



##### 



CMF
    Campbell Master Fund L.P.
    Schedule of Investments
    December 31, 2007
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
504,120



0.23
%Interest Rates Non-U.S.


111,291



0.05Interest Rates U.S.


380,506



0.18Indices


698,091



0.32Metals


215,440



0.10Total futures contracts purchased


1,909,448



0.88Futures Contracts SoldEnergy


(391,048
)


(0.18
)Interest Rates Non-U.S.


(159,023
)


(0.07
)Interest Rates U.S.


(3,078
)


(0.00
)*Indices


(39,357
)


(0.02
)Total futures contracts sold


(592,506
)


(0.27
)Net unrealized appreciation on open futures contracts


1,316,942



0.61Unrealized Appreciation on Forward ContractsCurrencies


5,081,872



2.35Metals


96,435



0.04Total unrealized appreciation on forward contracts


5,178,307



2.39Unrealized Depreciation on Forward ContractsCurrencies


(7,615,465
)


(3.52
)Metals


(69,357
)


(0.03
)Total unrealized depreciation on forward contracts


(7,684,822
)


(3.55
)Options OwnedCurrencies


263,000



0.12Options WrittenCurrencies


(110,504
)


(0.05
)Total fair value

$
(1,037,077
)


(0.48
)%    *
    
    Due to rounding  See accompanying notes to financial statements.
 F-28




---



##### 



CMF
    Campbell Master Fund L.P.
 Statements of Income and Expenses
 for the years ended December 31, 2008, 2007 and 2006
  2008


2007


2006Income:Net gains (loss) on trading of commodity interests:Net realized gains (losses) on closed positions

$
5,096,789


$
(7,020,650
)

$
(8,703,477
)Change in net unrealized gains (losses) on open positions


1,720,861



(19,893,661
)


29,791,293Gain (loss) from trading, net


6,817,650



(26,914,311
)


21,087,816Interest income (Note 3c)


1,898,928



9,721,573



12,424,375Total income (loss)


8,716,578



(17,192,738
)


33,512,191Expenses:Clearing fees


114,965



436,254



318,206Professional fees


46,143



38,051



52,325Total expenses


161,108



474,305



370,531Net income (loss)

$
8,555,470


$
(17,667,043
)

$
33,141,660Net income (loss) per Redeemable Unit of Limited Partnership
    Interest (Notes 1 and 6)

$
48.81


$
(82.98
)

$
123.70   See accompanying notes to financial statements.
 F-29




---



##### 



CMF
    Campbell Master Fund L.P.
 Statements of Changes in Partners Capital
 for the years ended December 31, 2008, 2007 and 2006
   PartnersCapitalPartners capital at December 31, 2005

$
326,390,773Net income (loss)


33,141,660Sale of 43,164.5073 Redeemable Units of Limited Partnership
    Interest


50,450,807Redemption of 61,604.6087 Redeemable Units of Limited
    Partnership Interest


(70,468,475
)Distribution of interest to feeder funds


(12,424,375
)Partners capital at December 31, 2006


327,090,390Net income (loss)


(17,667,043
)Sale of 6,744.0375 Redeemable Units of Limited Partnership
    Interest


7,969,328Redemption of 77,141.7434 Redeemable Units of Limited
    Partnership Interest


(90,974,902
)Distribution of interest to feeder funds


(9,721,573
)Partners capital at December 31, 2007


216,696,200Net income (loss)


8,555,470Sale of 7,110.7187 Redeemable Units of Limited Partnership
    Interest


7,921,000Redemption of 92,351.1825 Redeemable Units of Limited
    Partnership Interest


(103,798,780
)Distribution of interest to feeder funds


(1,898,928
)Partners capital at December 31, 2008

$
127,474,962Net Asset Value per Redeemable Unit of Limited Partnership
    Interest:   2006:

$
1,219.752007:

$
1,095.732008:

$
1,132.87
   See accompanying notes to financial statements.
 F-30




---



##### 



CMF
    Campbell Master Fund L.P.

    Notes to Financial Statements
    December 31, 2008
  1.
    Partnership
    Organization:           F-31




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
    2.
    Accounting
    Policies:  a.
    Use of Estimates.The preparation of financial
    statements and accompanying notes in conformity with
    U.S. generally accepted accounting principles
    (GAAP) requires management to make estimates and
    assumptions that affect the reported amounts of assets and
    liabilities, income and expenses, and related disclosures of
    contingent assets and liabilities in the financial statements
    and accompanying notes. Actual results could differ from these
    estimates.b.
    Statement of Cash Flows.The Master has
    elected not to provide a Statement of Cash Flows as permitted by
    Statement of Financial Accounting Standards No. 102
    Statement of Cash Flows-Exemption of Certain Enterprises
    and Classification of Cash Flows from Certain Securities
    Acquired for Resale (FAS 102).c.
    Investments.All commodity interests of the
    Master (including derivative financial instruments and
    derivative commodity instruments) are held for trading purposes.
    The commodity interests are recorded on trade date and open
    contracts are recorded at fair value (as described below) at the
    measurement date. Investments in commodity interests denominated
    in foreign currencies are translated into U.S. dollars at
    the exchange rates prevailing at the measurement date. Gains or
    losses are realized when contracts are liquidated. Unrealized
    gains or losses on open contracts are included as a component of
    equity in commodity futures trading account on the Statements of
    Financial Condition. Realized gains or losses and any change in
    net unrealized gains or losses from the preceding period are
    reported in the Statements of Income and Expenses.  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    F-32




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable12/31/2008


(Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
159,230


$
159,230


$



$
Forwards


3,234,818



5,333



3,229,485



Options owned


20,304







20,304



Total assets

$
3,414,352


$
164,563


$
3,249,789


$
LiabilitiesForwards

$
2,837,275


$
96,188


$
2,741,087


$
Options written


82,624







82,624



Total liabilities


2,919,899



96,188



2,823,711



Total fair value

$
494,453


$
68,375


$
426,078


$
   d.
    Futures Contracts.The Master trades futures
    contracts. A futures contract is a firm commitment to buy or
    sell a specified quantity of investments, currency or a
    standardized amount of a deliverable grade commodity, at a
    specified price on a specified future date, unless the contract
    is closed before the delivery date or if the delivery quantity
    is something where physical delivery cannot occur (such as
    S&P 500 Index), whereby such contract is settled in cash.
    Payments (variation margin) may be made or received
    by the Master each business day, depending on the daily
    fluctuations in the value of the underlying contracts, and are
    recorded as unrealized gains or losses by the Master. When the
    contract is closed, the Master records a realized gain or loss
    equal to the difference between the value of the contract at the
    time it was opened and the value at the time it was closed.
    Because transactions in futures contracts require participants
    to make both initial margin deposits of cash or other assets and
    variation margin deposits, through the futures broker, directly
    with the exchange on which the contracts are traded, credit
    exposure is limited. Realized gains (losses) and changes in
    unrealized gains (losses) on futures contracts are included in
    the Statements of Income and Expenses.  e.
    Forward Foreign Currency Contracts.Foreign
    currency contracts are those contracts where the Master agrees
    to receive or deliver a fixed quantity of foreign currency for
    an
    agreed-upon
    price on an agreed future date. Foreign currency contracts are
    valued daily, and the Masters net equity therein,
    representing unrealized gain or loss on the contracts as
    measured by the difference between the forward foreign exchange
    rates at the dates of entry into the contracts and the forward
    rates at the reporting date, is included in the Statements of
    Financial Condition. Realized gains (losses) and changes in
    unrealized gains (losses) on foreign currency contracts are
    recognized in the period in which the contract is closed or the
    changes occur, respectively, and are included in the Statements
    of Income and Expenses.  f.
    London Metals Exchange Forward
    Contracts.  Metal contracts traded on the London
    Metals Exchange (LME) represent a firm commitment to
    buy or sell a specified quantity of Aluminum, Copper, Lead,
    Nickel, Tin  or Zinc. LME contracts traded by the Master are
    cash settled based on prompt dates published by the LME.
    Payments (variation margin) may be made or received
    by the Master each business day, depending on the daily
    fluctuations in the value of the underlying contracts, and are
    recorded as unrealized gains or losses by the Master. A contract
    is considered offset when all long positions have been matched
    with short positions. When the contract is closed at the prompt
    date, the Master records a realized gain or loss equal to the
    difference between the value of the contract at the time it was
    opened and the value at the time it was closed. Because
    transactions in LME contracts require participants to make both
    initial margin deposits of cash or other assets and variation
    margin deposits, through the broker, directly with the LME, F-33




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  credit exposure is limited. Realized gains (losses) and changes
    in unrealized gains (losses) on metal contracts are included in
    the Statements of Income and Expenses.  g.
    Options.The Master may purchase and write
    (sell), both exchange listed and over-the-counter, options on
    commodities or financial instruments. An option is a contract
    allowing, but not requiring, its holder to buy (call) or sell
    (put) a specific or standard commodity or financial instrument
    at a specified price during a specified time period. The option
    premium is the total price paid or received for the option
    contract. When the Master writes an option, the premium received
    is recorded as a liability in the Statements of Financial
    Condition and marked to market daily. When the Master purchases
    an option, the premium paid is recorded as an asset in the
    Statements of Financial Condition and marked to market daily.
    Realized gains (losses) and changes in unrealized gains (losses)
    on options contracts are included in the Statements of Income
    and Expenses.h.
    Income and Expenses Recognition.All of the
    income and expenses and realized and unrealized gains and losses
    on trading of commodity interests are determined on each
    valuation day and allocated pro rata among the Funds at the time
    of such determination.  i.
    Income Taxes.Income taxes have not been
    provided as each partner is individually liable for the taxes,
    if any, on their share of the Masters income and expenses.      j.
    Recent Accounting Pronouncements.On
    March 19, 2008, Financial Accounting Standards Board
    released Statement of Financial Accounting Standards
    No. 161, Disclosures about Derivative Instruments and
    Hedging Activities (FAS 161).
    FAS 161 requires qualitative disclosures about objectives
    and strategies for using derivatives, quantitative disclosures
    about fair value amounts of and gains and losses on derivative
    instruments, and disclosures about credit-risk-related
    contingent features in derivative agreements. The application of
    FAS 161 is required for fiscal years beginning after
    November 15, 2008 and interim periods within those fiscal
    years. The standard expands the disclosure requirements for
    derivatives and hedged items and has no impact on how the Master
    accounts for derivatives (the Master does not have hedged
    items). Management is evaluating the enhanced disclosure
    requirements and does not believe that there will be any
    material impact on the financial statement disclosures.  3.
    Agreements:  a.
    Limited Partnership Agreement:   F-34




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  b.
    Management Agreement:    c.
    Customer Agreement:  give-up,
  4.
    Trading
    Activities:      5.
    Distributions
    and Redemptions:   F-35




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  6.
    Financial
    Highlights:    2008


2007


2006Net realized and unrealized gains (losses)*

$
37.47


$
(123.87
)

$
81.10Interest income


11.67



41.04



42.78Expenses**


(0.33
)


(0.15
)


(0.18
)Increase (decrease) for the year


48.81



(82.98
)


123.70Distribution of interest income to feeder funds


(11.67
)


(41.04
)


(42.78
)Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, beginning of year


1,095.73



1,219.75



1,138.83Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, end of year

$
1,132.87


$
1,095.73


$
1,219.75    *
    
    Includes clearing fees

**
    
    Excludes clearing fees  Ratios to average net assets:Net investment income (loss)***


1.0
%


3.3
%


3.6
%Operating expenses


0.1
%


0.2
%


0.1
%Total return


4.5
%


(6.8
)%


10.9
%    ***
    
    Interest income less total expenses    7.
    Financial
    Instrument Risks:       F-36




---



##### 



CMF
    Campbell Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
         F-37




---



##### 



For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2008 to
    
    July 1, 2008 to
    
    April 1, 2008 to
    
    January 1, 2008 toDecember 31, 2008
    
    September 30, 2008
    
    June 30, 2008
    
    March 31, 2008Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    (587,579
    )
    
    $
    (4,348,292
    )
    
    $
    10,671,583
    
    
    $
    2,865,901Net income (loss)
    
    $
    (607,961
    )
    
    $
    (4,356,671
    )
    
    $
    10,663,067
    
    
    $
    2,857,035Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    (4.11
    )
    
    $
    (32.44
    )
    
    $
    70.15
    
    
    $
    15.21For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2007 to
    
    July 1, 2007 to
    
    April 1, 2007 to
    
    January 1, 2007 toDecember 31,  2007
    
    September 30, 2007
    
    June 30, 2007
    
    March 31, 2007Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    (1,543,815
    )
    
    $
    (42,641,288
    )
    
    $
    41,745,049
    
    
    $
    (15,188,938
    )Net income (loss)
    
    $
    (1,548,757
    )
    
    $
    (42,653,118
    )
    
    $
    41,733,260
    
    
    $
    (15,198,428
    )Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    (9.68
    )
    
    $
    (184.66
    )
    
    $
    171.71
    
    
    $
    (60.35
    )
 F-38




---



##### 



To the
    Limited Partners of
 CMF Altis
    Partners Master Fund L.P.
    
  By:
    Jennifer Magro      Citigroup Managed Futures LLC    212-559-2011
 F-39




---



##### 



Report of Independent Auditors
 
   
 F-40




---



##### 



Report of Independent Registered Public Accounting Firm
 
     
 F-41




---



##### 



CMF Altis
    Partners Master Fund L.P.
 Statements
    of Financial Condition
    December 31, 2008 and 2007
  2008


2007Assets:Equity in commodity futures trading account:Cash (Note 3c)

$
69,644,254


$
44,818,777Cash margin (Note 3c)


14,456,853



15,547,532Net unrealized appreciation on open futures contracts


13,064,649



11,368,855Unrealized appreciation on open forward contracts


3,764,562



1,455,045100,930,318



73,190,209Interest receivable


1,635



163,501Total assets

$
100,931,953


$
73,353,710Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
1,629,773


$
905,243Accrued expenses:Professional fees


17,963



26,091Distribution payable (Note 5)


1,635



163,501Total liabilities


1,649,371



1,094,835Partners Capital:General Partner, 0.0000 Unit equivalents at December 31, 2008
    and 2007






Limited Partners Capital, 29,515.9972 and 36,653.2607
    Redeemable Units of Limited Partnership Interest outstanding at
    December 31, 2008 and 2007, respectively


99,282,582



72,258,875Total liabilities and partners capital

$
100,931,953


$
73,353,710   See accompanying notes to financial statements.
 F-42




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Schedule of Investments
    December 31, 2008
  % of PartnersFair Value


CapitalFutures Contracts PurchasedCurrencies

$
359,977



0.36
%Grains


638



0.00
*Indices


196,752



0.20Interest Rates U.S


2,743,895



2.76Interest Rates Non-U.S


4,508,352



4.54Livestock


(1,500
)


(0.00
)*Metals


198,430



0.20Softs


364,297



0.37Total futures contracts purchased


8,370,841



8.43Futures Contracts SoldCurrencies


596,380



0.60Energy


1,119,463



1.13Grains


712,530



0.72Indices


(21,735
)


(0.02
)Interest Rates Non-U.S


44,808



0.04Livestock


644,715



0.65Lumber


229,460



0.23Metals


652,283



0.66Softs


715,904



0.72Total futures contracts sold


4,693,808



4.73Net unrealized appreciation on open futures contracts


13,064,649



13.16Unrealized Appreciation on Open Forward ContractsMetals


3,764,562



3.79Total unrealized appreciation on open forward contracts


3,764,562



3.79Unrealized Depreciation on Open Forward ContractsMetals


(1,629,773
)


(1.64
)Total unrealized depreciation on open forward contracts


(1,629,773
)


(1.64
)Total fair value

$
15,199,438



15.31
%     See accompanying notes to financial statements.
 F-43




---



##### 



CMF Altis
    Partners Master Fund L.P.
 Schedule of
    Investments
    December 31, 2007
  % of PartnersFair Value


CapitalFutures Contracts PurchasedCurrencies

$
(150,469
)


(0.21
)%Energy


2,878,251



3.98Grains


5,650,204



7.82Indices


(45,957
)


(0.06
)Interest Rates U.S.


1,503,809



2.08Interest Rates Non-U.S.


503,634



0.70Livestock


330



0.00
*Metals


1,277,685



1.77Softs


81,761



0.11Total futures contracts purchased


11,699,248



16.19Futures Contracts SoldCurrencies


(194,655
)


(0.27
)Energy


(418,098
)


(0.58
)Grains


(157,689
)


(0.21
)Indices


26,633



0.04Interest Rates U.S.


(7,800
)


(0.01
)Interest Rates Non-U.S.


161,525



0.22Livestock


277,552



0.38Lumber


81,521



0.11Metals


60,320



0.08Softs


(159,702
)


(0.22
)Total futures contracts sold


(330,393
)


(0.46
)Net unrealized appreciation on open futures contracts


11,368,855



15.73Unrealized Appreciation on Open Forward ContractsMetals


1,455,045



2.01Total unrealized appreciation on open forward contracts


1,455,045



2.01Unrealized Depreciation on Open Forward ContractsMetals


(905,243
)


(1.25
)Total unrealized depreciation on open forward contracts


(905,243
)


(1.25
)Total fair value

$
11,918,657



16.49
%     See accompanying notes to financial statements.
 F-44




---



##### 



CMF Altis
    Partners Master Fund L.P.
 Statements
    of Income and Expenses
    for the years ended
    December 31, 2008, 2007 and 2006
   2008


2007


2006Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed positions

$
43,242,776


$
8,388,931


$
8,431,771Change in net unrealized gains (losses) on open positions


3,280,781



5,902,514



3,526,160Gain (loss) from trading, net


46,523,557



14,291,445



11,957,931Interest income


946,368



2,316,916



1,500,173Total income (loss)


47,469,925



16,608,361



13,458,104Expenses:Clearing fees


174,092



174,310



180,152Professional fees


36,818



38,430



44,679Total expenses


210,910



212,740



224,831Net income (loss)

$
47,259,015


$
16,395,621


$
13,233,273Net income (loss) per Redeemable Unit of Limited Partnership
    Interest (Notes 1 and 6)

$
1,419.53


$
434.50


$
524.45   See accompanying notes to financial statements.
 F-45




---



##### 



CMF Altis
    Partners Master Fund L.P.

    Statements of Changes in Partners Capital
    for the years ended
    December 31, 2008, 2007 and 2006
  PartnersCapitalPartners capital at December 31, 2005

$
20,302,991Net income (loss)


13,233,273Sale of 14,628.1658 Redeembale Units of Limited Partnership
    Interest


19,035,300Redemption of 3,989.5161 Redeemable Units of Limited Partnership
    Interest


(5,344,199
)Distribution of interest income to feeder funds


(1,500,173
)Partners capital at December 31, 2006


45,727,192Net income (loss)


16,395,621Sale of 15,332.4004 Redeembale Units of Limited Partnership
    Interest


24,794,065Redemption of 7,165.6466 Redeemable Units of Limited Partnership
    Interest


(12,341,087
)Distribution of interest income to feeder funds


(2,316,916
)Partners capital at December 31, 2007


72,258,875Net income (loss)


47,259,015Sale of 7,905.1589 Redeembale Units of Limited Partnership
    Interest


19,703,367Redemption of 15,042.4224 Redeemable Units of Limited
    Partnership Interest


(38,992,307
)Distribution of interest income to feeder funds


(946,368
)Partners capital at December 31, 2008

$
99,282,582Net Asset Value per Redeemable Unit of Limited Partnership
    Interest:   2006:

$
1,605.222007:

$
1,971.422008:

$
3,363.69
   See accompanying notes to financial statements.
 F-46




---



##### 



CMF Altis
    Partners Master Fund L.P.
 Notes to
    Financial Statements
    December 31, 2008
  1.
    Partnership
    Organization:              2.
    Accounting
    Policies:  a.
    Use of Estimates.  The preparation of financial
    statements an accompanying notes in conformity with
    U.S. generally accepted accounting principles
    (GAAP) requires management to make estimates and
    assumptions that affect the reported amounts of assets and
    liabilities, income and expenses, and related F-47




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  disclosures of contingent assets and liabilities in the
    financial statements and accompanying notes. Actual results
    could differ from these estimates.  b.
    Statement of Cash Flows.  The Master has
    elected not to provide a Statement of Cash Flows as permitted by
    Statement of Financial Accounting Standards No. 102
    Statement of Cash Flows-Exemption of Certain Enterprises
    and Classification of Cash Flows from Certain Securities
    Acquired for Resale (FAS 102).c.
    Investments.  All commodity interests of the
    Master (including derivative financial instruments and
    derivative commodity instruments) are held for trading purposes.
    The commodity interests are recorded on trade date and open
    contracts are recorded at fair value (as described below) at the
    measurement date. Investments in commodity interests denominated
    in foreign currencies are translated into U.S. dollars at
    the exchange rates prevailing at the measurement date. Gains or
    losses are realized when contracts are liquidated. Unrealized
    gains or losses on open contracts are included as a component of
    equity in commodity futures trading account on the Statements of
    Financial Condition. Realized gain or loss and any change in net
    unrealized gain or loss from the preceding period are reported
    in the Statements of Income and Expenses.  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    F-48




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  Quoted Prices inActive Markets for


Significant Other


SignificantIdentical Assets


Observable Inputs


Unobservable12/31/2008


(Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
13,064,649


$
13,064,649


$



$
Forwards


3,764,562



3,764,562







Total assets


16,829,211



16,829,211







LiabilitiesForwards

$
1,629,773


$
1,629,773


$



$
Total liabilities


1,629,773



1,629,773







Total fair value

$
15,199,438


$
15,199,438


$



$
   d.
    Futures Contracts.  The Master trades futures
    contracts. A futures contract is a firm commitment to buy or
    sell a specified quantity of investments, currency or a
    standardized amount of a deliverable grade commodity, at a
    specified price on a specified future date, unless the contract
    is closed before the delivery date or if the delivery quantity
    is something where physical delivery can not occur (such as
    S&P 500 Index), whereby such contract is settled in
    cash. Payments (variation margin) may be made or
    received by the Master each business day, depending on the daily
    fluctuations in the value of the underlying contracts, and are
    recorded as unrealized gains or losses by the Master. When the
    contract is closed, the Master records a realized gain or loss
    equal to the difference between the value of the contract at the
    time it was opened and the value at the time it was closed.
    Because transactions in futures contracts require participants
    to make both initial margin deposits of cash or other assets and
    variation margin deposits, through the futures broker, directly
    with the exchange on which the contracts are traded, credit
    exposure is limited. Realized gains (losses) and changes in
    unrealized gains (losses) on futures contracts are included in
    the Statements of Income and Expenses.  e.
    London Metals Exchange Forward
    Contracts.  Metal contracts traded on the London
    Metals Exchange (LME) represent a firm commitment to
    buy or sell a specified quantity of Aluminum, Copper, Lead,
    Nickel, Tin  or Zinc. LME contracts traded by the Master are
    cash settled based on prompt dates published by the LME.
    Payments (variation margin) may be made or received
    by the Master each business day, depending on the daily
    fluctuations in the value of the underlying contracts, and are
    recorded as unrealized gains or losses by the Master. A contract
    is considered offset when all long positions have been matched
    with short positions. When the contract is closed at the prompt
    date, the Master record a realized gain or loss equal to the
    difference between the value of the contract at the time it was
    opened and the value at the time it was closed. Because
    transactions in LME contracts require participants to make both
    initial margin deposits of cash or other assets and variation
    margin deposits, through the broker, directly with the LME,
    credit exposure is limited. Realized gains (losses) and changes
    in unrealized gains (losses) on metal contracts are included in
    the Statements of Income and Expenses.  f.
    Income and Expenses Recognition.  All of the
    income and expenses and realized and unrealized gains and losses
    on trading of commodity interests are determined on each
    valuation day and allocated pro rata among the Funds at the time
    of such determination.  g.
    Income Taxes.  Income taxes have not been
    provided as each partner is individually liable for the taxes,
    if any, on their share of the Masters income and expenses.   F-49




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
      h.
    Recent Accounting Pronouncements.  On
    March 19, 2008, Financial Accounting Standards Board
    released Statement of Financial Accounting Standards
    No. 161, Disclosures about Derivative Instruments and
    Hedging Activities (FAS 161).
    FAS 161 requires qualitative disclosures about objectives
    and strategies for using derivatives, quantitative disclosures
    about fair value amounts of and gains and losses on derivative
    instruments, and disclosures about credit-risk-related
    contingent features in derivative agreements. The application of
    FAS 161 is required for fiscal years beginning after
    November 15, 2008 and interim periods within those fiscal
    years. The standard expands the disclosure requirements for
    derivatives and hedged items and has no impact on how the Master
    accounts for derivatives (the Master does not have hedged
    items). Management is evaluating the enhanced disclosure
    requirements and does not believe that there will be any
    material impact on the financial statement disclosures.  3.
    Agreements:  a.
    Limited Partnership Agreement:    b.
    Management Agreement:    c.
    Customer Agreement:  give-up,
 F-50




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  4.
    Trading
    Activities:      5.
    Distributions
    and Redemptions:    6.
    Financial
    Highlights:    2008


2007


2006Net realized and unrealized gains (losses)*

$
1,393.37


$
367.31


$
469.47Interest income


27.26



68.30



56.79Expenses**


(1.10
)


(1.11
)


(1.81
)Increase (decrease) for the year


1,419.53



434.50



524.45Distribution of interest income to feeder funds


(27.26
)


(68.30
)


(56.79
)Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, beginning of year


1,971.42



1,605.22



1,137.56Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, end of year

$
3,363.69


$
1,971.42


$
1,605.22*    Includes clearing fees**   Excludes clearing fees   2008


2007


2006Ratios to Average Net Assets:Net investment income (loss)***


0.9
%


3.6
%


3.6
%Operating expenses


0.3
%


0.4
%


0.6
%Total return


72.0
%


27.1
%


46.1
%    ***
    
    Interest income less total expenses    7.
    Financial
    Instrument Risks:   F-51




---



##### 



CMF Altis
    Partners Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
           F-52




---



##### 



For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2008 to
    
    July 1, 2008 to
    
    April 1, 2008 to
    
    January 1, 2008  toDecember 31, 2008
    
    September 30, 2008
    
    June 30, 2008
    
    March 31, 2008Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    30,914,449
    
    
    $
    (15,270,584
    )
    
    $
    23,717,513
    
    
    $
    7,934,455Net income (loss)
    
    $
    30,905,495
    
    
    $
    (15,279,538
    )
    
    $
    23,708,108
    
    
    $
    7,924,950Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    982.42
    
    
    $
    (466.12
    )
    
    $
    684.52
    
    
    $
    218.71
 For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2007 to
    
    July 1, 2007 to
    
    April 1, 2007 to
    
    January 1, 2007 toDecember 31, 2007
    
    September 30, 2007
    
    June 30, 2007
    
    March 31, 2007Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    8,787,152
    
    
    $
    (2,288,039
    )
    
    $
    13,573,827
    
    
    $
    (3,638,889
    )Net income (loss)
    
    $
    8,774,894
    
    
    $
    (2,297,152
    )
    
    $
    13,564,950
    
    
    $
    (3,647,071
    )Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    235.02
    
    
    $
    (74.32
    )
    
    $
    395.24
    
    
    $
    (121.44
    )
 F-53




---



##### 



To the
    Limited Partners of
    CMF Aspect Master Fund L.P.
    
  By:
    Jennifer Magro      Citigroup Managed Futures LLC
    212-559-2011
 F-54




---



##### 



Report of Independent Auditors
 
   
 F-55




---



##### 



Report of Independent Registered Public Accounting Firm
 
     
 F-56




---



##### 



CMF
    Aspect Master Fund L.P.
 Statements
    of Financial Condition
    December 31, 2008 and 2007
  2008


2007Assets:Equity in commodity futures trading account:Cash (Note 3c)

$
213,611,724


$
172,348,954Cash margin (Note 3c)


18,981,887



26,790,029Net unrealized appreciation on open futures contracts


7,642,556



7,548,017Unrealized appreciation on open forward contracts


1,432,401



2,552,933241,668,568



209,239,933Interest receivable


3,530



411,956Total assets

$
241,672,098


$
209,651,889Liabilities and Partners Capital:Liabilities:Unrealized depreciation on open forward contracts

$
2,298,578



2,353,916Accrued expenses:Professional fees


15,657



21,488Distribution payable (Note 5)


3,530



411,956Redemption payable (Note 5)






4,169,309Total liabilities


2,317,765



6,956,669Partners Capital:General Partner, 0.0000 Unit equivalents at December 31,
    2008 and 2007






Limited Partners Capital, 125,803.5845 and 145,379.0375
    Redeemable Units of Limited Partnership Interest outstanding at
    December 31, 2008 and 2007, respectively


239,354,333



202,695,220Total liabilities and partners capital

$
241,672,098


$
209,651,889   See accompanying notes to financial statements.
 F-57




---



##### 



CMF
    Aspect Master Fund L.P.
 Schedule of
    Investments
 December 31, 2008
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
60,984



0.02
%Indices


2,573



0.00
*Interest Rates U.S.


2,077,625



0.87Interest Rates Non-U.S.


5,498,661



2.30Metals


16,820



0.01Softs


206,200



0.08Total futures contracts purchased


7,862,863



3.28Futures Contracts SoldEnergy


505,202



0.21Grains


(604,114
)


(0.25
)Indices


(146,058
)


(0.06
)Livestock


61,865



0.03Metals


31,653



0.01Softs


(68,855
)


(0.03
)Total futures contracts sold


(220,307
)


(0.09
)Net unrealized appreciation on open futures contracts


7,642,556



3.19Unrealized Appreciation on Open Forward ContractsCurrencies


1,384,014



0.58Metals


48,387



0.02Total unrealized appreciation on open forward contracts


1,432,401



0.60Unrealized Depreciation on Open Forward ContractsCurrencies


(1,743,244
)


(0.73
)Metals


(555,334
)


(0.23
)Total unrealized depreciation on open forward contracts


(2,298,578
)


(0.96
)Total fair value

$
6,776,379



2.83
%    *
    
    Due to rounding  See accompanying notes to financial statements.
 F-58




---



##### 



CMF
    Aspect Master Fund L.P.
 Schedule
    of Investments
    December 31, 2007
  % of PartnersFair Value


CapitalFutures Contracts PurchasedEnergy

$
1,962,673



0.97
%Grains


1,862,650



0.92Interest Rates U.S.


1,202,975



0.59Interest Rates Non-U.S.


1,031,546



0.51Indices


134,363



0.07Metals


574,260



0.28Softs


51,114



0.02Total futures contracts purchased


6,819,581



3.36Futures Contracts SoldEnergy


(330,950
)


(0.16
)Livestock


170,140



0.08Interest Rates Non-U.S.


676,237



0.33Indices


245,479



0.12Metals


(30,150
)


(0.01
)Softs


(2,320
)


(0.00
)*Total futures contracts sold


728,436



0.36Net unrealized appreciation on open futures contracts


7,548,017



3.72Unrealized Appreciation on Open Forward ContractsCurrencies


1,490,999



0.74Metals


1,061,934



0.52Total unrealized appreciation on open forward contracts


2,552,933



1.26Unrealized Depreciation on Open Forward ContractsCurrencies


(1,864,872
)


(0.92
)Metals


(489,044
)


(0.24
)Total unrealized depreciation on open forward contracts


(2,353,916
)


(1.16
)Total fair value

$
7,747,034



3.82
%    *
    
    Due to rounding  See accompanying notes to financial statements.
 F-59




---



##### 



CMF
    Aspect Master Fund L.P.
 Statements
    of Income and Expenses
    for the years ended December 31, 2008, 2007, and
    2006
  2008


2007


2006Income:Net gains (losses) on trading of commodity interests:Net realized gains (losses) on closed positions

$
69,752,159


$
20,714,242


$
17,726,947Change in net unrealized gains (losses) on open positions


(970,655
)


(2,250,581
)


5,369,829Gain (loss) from trading, net


68,781,504



18,463,661



23,096,776Interest income


2,247,200



7,517,273



7,531,039Total income (loss)


71,028,704



25,980,934



30,627,815Expenses:Clearing fees


302,515



431,717



453,387Professional fees


35,989



26,148



24,429Total expenses


338,504



457,865



477,816Net income (loss)

$
70,690,200


$
25,523,069


$
30,149,999Net income (loss) per Redeemable Unit of Limited Partnership
    Interest (Notes 1 and 6)

$
524.62


$
160.42


$
180.03   See accompanying notes to financial statements.
 F-60




---



##### 



CMF
    Aspect Master Fund L.P.

    Statements of Changes in Partners Capital
    for the years ended December 31, 2008, 2007, and
    2006
  PartnersCapitalPartners capital at December 31, 2005

$
194,826,943Net income (loss)


30,149,999Sale of 24,832.0192 Redeemable Units of Limited Partnership
    Interest


29,793,461Redemption of 29,585.6693 Redeemable Units of Limited
    Partnership Interest


(35,480,451
)Distribution of interest income to feeder funds


(7,531,039
)Partners capital at December 31, 2006


211,758,913Net income (loss)


25,523,069Sale of 12,102.0599 Redeemable Units of Limited Partnership
    Interest


15,485,588Redemption of 32,110.2714 Redeemable Units of Limited
    Partnership Interest


(42,555,077
)Distribution of interest income to feeder funds


(7,517,273
)Partners capital at December 31, 2007


202,695,220Net income (loss)


70,690,200Sale of 14,969.5777 Redeemable Units of Limited Partnership
    Interest


24,526,285Redemption of 34,545.0307 Redeemable Units of Limited
    Partnership Interest


(56,310,172
)Distribution of interest income to feeder funds


(2,247,200
)Partners capital at December 31, 2008

$
239,354,333Net Asset Value per Redeemable Unit of Limited Partnership
    Interest:   2006:

$
1,280.382007:

$
1,394.252008:

$
1,902.60
   See accompanying notes to financial statements.
 F-61




---



##### 



CMF
    Aspect Master Fund L.P.

    Notes to Financial Statements
    December 31, 2008
  1.
    Partnership
    Organization:             F-62




---



##### 



CMF
    Aspect Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  2.
    Accounting
    Policies:  a.
    Use of Estimates.The preparation of financial
    statements and accompanying notes in conformity with
    U.S. generally accepted accounting principles
    (GAAP) requires management to make estimates and
    assumptions that affect the reported amounts of assets and
    liabilities, income and expenses, and related disclosures of
    contingent assets and liabilities in the financial statements
    and accompanying notes. Actual results could differ from these
    estimates.b.
    Statement of Cash Flows.The Master has
    elected not to provide a Statement of Cash Flows as permitted by
    Statement of Financial Accounting Standards No. 102
    Statement of Cash Flows-Exemption of Certain Enterprises
    and Classification of Cash Flows from Certain Securities
    Acquired for Resale (FAS 102).c.
    Investments.All commodity interests of the
    Master (including derivative financial instruments and
    derivative commodity instruments) are held for trading purposes.
    The commodity interests are recorded on trade date and open
    contracts are recorded at fair value (as described below) at the
    measurement date. Investments in commodity interests denominated
    in foreign currencies are translated into U.S. dollars at
    the exchange rates prevailing at the measurement date. Gains or
    losses are realized when contracts are liquidated. Unrealized
    gains or losses on open contracts are included as a component of
    equity in commodity futures trading account on the Statements of
    Financial Condition. Realized gains or losses and any change in
    net unrealized gains or losses from the preceding period are
    reported in the Statements of Income and Expenses.  Fair Value Measurements. Fair Value Measurements No. FAS 157-2, Effective Date of FASB Statement No. 157
    F-63




---



##### 



CMF
    Aspect Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
  Quoted Prices inActive Markets


Significant Other


Significantfor Identical


Observable Inputs


Unobservable12/31/2008


Assets (Level 1)


(Level 2)


Inputs (Level 3)AssetsFutures

$
7,642,556


$
7,642,556


$



$
Forwards


1,432,401



48,387



1,384,014



Total assets


9,074,957



7,690,943



1,384,014



LiabilitiesForwards

$
2,298,578


$
555,334


$
1,743,244


$
Total liabilities


2,298,578



555,334



1,743,244



Total fair value

$
6,776,379


$
7,135,609


$
(359,230
)

$
   d.
    Futures Contracts.The Master trades futures
    contracts. A futures contract is a firm commitment to buy or
    sell a specified quantity of investments, currency or a
    standardized amount of a deliverable grade commodity, at a
    specified price on a specified future date, unless the contract
    is closed before the delivery date or if the delivery quantity
    is something where physical delivery can not occur (such as
    S&P 500 Index), whereby such contract is settled in cash.
    Payments (variation margin) may be made or received
    by the Master each business day, depending on the daily
    fluctuations in the value of the underlying instruments, and are
    recorded as unrealized gains or losses by the Master. When the
    contract is closed, the Master records a realized gain or loss
    equal to the difference between the value of the contract at the
    time it was opened and the value at the time it was closed.
    Because transactions in futures contracts require participants
    to make both initial margin deposits of cash or other assets and
    variation margin deposits, through the futures broker directly
    with the exchange on which the contracts are traded, credit
    exposure is limited. Realized gains (losses) and changes in
    unrealized gains (losses) on futures contracts are included in
    the Statements of Income and Expenses.  e.
    Forward Foreign Currency Contracts.Foreign
    currency contracts are those contracts where the Master agrees
    to receive or deliver a fixed quantity of foreign currency for
    an
    agreed-upon
    price on an agreed future date. Foreign currency contracts are
    valued daily, and the Masters net equity therein,
    representing unrealized gain or loss on the contracts as
    measured by the difference between the forward foreign exchange
    rates at the dates of entry into the contracts and the forward
    rates at the reporting date, is included in the Statements of
    Financial Condition. Realized gains (losses) and changes in
    unrealized gains (losses) on foreign currency contracts are
    recognized in the period in which the contract is closed or the
    changes occur, respectively, and are included in the Statements
    of Income and Expenses.  f.
    London Metals Exchange Forward
    Contracts.  Metal contracts traded on the London
    Metals Exchange (LME) represent a firm commitment to
    buy or sell a specified quantity of Aluminum, Copper, Lead,
    Nickel, Tin or Zinc. LME contracts traded by the Master are cash
    settled based on prompt dates published by the LME. Payments
    (variation margin) may be made or received by the
    Master each business day, depending on the daily fluctuations in
    the value of the underlying contracts, and are recorded as
    unrealized gains or losses by the Master. A contract is
    considered offset when all long positions have been matched with
    short positions. When the contract is closed at the prompt date,
    the Master records a realized gain or loss equal to the
    difference between the value of the contract at the time it was
    opened and the value at the time it was closed. Because
    transactions in LME contracts require participants to make both
    initial margin deposits of cash or other assets and variation
    margin deposits, through the broker, directly with the LME,
    credit exposure is limited. Realized gains (losses) and changes
    in unrealized gains (losses) on metal contracts are included in
    the Statements of Income and Expenses. F-64




---



##### 



CMF
    Aspect Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
   g.
    Income and Expenses Recognition.All of the
    income and expenses and realized and unrealized gains and losses
    on trading of commodity interests are determined on each
    valuation day and allocated pro rata among the Funds at the time
    of such determination.h.
    Income Taxes.Income taxes have not been
    provided as each partner is individually liable for the taxes,
    if any, on their share of the Masters income and expenses.      i.
    Recent Accounting Pronouncements.On
    March 19, 2008, Financial Accounting Standards Board
    released Statement of Financial Accounting Standards
    No. 161, Disclosures about Derivative Instruments and
    Hedging Activities (FAS 161).
    FAS 161 requires qualitative disclosures about objectives
    and strategies for using derivatives, quantitative disclosures
    about fair value amounts of and gains and losses on derivative
    instruments, and disclosures about credit-risk-related
    contingent features in derivative agreements. The application of
    FAS 161 is required for fiscal years beginning after
    November 15, 2008 and interim periods within those fiscal
    years. The standard expands the disclosure requirements for
    derivatives and hedged items and has no impact on how the Master
    accounts for derivatives (the Master does not have hedged
    items). Management is evaluating the enhanced disclosure
    requirements and does not believe that there will be any
    material impact on the financial statement disclosures.  3.
    Agreements:  a.
    Limited Partnership Agreement:    b.
    Management Agreement:    c.
    Customer Agreement:  give-up,
 F-65




---



##### 



CMF
    Aspect Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
    4.
    Trading
    Activities:      5.
    Distributions
    and Redemptions:    6.
    Financial
    Highlights:    2008


2007


2006Net realized and unrealized gains (losses)*

$
508.62


$
114.03


$
135.44Interest income


16.27



46.55



44.74Expenses**


(0.27
)


(0.16
)


(0.15
)Increase (decrease) for the year


524.62



160.42



180.03Distribution of interest income to feeder funds


(16.27
)


(46.55
)


(44.74
)Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, beginning of year


1,394.25



1,280.38



1,145.09Net Asset Value per Redeemable Unit of Limited Partnership
    Interest, end of year

$
1,902.60


$
1,394.25


$
1,280.38    *
    
    Includes clearing fees**
    
    Excludes clearing fees 2008


2007


2006Ratios to Average Net Assets:Net investment income (loss)***


0.9
%


3.3
%


3.5
%Operating expenses


0.2
%


0.2
%


0.2
%Total return


37.6
%


12.5
%


15.7
%    ***
    
    Interest income less total expenses F-66




---



##### 



CMF
    Aspect Master Fund L.P.
    Notes to Financial Statements
    December 31, 2008
     7.
    Financial
    Instrument Risks:           F-67




---



##### 



For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2008 to
    
    July 1, 2008 to
    
    April 1, 2008 to
    
    January 1, 2008 toDecember 31, 2008
    
    September 30, 2008
    
    June 30, 2008
    
    March 31, 2008Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    46,521,870
    
    
    $
    (19,743,784
    )
    
    $
    14,513,377
    
    
    $
    29,434,726Net income (loss)
    
    $
    46,511,766
    
    
    $
    (19,753,889
    )
    
    $
    14,503,460
    
    
    $
    29,428,863Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    363.39
    
    
    $
    (148.72
    )
    
    $
    106.51
    
    
    $
    203.44
 For the
    
    For the
    
    For the
    
    For theperiod from
    
    period from
    
    period from
    
    period fromOctober 1, 2007 to
    
    July 1, 2007 to
    
    April 1, 2007 to
    
    January 1, 2007 toDecember 31, 2007
    
    September 30, 2007
    
    June 30, 2007
    
    March 31, 2007Net realized and
unrealized trading
gains (losses) net
of brokerage
commissions and
clearing fees
including interest
income
    
    $
    14,896,548
    
    
    $
    (14,493,042
    )
    
    $
    34,069,186
    
    
    $
    (8,923,475
    )Net income (loss)
    
    $
    14,892,989
    
    
    $
    (14,499,836
    )
    
    $
    34,061,861
    
    
    $
    (8,931,945
    )Increase (decrease)
in Net Asset Value
per Redeemable Unit
    
    $
    97.45
    
    
    $
    (90.31
    )
    
    $
    207.47
    
    
    $
    (54.19
    )
 F-68




---



##### 



Item 9. Changes in and Disagreements with Accountants on Accounting and Financial
Disclosure .
    Item 9A(T). Controls and Procedures.
    internal control over financial reporting
 
    
    pertain to the maintenance of records that in reasonable detail accurately and fairly
reflect the transactions and dispositions of the assets of the Partnership;
    
    provide reasonable assurance that (i) transactions are recorded as necessary to
permit preparation of financial statements in accordance with GAAP, and (ii) the Partnerships receipts are handled and expenditures
are made only pursuant to authorizations of the General Partner; and
    
    provide reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use or disposition of the Partnerships assets that could have a material
effect on the financial statements.
 Financial Statements and Supplementary
Data
  Item 9B. Other Information .
  33




---



##### 



PART III
 Item 10. Directors, Executive Officers and Corporate Governance.
   Item 11. Executive Compensation .
 Business
 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
Matters .
 (a)
    
    Security ownership of certain beneficial owners. As of
February 28, 2009, the
Partnership knows of no person who beneficially owns more than 5% of the outstanding
Redeemable Units.(b)
    
    Security ownership of management. Under the terms of the Limited Partnership
Agreement, the Partnerships affairs are managed by the General Partner. The General
Partner owns Units of general partnership interest equivalent to 421.6204 (2.3%)
Redeemable Unit equivalents as of December 31, 2008.(c)
    
    Changes in control. None.
 Item 13. Certain Relationships and Related Transactions, and Director Independence .
 Business Financial Statements and
Supplementary Data Executive Compensation
 Item 14. Principal Accountant Fees and Services .
 Audit Fees
 PwC
    
    $
    24,000KPMG
    
    $
    16,000
 Audit-Related Fees
 Tax Fees
 PwC
    
    $
    17,000KPMG
    
    $
    22,000
 All Other Fees
   34




---



##### 



PART IV
 Item 15. Exhibits and Financial Statement Schedules .
 (a)(1)
    
    Financial Statements:Statements of Financial Condition at December 31, 2008 and 2007.Schedules of Investments at December 31, 2008 and 2007.Statements of Income and Expenses for the years ended December 31, 2008, 2007 and 2006.Statements of Changes in Partners Capital for the years ended December 31, 2008, 2007 and
2006.Notes to the Financial Statements(2) Exhibits:3.1 Limited Partnership Agreement (filed as Exhibit 3.1 to the Registration Statement on
Form S-1 (File No. 333-61961 and incorporated herein by reference).3.2 Certificate of Limited Partnership of the Partnership as filed in the office of the
Secretary of State of the State of New York on June 15, 1998 (filed as Exhibit 3.2 to the
Registration Statement on Form S-1 (File No. 333-61961) and incorporated herein by
reference).10.1 Customer Agreement between the Partnership and Salomon Smith Barney (filed as Exhibit
10.1 to the Registration Statement on Form S-1 (File No. 333-61961) and incorporated herein
by reference).10.3 Escrow Instructions relating to escrow of subscription funds (filed as Exhibit 10.3 to
the Registration Statement on Form S-1 (File No. 333-61961) and incorporated herein by
reference).10.5 Management Agreement among the Partnership, the General Partner and Campbell & Company,
Inc. (filed as Exhibit 10.5 to the Registration Statement on Form S-1 (File No. 333-61961)
and incorporated herein by reference).10.6 Management Agreement among the Partnership, the General Partner and Eagle Trading
Systems, Inc. (filed as Exhibit 10.6 to the Registration Statement on Form S-1 (File No.
333-61961) and incorporated herein by reference).10.7 Management Agreement among the Partnership, the General Partner and Eckhardt Trading
Company (filed as Exhibit 10.7 to the Registration Statement on Form S-1 (File No.
333-61961) and incorporated herein by reference).10.8 Management Agreement among the Partnership, the General Partner and Rabar Market
Research (filed as Exhibit 10.8 to the Registration Statement on Form S-1 (File No.
333-61961) and incorporated herein by reference).10.9 Letter extending Management Agreements with Campbell & Company, Inc., Eagle Trading
Systems, Inc., Eckhardt Trading Company and Rabar Market Research for 1999 (previously
filed).10.10 Letter extending Management Agreements with Campbell & Company, Inc., Eagle Trading
Systems, Inc., Eckhardt Trading Company and Rabar Market Research for 2000 (previously
filed).10.11 Letter extending Management Agreements with Campbell & Company, Inc., Eckhardt Trading
Company and Rabar Market Research Inc. for 2001 (previously filed).10.12 Management Agreement among the Partnership, the General Partner and Aspect Capital
Management Limited (previously filed).10.13 Letters from the General Partner terminating Management Agreement with Eagle Trading
Systems, Inc. and Rabar Market Research Inc. (previously filed).
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10.14 Letter extending Management Agreements with Campbell & Company Inc., Eckhardt Trading
Company and Aspect Capital Management Limited for 2002 (previously filed).10.15 Letter Extending Management Agreements with Compbell & Company Inc., and Aspect
Capital Management Limited for 2003 (previously filed).10.16 Letter from the General Partner terminating Management Agreement with Eckhardt Trading
Company (previously filed).10.17 Letters extending Management Agreements with Campbell & Company Inc. and Aspect
Capital Management Limited for 2004 (previously filed).10.18 Management Agreement among the Partnership, the General Partner and Altis Partners
Limited (previously filed).10.19 Letters extending Managements with Campbell & Company, Inc., Aspect Capital Management
Limited and Altis Partners Limited for 2005 (previously filed).10.20 Letters extending Managements with Campbell & Company, Inc., Aspect Capital Management
Limited and Altis Partners Limited for 2006 (previously filed).10.21 Letters extending Managements with Campbell & Company, Inc., Aspect Capital Management
Limited and Altis Partners Limited for 2007 (previously filed).10.22 Letters extending Managements with Campbell & Company,
 Inc., Aspect Capital Management
Limited and Altis Partners Limited for 2008 (filed herein).10.23 Management Agreement among
the Partnership, the General Partner and Waypoint Capital Management LLC (filed herein).23.1 Consent from KPMG LLP dated
March 26, 2009 (filed herein).The exhibits required to be filed by Item 601 of Regulation S-K are incorporated herein by
reference.31.1  Rule 13a-14(a)/15d-14(a) Certifications (Certifications of President and Director).31.2  Rule 13a-14(a)/15d-14(a) Certifications (Certifications of Chief Financial Officer
and Director).32.1  Section 1350 Certifications (Certifications of President and Director).32.2  Section 1350
Certifications (Certifications of Chief Financial Officer and Director).
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SIGNATURES
 st
 CITIGROUP GLOBAL DIVERSIFED FUTURES FUND L.P.By:
    /s/ Citigroup Managed Futures LLC(General Partner)By:
    /s/ Jerry PascucciJerry Pascucci, President & Director  /s/ Jerry Pascucci

Jerry Pascucci
    
    
    
    /s/ Shelley Deavitt Ullman

Shelley Deavitt UllmanPresident and Director
    
    
    
    Director/s/ Jennifer Magro
    
    
    
    /s/ Ihor RakowskyJennifer Magro
    
    
    
    Ihor RakowskyChief
Financial Officer and 
Director
    
    
    
    Secretary and Director/s/ Steve Ciampi
    
    
    
    /s/ Daryl DewbreySteve Ciampi
    
    
    
    Daryl DewbreyDirector
    
    
    
    Director/s/ Raymond NolteRaymond NolteDirector
    37