EFTA Document EFTA01376142

Clear Lake CLO, Ltd. Clear Lake CLO, Corp. U.S. $343.000.000 Class A-1 Floating Rate Senior Notes Due 2020 U.S. S21.500,000 Class A-2 Floating Rate Senior Notes Due 2020 U.S. $27,000,000 Class B Floating Rate Delbnable Senior Subordinate Notes Due 2020 U.S. 520,000,000 Class C Floating Rate Deferrable Senior Subordinate Notes Due 2020 U.S. $15,500,000 Class D Floating Rate Deferrable Subordinate Notes Due 2020 U.S. $36,750,000 Income Notes Due 2020 OFFERING CIRCULAR JANUARY 17, 2007 Citigroup CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0072027 CONFIDENTIAL SDNY_GM_00218211 EFTA01376142