Oxidized carbon nanotubes have been reacted with Wilkinson's complex. It has been found that the Rh metal coordinates to these nanotubes through the increased number of oxygen atoms, forming a hexacoordinate structure around the Rh atom. The reaction process increases oxidized nanotube solubility in DMSO (>150 mg/L) as well as to acertain extent in DMF and THF. The functionalization process results in exfoliation of larger bundles of SWNTs and may select for the presence of distributions of smaller-diameter tubes. Optical data on the derivatized adducts suggest the possibility of interesting charge-transfer behavior across the metal-nanotube interface. An application has been made of this system as supports for homogeneous catalysis.