Picosecond time-resolved IR-UV pump-probe spectroscopy has been performed to study intracluster vibrational energy redistribution (ICVR) and vibrational predissociation (VP) for the OH and CH stretch vibrations of phenol-ethylene hydrogen-bonded cluster. The transient UV spectra after the picosecond IR pulse excitation of these modes were observed by 1+1 REMPI via S₁ with a picosecond UV pulse. We have focused on the difference of the energy flow routes and their rates between the donor (phenol) and the acceptor (ethylene) site. Though the transient UV spectra showed a similar broad feature for all the vibrations examined, the time profiles exhibited a remarkable site dependence, as well as substantial mode dependence. Especially, we found a large difference in the early stage of the IVR evolution and the rates, whereas the VP rates were very similar.