ADVISORY/Citibank and BRIDGE Housing Celebrate Creation of 341 Affordable Family and Senior Citizen Housing Units at North Beach Place.

News Editors/Business Editors/Assignment Desks

ADVISORY...for Tuesday (June 17th)

--(BUSINESS WIRE)

Mayor Willie Brown and Citigroup's Marge Magner To Host

Block Party Event on June 17 to Commemorate $102 Million Project

Who: San Francisco Mayor Willie Brown, Citigroup's Global Consumer Group's COO Marge Magner, Citibank's Western Division President Mike Weitzman, representatives from the North Beach Place development team working in partnership with the San Francisco Housing Authority -- BRIDGE Housing Corporation, The John Stewart Company, and Em Johnson Interest -- and many other senior Citigroup executives and community leaders.

Where: 500 Francisco Street, between Mason and Taylor Streets, near San Francisco's Fisherman's Wharf

When: Tuesday, June 17, 2003, 10 a.m. - 12 p.m.

What: North Beach Place's lead conventional construction and permanent lender, Citibank, will host a Block Party event to celebrate the creation of a new community landmark. The event will include entertainment, awards presentations, comments from Mayor Brown and other officials, information booths and samples from neighborhood restaurants.

North Beach Place is new construction that will provide 341 affordable apartments for low-income families and senior citizens, 17,000 square feet of commercial space, a Trader Joe's Market, incubator space for local entrepreneurs, a community center and child-care services. The new development replaces a run-down, 50-year-old public housing project.

North Beach Place's total projected construction cost is $102 million. Citibank has provided interim financing of $56 million, of which $24 million will convert to permanent financing at the completion of construction. This is one of many community-revitalizing projects across the country that Citibank has helped make possible. Additional construction financing totaling $46 million has come from the San Francisco Housing Authority, the San Francisco Mayor's Office of Housing and Related Capital.

RSVP: Media who wish to attend must RSVP.