Brandeis University Study Finds That the Do Something Financial Education Challenge Sponsored by Citigroup is an Effective and Engaging Way to Teach Students about Personal Finance.

NEW YORK -- Almost 13,000 Players, over 1,000 Teachers, and an Estimated 30,000 Students Learn from the Challenge

According to an independent study by Brandeis University, the 2004 Financial Education Challenge, a two-week financial education program geared to students in grades K-12, was an effective and engaging way to teach students about personal finance. Of the educators and students who participated in the survey, 90% of educators rated the Challenge experience as "good" or "excellent" and 87% of students reported that they learned a lot about personal finance. To date, almost 13,000 young people have played the game. Over 1,000 teachers have used the curricula, resulting in an estimated 30,000 students benefiting from the curricula.

Sponsored by a grant from the Citigroup Foundation, the Challenge teaches youth the basics of money management through innovative curricula and a corresponding online game. The Challenge was presented by Do Something, which celebrates and unleashes the power of young people to take action and change their world, and Citigroup, the preeminent global financial services company. The program kicked off on tax day, April 14, 2004, and will remain free and accessible until December 2004, via Do Something's website at www.dosomething.org.

Mark DiDonato, a teacher at the St. Aloysius Catholic School in New York City, said: "The Financial Education Challenge was extremely engaging for my students, allowing them to make choices about money and see the consequences, both positive and negative, shortly thereafter. My students seemed to think that money grew on trees: however, after playing the game and learning the curriculum, they realized how all of their choices in daily life affect their personal wealth and achieving goals they may have for themselves. Overall, a great game!"

"By participating in the Challenge and learning how to make informed choices about money, credit and investments, students are getting an education that will serve them well for the rest of their lives," said Dara Duguay, Director of Citigroup's Office of Financial Education.

According to the study, conducted by the Center for Youth and Communities at Brandeis University's Heller School for Social Policy and Management, educators who participated in the Challenge felt that it greatly increased students' knowledge of personal finance.

--90% of teachers reported that students liked doing the Challenge activities and that students gained a greater understanding of the importance of savings.

--Educators also reported gains in students' decision-making skills, as well as a better understanding of the difference between saving and investing.

Students also thought highly of the Challenge, both in terms of how much fun they had and how much they learned.

--87% of students felt they learned a lot about managing their money and making good financial decisions.

--Over 90% of the students reported that the game helped them understand the impact that their choice of a job would have; how decisions made now would affect their future; and the importance of having a financial plan.

--85% or more reported that the game helped to convince them to start saving now; recognize the importance of saving rather than spending and 'saving for a rainy day;" understand how their actions could help or hurt the community; and better understand what they should keep in mind when making financial decisions.

--80% or more reported that the game helped them learn how to make a budget; how to distinguish between different investment instruments (CDs, etc.); and to understand the importance of helping nonprofits in the community.

--94% of students who participated in the online game enjoyed it; 87% would like to play it again next year; and 84% would recommend it to a friend.

The Financial Education Challenge, accessed via www.dosomething.org, is set up in two portions, "learning" and "doing." The "learning" portion includes a free, downloadable, age-appropriate curriculum that teaches students about money management, personal finance, taxes, credit and budgeting. The "doing" portion consists of an online game that allows young people to choose a career and a lifestyle and then throws curve balls over a 10-day period (such as the loss of a job, paying to repair a leaky roof, paying for their children's braces, etc.). The game assists players with analyzing their choices and figuring out how to make better financial decisions.

Recently, Citigroup and the Citigroup Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 275,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.

Do Something celebrates and unleashes the power of young people to take action and change their world by ensuring that they have the role models, resources, and mentors to do something. Do Something's programs focus on the core areas of community building, health, and the environment. For more information about Do Something, visit www.dosomething.org.

The Citigroup Foundation's sponsorship of Do Something's Financial Education Challenge is part of the Citigroup Financial Education Program, a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citigroup and the Citigroup Foundation's recently announced 10-year, $200 million global financial education commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup's Financial Education Program, including Foundation guidelines, links and resources, including the Citigroup Financial Education Program Curriculum and Facilitator's Guide may be found at: financialeducation.citigroup.com.

Citigroup (NYSE:C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information may be found at www.citigroup.com. The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information may be found at www.citigroup.com.