Cargo Network Services Selects Citibank as its B2B E-Billing Provider.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 11, 2002

Citibank(R) e-Business, a unit of Citigroup, the preeminent global financial services company (NYSE: C), today announced that Cargo Network Services Corp. (CNSC), a subsidiary of International Air Transport Association (IATA), has selected Citibank as its provider of electronic invoice presentment and payment services.

"CNSC chose Citibank e-Billing to significantly improve the efficiency over our current billing method," said Tony Calabrese, President of CNSC. "This Web-based solution will modernize and streamline the entire invoicing process, allowing us to extend these benefits to both airlines and cargo agents."

With Citibank e-Billing, companies can present invoices to their customers, who can then make adjustments, obtain approvals, process and settle the bill - all online. Immediate access to invoice information online allows customers to reduce their costs as well as the time associated with paper-based billing and payment. This process enables customers to shorten Days Sales Outstanding (DSO), thereby improving working capital.

"This agreement is a significant milestone toward our goal of providing our customers with Web-based solutions that help them improve internal efficiencies while helping their customers realize the benefits of the Internet," said Norberto Spangaro, Americas Region Head for Citibank e-Business. "CNSC will be able to streamline the receivables process and enhance the trading relationships between airlines and cargo agents, while offering Cargo Account Settlement System participants a secured transaction point for the entire electronic invoice presentment and payment process."

CNSC administers the U.S.-based Cargo Agency Program and Cargo Account Settlement System (CASS-USA) on behalf of participating airlines. The company processes more than $3 billion annually from cargo agents on behalf of airlines, providing centralized invoicing and dispute management services that support virtually the entire U.S. international air cargo industry. Through Citibank e-Billing B2B, CNSC will now be able to present invoices electronically, streamline the reconciliation process for billers and payers, and offer the ability to make secure Internet-based payments.

Citibank e-Billing B2B is powered by Bottomline Technologies(R) (NASDAQ: EPAY), a leading global technology provider of Financial Resource Management (FRM) software. Citibank e-Billing B2B provides CNSC with a comprehensive end-to-end solution including online presentment and payment, automated workflow and online billing correction. CNSC will convert its Cargo Account Settlement System from a manual to an electronic billing system in two phases. In the first phase, CNSC will implement online invoice presentment, in which cargo agents will be able to view their invoices via the Internet. In the second phase, CNSC will add online adjudication and payment capabilities.

About Cargo Network Services Corp.

Cargo Network Services Corporation (CNSC) was formed in 1985 to address the rapidly evolving air cargo industry in the United States. As a wholly owned subsidiary of the International Air Transport Association (IATA), it complies with U.S. regulatory requirements and addresses the challenges of the fast paced, entrepreneurial characteristics of the North America marketplace. CNSC offers its airline and cargo agent participants a range of products and services that cater to industry requirements in an efficient and cost-effective manner. Additional information may be found at www.cnsc.net

About Citigroup

Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides 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. Additional information may be found at: www.citigroup.com

About Citibank e-Business

Citibank e-Business provides solutions that empower corporations and financial institutions globally to connect to the Web, transform their business using Internet-related technologies and extend their reach to new markets. Our solutions support our customers as they integrate their Internet-based exchanges, software solutions, logistics, and financial services with existing, end-to-end, liquidity management, investment, cash management and trade finance processes. Additional information may be found at: www.e-business.citibank.com

About Bottomline Technologies

Bottomline Technologies(R) (Nasdaq: EPAY) is a leading global technology provider of Financial Resource Management (FRM) software and services. Bottomline's comprehensive Suite of FRM offerings enable businesses and financial institutions to more effectively manage their critical financial transactions, cash decisions and trading partner relationships, leveraging the Web. FRM Applications include Electronic Payments and Cash Management, Electronic Invoice Receipt and Management, Electronic Invoice Presentment and Payment (EIPP), Electronic Banking and Information Reporting. Founded in 1989, Bottomline maintains its corporate headquarters in Portsmouth, NH and international headquarters in Reading, England. For more information, visit Bottomline on the Web at www.bottomline.com, or dial [phone] or [phone].