CitiStreet Rolls Out Multi-Domain Service With American Family; One-Stop Shopping Provided With TRO and Health and Welfare Administration.

QUINCY, Mass. -- CitiStreet is providing full defined contribution and defined benefit administration, along with health and welfare services to American Family Insurance, the nation's third-largest mutual property and casualty insurer, it was announced today.

The agreement marks an expansion of the companies' long-standing business partnership; CitiStreet has provided defined contribution benefits outsourcing services to American Family Insurance since 1994.

Under the new agreement, CitiStreet will continue to perform administration for American Family's defined contribution plans, and add administration services for the defined benefit and health and welfare plans. Services also include a contact center and communications and education for the 8,300 employees in the plan.

Sandy McCarthy, CitiStreet president of Retirement Services, noted that the service for American Family provides defined contribution and defined benefit administration on a single platform, along with integrated health and welfare services.

This new and adaptable technology allows CitiStreet to offer a Total Retirement Outsourcing (TRO) solution to a broader array of clients; previous industry offerings have mainly limited such combined service only to the very largest institutions.

"We value the relationship we have developed over the years with American Family," said McCarthy, adding that the integration of benefit servicing "is a large part of the future of our industry, where clients now have sometimes 10 or more vendors serving their various benefit needs."

About CitiStreet

CitiStreet, one of the largest global benefits delivery firms in the United States, is headquartered in Quincy, Mass. CitiStreet has 3,000 employees at offices in Somerset, N.J., Jacksonville, Fla., Lewiston, Maine, Boston and field offices around the nation. It also has a division, CitiStreet Australia, with offices in Sydney, Brisbane and Melbourne. CitiStreet serves more than 9 million participants and administers approximately $200 billion in assets in the United States for defined contribution, defined benefit and health and welfare plans of corporate, government, health care, Taft-Hartley and not-for-profit organizations. It also serves about 1 million participants and administers about $9 billion in assets outside the United States. CitiStreet is a 50/50 joint venture between State Street Corp. (NYSE:STT) and Citigroup (NYSE:C). For more CitiStreet information, visit the Web site at www.citistreetonline.com.