Citibank's Worldwide Securities Services Awarded ISO 9002 Certification in Six Markets in Asia.

HONG KONG/SINGAPORE/NEW YORK/LONDON--(BUSINESS WIRE)--Jan. 12, 1999--Citibank Worldwide Securities Services (WWSS) has received the International Organization for Standardization's (ISO) 9002 Certificate for the provision of securities services to the bank's international and domestic investor clients through six of its branches in Asia - Hong Kong, Singapore, Korea, Thailand, Taiwan, and India. The bank's global custody operations in Hong Kong were also ISO 9002 certified, the first such custodian to receive the distinction. The certificate program applies only to the securities services business in Asia.

"Citibank is proud to be awarded the ISO 9002 certification in these 6 important markets," said Anthony Galliano, the WWSS Region Head for Asia. "The certification is an endorsement of our long-term commitment to provide unsurpassed quality and service to our clients. We are also particularly pleased that our Hong Kong global custody operations was certified. To our knowledge, Citibank is the first global custody operation in this market to be awarded ISO 9002 certification."

The certification follows an exhaustive assessment of Citibank's securities services operations in Hong Kong, Singapore, Korea, Thailand, and Taiwan by the Singapore Productivity and Standards Board and in India by KPMG. The assessments are based on a series of criteria developed by the International Organization for Standardization, which specifies requirements and makes recommendations for the design and assessments of financial operations management systems.

"The certification benefits our clients as they can be assured of receiving consistent, high quality service from Citibank," said Mr. Galliano. "Historically, WWSS has focused on internal standards of quality through audits and other quality programs. In 1998 however, we decided to embrace the Citicorp Quality Policy which pursues certain internationally recognized quality standards. We will continue to seek certification in other Asian markets."

"Quality is a cornerstone of our securities services operation in Hong Kong," noted Richard Simmonds, the bank's Securities Business Manager in Hong Kong. "Quality assurance is applied to every aspect of the process, so the final outcome is an outstanding product or service for our customers."

Citibank's Worldwide Securities Services is the global leader in cross-border securities services with US$3 trillion in assets under administration. With operations in 100 countries, including 21 in Asia, Citibank boasts the industry's largest proprietary network spanning 50 countries. It consistently ranks as the premier choice for securities services in more markets than any other bank, according to industry surveys. Investment managers, broker-dealers, and global custodians rely on Citibank for authoritative market intelligence, state-of-the-art processing capabilities, and responsive client service.

WWSS is one of the bank's fastest growing businesses with revenue growth of more than 20% in 1997. A leader in virtually every market served, Citibank offers corporate and institutional clients the full spectrum of settlement, safekeeping, securities lending, corporate trust, funds administration, and depositary receipt services on a global basis.