Citibank Awards $750,000 Grant to NeighborWorks America for Homebuyer Education and Counseling -NCHEC- Program; NeighborWorks America Estimates That Grant Will Result in 14,650 New Homeowners Over the Next Three Years.

Citibank 

Who: Maura Markus, President of the Citibank Retail Distribution
        Group; Ken Wade, Chief Executive Officer of NeighborWorks(R)
        America; Jayna Bower, Senior Manager of the NeighborWorks(R)
        Center for Homeownership Education and Counseling (NCHEC); and
        30 NCHEC graduates from New York City, who will have just
        completed the counselor training program.

   Where: Citibank Building
          One Court Square, 4th floor Atrium
          Long Island City, NY

   When: Friday, May 20, 2005, 12:30 PM

   What: Citibank will present a $750,000 grant from the Citigroup
        Foundation to NeighborWorks(R) America (formerly Neighborhood
        Reinvestment Corporation) in support of its NeighborWorks(R)
        Center for Homeownership Education and Counseling (NCHEC). The
        presentation will take place on Friday, May 20, at an event
        honoring 30 New York City NCHEC graduates, who will have just
        completed the intensive week-long training program.
        NeighborWorks(R) America, an industry leader in homeownership
        education and counseling training, launched NCHEC to help
        address the growing demand for training, standards, and
        certifications within the homebuyer education and counseling
        industry. NeighborWorks(R) committed to tripling the number of
        homeownership counselors and educators trained and certified
        to reach more than 2 million consumers each year by 2007. The
        Citigroup Foundation grant will help train 570 counselors over
        a three-year period and will result in an estimated 14,650 new
        homeowners.

   RSVP: Media who wish to attend please contact Helen Steblecki at
        718-248-4694.