Citibank Expands Distribution and Customer Reach with Internet Bank; Citibank Direct to Offer Full Menu of Products and Services, Expanding Citibank's Distribution Capabilities and Retail Customer Base across the United States.

NEW YORK -- Citibank today significantly expanded its retail distribution capability with the launch of Citibank Direct, an online bank that offers consumers located anywhere in the United States quick and convenient access to all of Citibank's products and services. With real-time decision-making and identification verification, consumers anywhere can now open an account in less than 10 minutes. The new offering is yet another example of Citibank's tradition of innovation. It is also part of Citibank's broader effort to enhance its distribution, giving customers access to financial services through any channel they want, no matter where they are. In addition to Citibank Direct, Citibank plans to open 100 new branches in 2006 and launch Citi Mobile, a mobile phone banking service, later this year.

"We are thrilled to launch Citibank Direct, a major part of our commitment to ensure that customers can reach us anywhere, any time, and in any way that they want to do business with us," said Catherine Palmieri, Managing Director, Citibank.com. "Now consumers inside and outside our branch network can quickly and easily become Citibank customers and take advantage of our award-winning online banking and superior products and services, such as our robust money movement capability, instant account opening, and soon Citi Mobile."

Unlike other Internet banks, Citibank Direct now offers customers a complete banking relationship, with all the products and services to meet their needs. In addition to some of the market's best rates on savings products, it offers checking accounts, debit and credit cards, and access to Citibank's more than 900 branches and 3,100 ATMs. Customers can also check balances, pay bills, transfer money, and open new accounts - all with a click of a mouse.

Already, 40% of the customers who open accounts on Citibank.com, Citibank's award-winning online banking platform, live outside of the bank's branch network areas. Through its Internet bank, Citibank hopes to reach many more customers looking for superior products and seeking to bank online.

"With all Citibank has to offer, we believe that Citibank Direct will be by far the best Internet bank in the market," said Ray Quinlan, President & CEO of Retail Distribution North America for Citigroup. "By opening branches, offering a nationwide Internet bank, and providing innovative services such as ThankYou Network and PayPass, Citibank is responding to consumer demand for greater ease and convenience through alternative distribution channels."

About Citibank

Citibank is a member of Citigroup (NYSE: C), the leading global financial services company that 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, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at: www.citigroup.com.