Citibank Helps Families Take Charge Of College Savings, Launches The Citi Upromise Platinum Select MasterCard; New Credit Card With No Annual Fee Makes Saving for College Even Easier.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001

Citibank, in its commitment to helping consumers spend wisely, today launched the new Citi(R) Upromise(TM) Platinum Select(R) MasterCard(R), offering an easier way for families to convert purchasing power into college contributions.

This initiative marks a significant advance in Citi's cornerstone relationship with Upromise, a revolutionary savings network connecting some of America's leading corporations with families saving for college.

With the no-fee Citi Upromise Card, not only will families add value to their hard-earned money but also find that the daunting task of saving for college has been made easier than ever. Cardholders receive 1% of eligible purchases made on the card as college contributions into their Upromise account for their children, grandchildren or any other future college student they wish to support.(1) College contributions can be invested in a tax-advantaged 529 college savings plan managed by top investment managers, like Salomon Smith Barney.(2)

"Citi is offering consumers an answer to easing the financial burden of reaching their college saving goals," says Citi Cards Managing Director Peter Knitzer. "With the Citi Upromise Card, we can help parents fulfill the dream of a college education for their children through their everyday purchases."

The ever-escalating costs of sending a child to college can be overwhelming - particularly in these uncertain economic times. A recent College Board study found that, in the last 20 years, tuition at a public, four-year institution grew nearly six times faster than the average family income (114% vs. 20%, respectively). Given this disheartening fact, it's no surprise that only 29% of parents feel prepared to cover the costs of providing their child with a college education or that nearly two-thirds of parents had failed to save a single dollar, for any purpose.

Citi wants to help families invest in their children's future while providing for them today. With the Citi Upromise Card, everyday spending - from trips to the grocery store to buying a car, from eating out to filling up the gas tank, no matter where you use your card - can translate to college contributions. In addition, you can earn additional rewards by using your card to make purchases with other Upromise contributing companies.(3)

To apply for the Citi Upromise Card, simply call Citibank at 1-800- 950-5114. As a Citi Card cardmember, you'll receive the features and benefits customers enjoy including access to a dedicated 24-hour customer service line and secure on-line account management.

"Citi's latest offering comes on the heels of overwhelming support from the leaders of corporate America who are committed to providing consumers with a smarter, easier way to help save for college," says Michael Bronner, chairman and founder of Upromise. "Together, we're all working to help families get the most from their money and afford a higher education for their children."

In partnership with America's leading companies, Upromise is focused on fundamentally altering the affordability of and access to college for America's families. Contributing companies in the Upromise network give a portion of a member's spending into their Upromise account. Parents can also form a network of extended family and friends to help save for their children's college education. Membership in Upromise is free and easy. It's all done online at Upromise.com.

About Citibank

Citibank is part of Citigroup (NYSE: C), the preeminent global financial services company with some 190 million customer accounts 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, 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 Upromise

Upromise, Inc. helps families save more for college. Through Upromise, America's leading companies contribute a portion of each family's spending with them into a Upromise account. Upromise's contributing companies include America Online, AT&T, Citibank(R), CVS/pharmacy, ExxonMobil, General Motors, McDonald's(R), Toys "R" Us, Borders Books and Music, Century 21(R), Coldwell Banker(R), Countrywide Home Loans, ERA(R), Staples, Starwood Hotels, Waldenbooks, more than 70 online shopping sites, and more than 7,000 restaurants through the iDine program. The Upromise Grocery service, available now in New England and nationally in 2002, helps families save when they purchase thousands of items at participating grocers. The free Upromise service also makes it easy for families to invest their savings in tax-advantaged 529 college savings accounts managed by Salomon Smith Barney or Fidelity Investments. Brokerage services are provided through Upromise Investments, Inc., member NASD/SIPC and a wholly owned subsidiary of Upromise, Inc. Upromise is located in Brookline, Mass. For more information, visit www.upromise.com or call 617.582.1400.

(1) The maximum contribution into your Upromise account is $300 per credit card account per calendar year (purchases posted to your January to December billing statements).

(2) Citibank and Salomon Smith Barney are not affiliated with Upromise or Upromise investments.

(3) Specific terms and conditions apply for each company's contributions. Contributing companies, contribution levels and terms and conditions subject to change without notice. For additional information and current listing of contributing companies, visit www.upromise.com.