Citibank Opens New Financial Center in Heart of Manhattan; New Korea Town Branch Brings Full Range of Services to Neighborhood.

NEW YORK -- Citibank today celebrated the grand opening of its new financial center in the heart of Manhattan at 22 West 32nd Street. The new branch in New York City's Korea Town, with a team of employees fluent in English and Korean, offers Citibank's full range of products and services to best serve the needs of the local community.

At the celebration, Charles Prince, Chairman and Chief Executive Officer of Citigroup, presented two checks, one in the amount of $70,000 to the National Korean American Service & Education Consortium (NAKASEC), and a second in the amount of $50,000 to the Korean American Community Foundation (KACF), for their work on behalf of the Korean American community.

Mr. Prince said, "We are excited about this new financial center because it signifies our commitment to opening financial centers in places where we can reach more of our customers and offer them the best range of products and services. This opening also allows us to showcase what sets us apart - our global reach, our diverse and talented employee base and our unparalleled range of financial products and services."

Y.K. Ha, CEO of Citibank Korea, who joined Mr. Prince at the opening, said, "We have a very strong franchise in Korea with four decades of experience serving the Korean community, so I know customers here in Korea Town will benefit as we continue to develop the products and services that best meet their needs at home and abroad."

Citibank's Korea Town financial center provides solutions for consumers and small businesses to help them reach their financial goals. The innovative products and services offered include personal and business banking, investment accounts, mortgages and insurance. The financial center also offers Citipro, Citibank's complimentary financial needs analysis that focuses on helping customers achieve financial balance in their lives. Citibank's innovative ThankYou Network, which recognizes and rewards customers for their relationships with Citibank, is also available to customers free of charge.

In addition, the financial center provides small businesses with a range of products and services to meet their unique needs, including business checking, savings and CDs; cash management products; Treasury products, such as foreign exchange; letters of credit; and lending products, such as lines of credit and term loans.

His Excellency Lee Tae-Sik, Ambassador of the Republic of Korea, said: "I am extremely delighted to celebrate with Citigroup as we continue to build bridges between the Korean American community in the United States and their friends, relatives and associates living in Korea. I look forward to our continued working relationship today and in the future. Recognizing that Citigroup is a leading provider of foreign financial services in Korea and is the largest financial services company in the world, it is my hope that this bank will continue to promote our two countries' interests by providing a range of useful products to their corporate and consumer clients and bring those on opposite ends of the globe closer together."

Eun Sook Lee, Executive Director, NAKASEC, and Sonny Whang, President and Chairman of the Board, KACF, said, "We would like to thank Citigroup for their dedication to promoting education and for this grant to help empower the Korean American community."

In 2000, New York City had the second-largest population of Korean Americans in the United States. The Korean population in New York City is growing at a fast pace as recorded in the 2000 U.S. Census.

Citibank is a member of Citigroup (NYSE: C), the leading global financial services company, which 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, insurance, securities brokerage, and asset 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.