Citibank to Waive Last Six Months of Payments on Federal Student Loans; Students and Families to Enjoy Big Savings from Six Free Payments Offer.

STAMFORD, Conn. -- The Student Loan Corporation, a subsidiary of Citibank N.A., and a leading originator of student loans, today announced that it has launched a new benefit - zero payments for the last six months on federal student loans.

Citibank will waive the amount due on the final six regularly scheduled payments on Federal Stafford, Parent Federal PLUS and Graduate Federal PLUS Loans to further assist students in meeting the financial challenges they may face as they plan for life after college.

"Once again, Citibank is leading the industry with another ground-breaking initiative to reward our borrowers exclusively," said Michael Reardon, Chairman, President and CEO of The Student Loan Corporation. "Citibank led the way with zero origination fee Stafford Loans, now we're rewarding students and parents for responsible borrowing by offering them the opportunity to get their last six months worth of payments free - potentially saving them thousands of dollars."

Citibank's zero payments for the last six months offer is available on all Stafford, Parent PLUS and Graduate PLUS Loans, serviced by Citibank, with a first disbursement on or after July 1, 2006.

"As the cost of a quality education continues to rise, finding affordable financing solutions becomes even more important," said Kurt Schneiber, Executive Sales Director of The Student Loan Corporation. "Citibank not only offers students and families a wide range of loan options, we also have extraordinary benefits and money-saving incentives -- zero origination fees at the front end and zero payments at the back, no one else offers this powerful combination nationwide."

To find out more about Citibank's zero payments for the last six months offer, visit us today at studentloan.com/zero.

About Citibank

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, 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.

The Student Loan Corporation (NYSE: STU) is one of the nation's leading originators and holders of insured student loans providing a full range of education financing products and services to meet the needs of students, parents, schools and lenders. The company was previously a division of Citibank and became a NYSE-listed corporation in 1992. Citibank, N.A. is the majority shareholder. Citibank was one of the first banks to finance higher education, beginning in 1958. Today, The Student Loan Corporation serves approximately 1.7 million customers and over 3,000 schools nationwide.

For information or inquiries regarding student loans, please call 1-800-967-2400. Customers with Telecommunication Devices for the Deaf (TDD) may call 1-800-846-1298. College planning and financing information is also available at www.studentloan.com.