Citicorp EFS Payroll Card Now Offers National Surcharge-Free Access.

Business Editors

CHICAGO--(BUSINESS WIRE)--Sept. 4, 2003

Citicorp Electronic Financial Services to Offer its Payroll Card Customers Surcharge-Free Access at 25,000 ATMs

Citicorp Electronic Financial Services (Citicorp EFS) announced today that it has joined Allpoint(TM), a national surcharge-free ATM network, to provide surcharge-free ATM access for users of its payroll debit cards. Access to these 25,000 ATMs nationwide will be made available to select Citicorp EFS customers and their employees in early September 2003, beginning, appropriately enough, on Labor Day, with other users to be added later.

By utilizing payroll cards, employers can increase employee satisfaction by providing a convenient pay option to employees who may not have bank accounts. In addition, the payroll card will help reduce administrative costs through the elimination of printing, distributing and replacing checks, as well as greatly reducing check fraud and security concerns. Access to the 25,000 ATMs is provided under an agreement Citicorp EFS entered into with Allpoint, and payroll card users will be instructed to look for the "Allpoint(TM)" logo on ATMs to avoid ATMs that surcharge.

"Joining with Allpoint helps make our payroll card a more convenient and inexpensive solution for employees nationally," said Mark MacKenzie, President of Citicorp EFS. "The payroll card itself is a win-win solution for both employers and employees," he added. "Citicorp EFS technology, customer support and expertise helps employers to automate their payroll process, reducing costs, while employees get safer, easier access to their pay."

With a launch on the week of the holiday that celebrates American workers, the enhanced access that Citicorp EFS offers makes its payroll cards an even more economical alternative to checks for employees. Payroll cards eliminate fees often associated with check-cashing services, which cost an average of $8 per check. Current research indicates that approximately 25 percent of the working population does not have a bank account and as many as 15 million U.S. households have no banking relationship. In addition, employees will no longer need to visit their workplaces on payday to receive their payroll checks.

With more than 25,000 ATMs conveniently located in high-profile national and regional retailers across the United States, joining Allpoint allows Citicorp EFS to significantly expand its payroll card business.

Citicorp EFS actively markets payroll cards under private label branding as well as under the name "Citibank Payroll Card." Citicorp EFS is a wholly owned subsidiary of Citigroup - the world's largest financial services firm.

ABOUT CITICORP EFS

Citicorp EFS provides debit card services and systems to governments, corporations, institutions, and consumers. Citicorp EFS debit cards are used to distribute government benefits, Social Security and other federal payments, employee payroll, consumer incentives and premiums, relocation assistance, and emergency support payments, among others. In a given month, Citicorp EFS processes over 50,000,000 transactions and is responsible for the movement of over $1,500,000,000 in funds accessed by over 7,100,000 households or individuals. During peak periods, more than 50 people per second are accessing Citicorp EFS systems and services.

Citigroup (NYSE:C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides 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 Life and Annuity. Additional information may be found at: www.citigroup.com.