Citigroup Awards $60,000 to Five San Antonio Schools To Support ''Friends Reading Together'' Initiative.

Business Editors

SAN ANTONIO--(BUSINESS WIRE)--Dec. 10, 2001

The Citigroup Foundation has awarded $60,000 in grants to five local elementary schools to support the Citibank "Friends Reading Together" initiative.

"Friends Reading Together" is part of Citibank's K-3 Literacy Program, an award-winning partnership effort aimed at developing and improving reading skills in elementary schools where students are not reading at grade level. Now in its fifth year, the Program takes a three-pronged approach providing employee volunteers, funding and technology. Schools in San Antonio receiving the grants announced today for "Friends Reading Together" are: Barkley Elementary, Colonial Hills Elementary, J.T. Brackenridge Elementary, Ruiz Elementary, and Sarah King Elementary. These grants will be supplemented by the volunteer efforts of more than 200 Citigroup employees.

"Our 'Friends Reading Together' initiative combines philanthropic giving along with an opportunity for our employees to get involved as volunteers in their community to address a specific local concern," said Charles V. Raymond, President of the Citigroup Foundation. "We are pleased to support this initiative and further strengthen our commitment to help educate the next generation, while working towards making each community a better place because Citigroup employees are there."

Citibank, a member company of Citigroup, launched its K-3 Literacy Program in 1997. The Program responded to the Texas Governor, now President, George Bush's challenge of ensuring that all children be able to read at grade level by third grade and continue to read at grade level throughout their school years. This was supported by Texas State Board of Education statistics that determined that over 90% of children not reading at grade level by the third grade would never read at grade level, and lead to high drop-out rates.

"By providing children with more opportunities to read through our 'Friends Reading Together' initiative, we feel that we can help build their self-esteem and encourage them to feel good about achieving academic success," said Mark Devine, Chairman of Citigroup's Texas Leadership Council. "We are pleased to be able to expand our K-3 Literacy Program and look forward to ensuring that all of our local students have an equal chance at achieving their dreams for the future."

Employees volunteering for the "Friends Reading Together" initiative will be transported to schools every other week to work on reading skills with a student or group of students that they have been matched with. Funds from the grants being made for this initiative by the Citigroup Foundation will be used for professional development for teachers of the five selected schools, along with the purchase of computer hardware and software, and teaching materials and supplies. Each year in May and December, the students who have participated in Citibank's K-3 Literacy Program receive a new book to take home and read with their families.

Citibank's K-3 Literacy Program has been recognized for excellence by the Texas Education Agency, the Texas State Board of Education, and the San Antonio Mentorship Association. It also has been recommended for use as a prototype for a statewide program.

Citigroup (NYSE:C), the preeminent global financial services company with some 190 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. The Citigroup Foundation primarily focuses its grant making in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information may be found at: www.citigroup.com .