Citigroup Community Summer Intern Program Awards Salary Grants to 101 Community Development Organizations.

Business Editors

NEW YORK--(BUSINESS WIRE)--June 12, 2000

Internships to Offer Valuable Learning Experience and Career

Insights in Community Development Field

Internships are Being Served at Organizations in New York,

California, Connecticut, Delaware, Florida, Georgia, Illinois,

Nevada, New Jersey, Puerto Rico, South Dakota, Texas, the Virgin

Islands and Washington, D.C.

Citigroup Foundation has awarded salary grants of $4,000 each to 101 not-for-profit organizations that focus on community development through the Citigroup Community Summer Intern Program (CSIP) 2000. Located across the U.S. and in Puerto Rico and the Virgin Islands, the organizations are using these grants to provide undergraduate and graduate students with paid internships for the summer. The success of CSIP last year has resulted in Citigroup Foundation increasing the number of grants it has made in 2000 by 35%. CSIP grants are awarded on a competitive basis with the highest priority given to organizations that can offer interns a valuable learning experience in the community development field.

"We recognize the important role that community development serves in helping to revitalize distressed communities and enabling residents to regain a sense of neighborhood pride," said Charles V. Raymond, President and CEO of Citigroup Foundation. "Through this program, we hope to strengthen our partnerships with local community development organizations, while also providing college students with meaningful employment opportunities and insights into careers in the not-for-profit sector."

The organizations receiving CSIP grants take responsibility for identifying and hiring their interns in an effort to ensure that they find the most suitable candidates to meet their needs. Citigroup has specified that the interns supported by this program must work a minimum of 30 hours per week and must be supervised by a full-time, paid employee of the not-for-profit.

Citigroup Foundation's global giving program focuses on education and community development, along with funding a limited number of programs in arts education, and health and human services. Citigroup (NYSE:C) is the most global financial services company providing some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.citigroup.com.