Citigroup Smith Barney Affluent Investor Poll - December 2006 - Investment Climate, Charitable Giving, and Holiday Shopping.

Conducted by Greenwald & Associates and Synovate 

NEW YORK -- Citigroup Smith Barney has announced the results of its latest monthly poll of affluent investors. The poll was conducted with investors who have at least $100,000 in financial assets (excluding real estate and employer retirement plans), a definition that describes approximately 25% of all U.S. households1. Investors with $1 million or more represent 43% of the interviews.

All results are specifically from those investors interviewed for the Citigroup Smith Barney Affluent Investor Poll between November 2 and November 14. The poll does not reflect Citigroup Smith Barney predictions or recommendations.

Investor Poll Highlights

Affluent investors in this Citigroup Smith Barney Affluent Investor Poll provide their perspective on trends in the investment climate and their personal finances. The poll also examined their views on charitable giving and their holiday shopping habits.

* Nearly half of all affluent investors believe that today's investment climate is better than a year ago. This represents a 10-point increase from just two months ago. "Affluent investors continue to be in a good mood as we head into the holiday season," says Craig Pfeiffer, Executive Vice President of Smith Barney.

* Affluent investors again indicate that their personal finances are strong, with nearly half saying that they are financially better off today than they were a year ago. Only one in ten report being worse off than a year ago, the lowest totals for 2006.

* Expectations regarding the nation's economy for the coming months also continue to be positive. In particular, two out of three investors say that the country's investment climate will be good over the next six months and one-third say that things will be better a year from now.

* The affluent investors in this month's Poll believe that it is important to support charitable causes, and more than nine out of ten act on this in one form or another, either by donating money, donating non-monetary items, or volunteering their time.

* A small number of affluent investors indicate that they contribute to charity because they want to "make a difference in the world." Two out of three believe their contributions make a difference to the organizations they support, although most characterize their support as making only "some" difference as opposed to "a great deal" of difference.

* Tax advantages do not drive charitable contributions. Two-thirds of affluent investors say that their contributions to charity would stay the same even if they were not tax deductible.

* December is the most popular time for investors to make charitable contributions. December is also a time when nearly all affluent investors look forward to spending time with family and friends. Two-thirds also say they look forward to the holiday season as a time to indulge in food and drink.

* Most affluent investors plan to spend between $500 and $999 on holiday gifts this year, which they say is about the same as what they spent last year. Less than twenty percent will do all of their holiday shopping at a store; one in five plan to do a greater share of their shopping this year online.

* Gift cards are playing a bigger role in the holiday season. Most affluent investors intend to give gift cards as presents this year, and one in six report that their use of gift cards has increased since last year.

Background and Methodology

Greenwald & Associates and Synovate conducted the Citigroup Smith Barney Affluent Investor Poll November 2 to November 14. Interviewing was conducted online with 568 investors who are members of the Synovate Consumer Opinion Panel. In order to qualify for participation, panel members had to have at least $100,000 in financial assets (excluding real estate and employer retirement plans), a definition that describes approximately one-quarter of all U.S. households. Survey results include 161 interviews with households that have $100,000 to $499,999 in savings and investments, 162 interviews with those in the $500,000 to $999,999 asset range, and 245 interviews with investors who have $1 million or more. Survey results have been weighted by age and asset level to reflect national population norms. The results of the Citigroup Smith Barney Investor Poll have a maximum margin of sampling error (at the 95% confidence level) of plus or minus four percentage points.

1According to aggregated data using results of the Federal Reserve's 2004 Survey of Consumer Finance, 26.6% of all US households have non-retirement financial assets of $100,000 or more.

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Mathew Greenwald & Associates, Inc. is a leading full service public opinion and market research firm that has been conducting customized research for our clients for over 20 years. Specializing in serving the research needs of financial services organizations; Greenwald & Associates has earned a reputation for extensive research knowledge, industry expertise, and commitment to serving the needs of our clients. For more information about Mathew Greenwald & Associates, call [phone] or visit www.greenwaldresearch.com.

Synovate, the market research arm of Aegis Group plc, generates consumer insights that drive competitive marketing solutions. The network provides clients with cohesive global support and a comprehensive suite of research solutions. Synovate employs over 5,000 staff in 107 offices across 50 countries. More information on Synovate can be found at www.synovate.com or call [phone].