Citigroup and ABAEF Partner to Teach Children to Save; Citigroup Consumer Education Initiative Officially Launches on National Teach Children to Save Day - April 24, 2001.

Business Editors

NEW YORK--(BUSINESS WIRE)--April, 4, 2001

Citigroup and the American Bankers Association Education Foundation (ABAEF) today announced a partnership for a national financial education initiative that teaches children the value of saving for the future.

Employees of Citigroup will volunteer as teachers for the Teach Children to Save program, which officially launches on National Teach Children to Save Day (NTCSD) on April 24, 2001. NTCSD and the savings program are sponsored by the non-profit ABAEF, which works with financial institutions to promote and increase financial education in the U.S.

"Getting your money to work for you means having the knowledge you need to make informed financial choices," said Sanford I Weill, Chairman and CEO of Citigroup. "We are pleased to participate in this special initiative that will give children a head start on building bright financial futures, and offer our employees the opportunity to serve as volunteers within their communities."

Citigroup employees will use ABAEF's Teach Children to Save resource kits that includes K-12 grade-specific lessons to teach young people how to be "$mart $avers." Lessons incorporate activities, games, quizzes, video segments and budget exercises that youth can relate to, such as "Buying a Scooter" and "Living in the Real World." Other activities include budgeting and determining needs and wants.

"The earlier people learn about saving and personal finance, the better they are at managing money in the future," said John P. Pothoven, Chairman of the ABAEF and Chairman, President and CEO of Mahaska State Bank. "Personal finance is left out of most school curriculums and the need for financial education is real. The ABAEF is very pleased that Citigroup is collaborating with us. Citigroup's commitment is exceptional - because they plan to make `Savings Day' every day with a year-long program for kids of all ages. This is an outstanding commitment to financial education."

Citigroup's businesses - which include Citibank, CitiFinancial, Salomon Smith Barney and Travelers - will make the ABAEF's Teach Children to Save classroom program available both within local schools and through Citigroup's non-profit partner organizations nationwide. Citigroup's Teach Children to Save initiative is being sponsored by the company's Global Community Relations Department with support from the Citigroup Foundation.

"Citigroup's businesses are excited to join with the ABAEF for this important initiative which directly reflects our commitment to financial education," said Pamela P. Flaherty, Senior Vice President of Citigroup Global Community Relations. "By working with the ABAEF we will be extending our existing efforts to help children understand money matters by offering their fine savings curriculum to local schools and community organizations in our markets."

"Volunteerism is a very important form of support and we believe that through the Teach Children to Save initiative, our employees will make a significant contribution toward bettering their communities," said Charles V. Raymond, President and CEO of the Citigroup Foundation. The combination of philanthropic support and employee volunteerism also appropriately reflects our overall commitment to being a socially responsible member of the communities where our businesses operate."

On NTCSD, Citigroup employees will join hundreds of other volunteers in making presentations in local schools to students in grades K-12. Since its creation in 1997, NTCSD activities have reached more than 500,000 students through some 20,000 presentations.

"Our national savings rate is lower now than during the Great Depression," said Donald G. Ogilvie, executive vice president, American Bankers Association. "Statistics show Americans spent more than $9.99 for every $10 they earned in income--literally, a penny saved. This alarming trend can be stopped through financial education both in and out of the classroom. Citigroup and their employees are experts at saving and investing, so it's a natural fit for them to teach young people about fiscal fitness and how to save for the future."

Citigroup (NYSE: C), the preeminent global financial services company, provides some 130 million consumers, corporations, governments and institutions in more than 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. Major brand names under Citigroup's trademark red umbrella are Citibank, CitiFinancial, Primerica, Salomon Smith Barney, and Travelers. Established in 1999, the Citigroup Foundation brought together the Citicorp Foundation and Travelers Foundation following the merger of the two companies. The Foundation focuses its grants primarily on community development and education, along with arts and culture, health and human services, and the environment. Additional information may be found at: www.citigroup.com.

The Washington, D.C.-based ABA Education Foundation provides leadership and resources to bankers to enhance the public's knowledge of personal money management skills and banking services. The Foundation is a 501(c)(3) non-profit subsidiary of the American Bankers Association. ABAEF and its interactive budgeting and financial planning games can be found on the Internet at www.aba.com.