Citigroup and the Washington Area Women's Foundation to Create Financial Education Program to Benefit 10,000 Low-Income Washington, DC area families.

WASHINGTON -- The Citigroup Foundation Awards $250,000 to the Women and Families Financial Independence Initiative

Today, Alyson Klug, President of Citibank in the Mid-Atlantic Region, and Dara Duguay, Director of Citigroup's Office of Financial Education, presented a $250,000 grant check from the Citigroup Foundation to Anne Mosle, President of the Washington Area Women's Foundation, to support a financial education program for the Women and Families Financial Independence Initiative. The grant will be used to create a financial education program designed to build the financial independence of more than 10,000 low-income, women-headed families, the Washington region's most economically vulnerable population. Citigroup is the lead financial institution supporting the initiative.

According to a 2003 study conducted by the Women's Foundation, "A Portrait of Women & Girls in the Washington Metropolitan Area," 57% of the area's impoverished families are women-headed households. In Washington, DC, that number is 70%. One in three Washington, DC children currently live in poverty, with 82% of those children living in these vulnerable families. Although the region has experienced significant economic growth over the past ten years, the groundbreaking study revealed that the number of people loving in poverty has increased 32%.

In response to The Portrait Project, the Washington Area Women's Foundation launched a regional effort called "The Women and Families Financial Independence Initiative" to create long-term social change by shifting the awareness, engagement, practices, and policies that perpetuate the cycle of poverty for these families. The initiative focuses on affordable childcare, job training and education, financial literacy and wealth creation, and health and safety.

To support this initiative, Citigroup will help lead and develop the Initiative's financial education efforts. Using the Citigroup Financial Education Curriculum, participants will receive training on money management, saving, investing, and credit. Citigroup will also work with local non-profit organizations to provide financial and technical support.

Dara Duguay, Director of Citigroup's Office of Financial Education, said: "At Citigroup, we believe that strong financial education programs raise the quality of life for individuals and families and are an important first step toward attaining economic self-sufficiency. The Washington Area Women's Foundation has identified a critical need for financial education programs for low-income women-headed households in the region. We are pleased to work with them to improve financial education in communities we both serve and to help support local families in need."

Anne Mosle, President of the Washington Area Women's Foundation, said: "Citigroup is a leader in providing financial education programs that help individuals, organizations, and institutions across the country. We believe Citigroup and the Citigroup Foundation are ideal partners to help women and families in the region gain access to quality financial education programs -- an essential tool for low-income women to take control of their economic futures and to move from poverty to financial stability and hopefully to prosperity."

Recently, Citigroup and the Citigroup Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 275,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.

The Citigroup Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citigroup's recently announced 10-year, $200 million global financial education commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup's Financial Education Program, including Foundation guidelines, links and resources, including the Citigroup Financial Education Program Curriculum and Facilitator's Guide may be found at: financialeducation.citigroup.com.

Founded in 1998, The Women's Foundation is dedicated to making empowerment, economic security, and self-reliance a reality for low-income, women-headed families in the Washington Metropolitan Area. Our mission is to foster a powerful wave of philanthropy to improve the lives of all women and girls through:

--Donor education and engagement

--Grantmaking and leadership development, and

--Public awareness programs and research.

Through fostering this powerful wave of philanthropy and focusing the power of giving together, we believe that every woman and every girl can have the tools they need to reach their full potential.

Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing 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. The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information may be found at www.citigroup.com.