CITIBANK KENYA LAUNCHES INTERNET BANKING FOR CORPORATE CUSTOMERS

Service Now Available in Four Languages and 50 Countries

Nairobi, Kenya, March 21st, 2001 -- Citibank Kenya, a unit of Citigroup, the preeminent global financial services company, today announced the launch of CitiDirect Online Banking for corporations based in East Africa covering Kenya, Tanzania, Uganda and Zambia. CitiDirect is available in over 50 countries and in four languages. More than 1,300 users in 470 companies around the world use CitiDirect, with new customers being added daily.

CitiDirect is Citibank's web-based delivery platform that offers seamless global access to an expanding array of corporate banking services through a single window, allowing customers to be more efficient, more flexible, and more in control of their banking transactions.

Jorge Bermudez, Executive Vice President and Head of Citibank e-Business said, "Whether or not companies are already transacting business on the web they can take advantage of the Internet technology and get an enhanced banking experience through CitiDirect."

Oti Ikomi, East Africa Regional Head for Citibank e-Business said, "CitiDirect enables customers in the East African region to access information reporting through the Web. Companies can track and monitor transactions, view account balances in detail and make online inquiries. Using their own customized selection criteria, customers can retrieve reports easily and reliably, including intra-day, real-time status of their accounts". With CitiDirect, Citibank is also building the infrastructure that will serve as the foundation for many of the value-added services the bank is developing on the Internet.

Terry Davidson, the East African Region Business Head for Citibank said, "Citibank is a leading provider of Cash Management Services in the East Africa Region. We are supplying global electronic banking services to over 250 companies in Kenya alone. The introduction of CitiDirect will add an Internet banking facility for these companies, allowing them to put all their banking functions in one place.

Other services that customers in other geographic markets are accessing through CitiDirect include payment initiation and netting, which enables companies to settle their intracompany obligations from a central point. These services, as well as many other corporate banking services, will become available in East Africa in future releases of CitiDirect that will also add to the range of countries and languages. Eventually, CitiDirect will be available in more than 80 countries and 20 languages.

Additional information about CitiDirect may be found at: www.citidirect.com.

ABOUT CITIBANK E-BUSINESS

Citibank e-Business provides comprehensive e-commerce solutions that empower corporations and financial institutions globally to transform financial and business processes. Citibank e-Business solutions focus on the integration of internet-based exchanges, software solutions, logistics, and financial services with existing, end-to-end, liquidity management, investment, and trade finance capabilities.

ABOUT CITIGROUP

Citigroup (NYSE:C), the preeminent global financial services company, provides some 120 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 umbrella are Citibank, CitiFinancial, Primerica, Salomon Smith Barney, and Travelers. Additional information may be found at: www.citigroup.com.

For further information, please contact:
Name: Terry Davidson
Title: East African Region Business Head
Citibank Kenya
Number: +254 2 711221 / 222248

Why CitiDirect? Why Now?

As an industry leader in transaction services, Citibank's global electronic banking systems are secure, reliable and serve our customers well, offering more product depth and geographic breadth than any other available banking system. However, these systems rely on dedicated client software installed by Citibank at specific customer sites. Because the old system is multi-country, multi-product and multi-user many customers require installations in 20 or more subsidiary offices, necessitating on-site installations around the world which can take many months and are costly, complex and time-consuming to both the customer and to Citibank. Subsequent software upgrades also require further installation, limiting our ability to deliver improved functionality to the customer in a timely manner.

CitiDirect is the key to breaking through these limitations.