CITIBANK UGANDA LAUNCHES INTERNET BANKING FOR CORPORATE CUSTOMERS

Service Now Available in Four Languages and 50 Countries

Kampala, Uganda, June 5th, 2001 -- Citibank Uganda, a unit of Citigroup, the preeminent global financial services company, today announced the launch of CitiDirect Online Banking for its corporate customers. CitiDirect is available in over 60 countries and in four languages. More than 1,400 users in 600 companies around the world use CitiDirect, with new customers being added daily.

CitiDirect Online Banking 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.

Other services that customers in other geographic markets are accessing through CitiDirect Online Banking 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 26 languages.