Wheat, cotton, sugar and coffee: few of the ingredients of the new Agriculture Commodity Index Linked Notes of Citibank.

Athens, February 13, 2007.

The new Structured Notes Agriculture Commodity Index Linked Notes in EUR and USD combine the opportunity for high return up to 20% for investment in Euros and up to 26% for investments in USD with 100% capital protection at maturity. The performance of Goldman Sachs Agricultural Index is linked to the Structured Notes’ payout and includes commodities such as wheat, cotton, corn, sugar, coffee, soy and cocoa. In addition, it is representative of the positive performance of the agricultural sector.

The new Structured Notes are issued by Citibank and have a 2-year tenor, while the minimum investment amount is 2.000 EUR or USD. The new product will be available by Citibank branches until 27th February. Investor’s return at maturity is linked to the Goldman Sachs US Agriculture Excess Return (GSCAGER) Index, which serves as a benchmark for investment in the agricultural sector worldwide and as a measure of the performance of this sector. Moreover, the new Structured Notes can contribute to portfolio diversification, since they tend to have opposite performance to the one of bonds and equities.

The Agriculture Commodity Index Linked Notes are addressed to those who see opportunities for investments in the agricultural products market in the modern economy. They utilize the increased demand for certain agricultural products, which is created due to important factors, such as:

• The disproportionate population growth in comparison to agricultural production
• The decrease of fertile land availability
• The change in climate conditions
• The rising demand for alternative sources of energy (like ethanol that is produced
  by corn)

Analytically, the return of the Structured Notes at maturity depends on the performance of the Agricultural Index between the Strike and the Final Valuation Dates. More specifically, if the Index on the Final Valuation Date rises up to the barrier of plus 20% for the EUR and plus 26% for the USD, then the investor receives 100% of principal capital plus 100% participation in the performance of the Index. If the closing level of the Index on the Final Valuation Date is above the barrier of plus 20% for EUR and 26% for USD, then the investor receives 100% of the principal capital plus a coupon of 10% for the EUR and 15% for USD. Finally, if the Final Valuation Date is lower than the Strike Date, the investor receives 100% of the principal capital with no extra return.