Compensation

The UK Financial Services Compensation Scheme (the "Scheme") provides compensation in certain instances where Citibank International plc is unable, or likely to be unable, to satisfy protected claims against it. In such circumstances, the Scheme may provide compensation for claims relating to various services provided by Citibank International plc such as deposit-taking and investment business. However, the Scheme is governed by specific rules on compensation which determine the Client’s eligibility, the circumstances in which compensation will be available to the Client, and the limits on compensation payable to the Client. Any recovery under the Scheme is therefore subject to the Client’s specific circumstances, the nature of the Client’s claim and the specific rules of the Scheme.

Claims under the Scheme in relation to deposits and investment business are subject to maximum limits on compensation, as published from time to time on the FSCS website. It is not possible to claim an amount in excess of the published limit even where the financial loss suffered or the amount of initial deposit or investment is higher. The current compensation limit for deposits as at January 2009 is set at 100% of the first £50,000 per client per authorised firm. The current limit for investment business as at January 2009 is set at £48,000 per client per authorised firm (100% of the first £30,000 and 90% of the next £20,000).

Up-to-date information on the limits applicable under the Scheme is available at: http://www.fscs.org.uk.

The Bank will provide further information on the conditions governing compensation and the formalities which must be completed to obtain compensation upon request. More detailed information on the Scheme is also available from the Scheme's website: http://www.fscs.org.uk or you can contact the Scheme at 7th Floor, Lloyds Chambers, Portsoken Street, London E1 8BN (Tel: 020 7892 7300; E-mail: enquiries@fscs.org.uk).