Citibank Rt., part of Citigroup, today announced an extension to its product range after reaching an agreement with Credit Suisse Asset Management Hungary Alapkezelő Rt. to distribute their 'Credit Suisse Hungarian Fixed Income Fund'. The decision to distribute these funds is part of Citibank's long-term investment strategy to provide an extensive range of products to clients.

Mark Robinson, Country Corporate Officer for Citibank Rt., said, ''As the Hungarian market becomes more mature, Citibank Rt. believes it is important to focus on a long-term investment strategy and open up to new investment opportunities. With the current and future changes in foreign exchange, capital markets and investment fund legislation, consumer interest in more sophisticated investment products will increase which has significant long term potential for the bank."

Citibank will charge an initial upfront sales fee on the Credit Suisse fund. Initially, distribution of the funds will be carried out in the Hegyalja branch, Budapest, and through the CitiPhone banking facility. Approval for Citibank's 17 branches in Hungary to form part of the distribution channel is being sought.

Once legislative changes in capital markets laws permits distribution of off-shore mutual funds, Citibank Rt. hopes to introduce these products to the Hungarian market. Mr. Robinson said, ''This will increase our competitiveness and give us greater opportunities to meet our customers' increasing needs."

Along with extending the product portfolio, Citibank bankers will also provide wealth management and investment advisory services to customers.

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About Junior Achievement Hungary
Junior Achievement Hungary (JAM) is a licensed franchise of Junior Achievement International. The foundation has been running its programs in Hungary since 1992. Eleven separate programs targeted from kindergartens to high schools are currently being offered to 26,000 students in 86 cities and villages across Hungary. The mission of JAM is to provide students with the opportunity to learn about the business environment and free market economy through a dynamic partnership between businesses and schools. By attending these programs, students acquire knowledge and essential skills that will help them become educated consumers, more productive employees and more responsible members of the business community.