The Bank Unveils New Brand Look For The Future In Hungary

Citibank Rt., a member of Citigroup, today announced that it had extended its product range in Hungary through the distribution of four Credit Suisse Equity Fund Management offshore equity funds. Citibank Hungary is the first financial institution in the local market to offer offshore mutual funds to retail customers.

The bank also unveiled a new logo aimed at identifying it more closely with its parent company, Citigroup. The signature blue wave remains, but the compass rose has been replaced with a red arc to reflect the broader product range that Citibank now offers individuals and companies as a Citigroup brand.

Citibank Hungary will distribute four equity funds offered by Credit Suisse Equity Fund Management Company which invest in equity markets worldwide: European Blue Chips, Global Financials, Global Health Care and USA Fund from September 2. Hungarian investors can invest in these funds through the 17 Citibank branches, via CitiPhone banking telephone customer service. The minimum investment amount required is 4,000 USD/Euro. Citibank will charge an initial upfront sales fee ranging from 1.-3.5 per cent, while switching between these funds will be free of charge.

The four new offshore mutual funds, part of the full mutual funds offering by Citibank Hungary, include:

Credit Suisse Equity Fund (Lux) European Blue Chips: the aim of the fund is to achieve the highest possible capital growth by investing in leading Western European companies characterized by high profitability, a sound financial structure and successful management;

Credit Suisse Equity Fund (Lux) Global Financials: the aim of the fund is to achieve the highest possible capital growth by investing worldwide in financial companies. The fund invests primarily in banks and insurance companies, as well as in companies active in the financial sector such as financing and holding companies;

Credit Suisse Equity Fund (Lux) Global Health Care: the fund invests worldwide in companies that are active in the pharmaceuticals, biotechnology and medical technology sectors. Stock selection is based on sector and company analyses. Investments are made with a medium to long-term horizon; and

Credit Suisse Equity Fund (Lux) USA: the aim of the fund is to achieve the highest possible capital growth by investing in leading US companies characterized by high profitability, a sound financial structure and successful management.

The bank's existing mutual fund offering includes:

Credit Suisse Hungarian Bond: managed by Credit Suisse Asset Management Hungary, the fund invests in Hungarian government Tbills and Tbonds and aims to preserve the real value of the investment and generate real return;

AEGON Local Bond: invests in Hungarian fixed income instruments, mainly in Hungarian government Tbills and Tbonds;

AEGON Local Equity: seeks to increase capital value through investing in Hungarian equities;

AEGON Foreign Bond: invests mainly in investment grade foreign bonds with issuers from OECD countries; and

AEGON Foreign Equity: invests in equities of Western European and US equity markets.

Zdenek Turek, Country Corporate Officer for Citibank Rt., said: 'Citibank Hungary's long-term strategy is to offer a full wealth management proposition to customers, implementing a customer-need based selling approach and providing a superior spectrum of investment products. In line with this strategy, Citibank now introduces the first real offshore mutual funds on the Hungarian market, thus investors have access to nine different mutual funds manufactured by Credit Suisse and Aegon fund houses which provide a greater flexibility and better management of their mid and long term savings.'

The logo change, which comes in Citibank's 16th year of operations in Hungary, was launched at Citibank's Bathory street branch in Budapest and it will be rolled out to all branches in the country over the next few weeks.

Mr Turek said, "While the previous look was an integral component of one of the most recognized and respected financial services brand in the region, we felt it was time to introduce a logo that more appropriately reflects the new financial services model that Citibank is building here as part of Citigroup.

"We have a long track record in Hungary, but Citigroup adds new thinking, new core competencies and broader capabilities-specifically, in e-Business, corporate and consumer finance and asset management. We believe our ability to meet the financial needs of consumers, corporations and institutional clients across this region is unmatched."

Note to editors
All nine funds are registered with the Hungarian Financial Supervisory Authority (PSZAF).

This document is for information purposes only and does not constitute a solicitation to buy, or an offer to sell, any security.

All views expressed in this document are as of the date of this document and are subject to change. They do not constitute and should not be taken as investment advice of recommendations.

- In the absence of any contrary provision in the bid documentation relating to the given Security, the investments cannot be regarded as deposits or other similar commitments on the part of Citibank N.A., Citicorp or any other interests thereof, of government agencies or insurance companies (not including the investments covered by the Investment Protection Fund), these persons assume no guarantee in respect of them and they are not otherwise insured. Citibank's Business Rules issued on the subject-matter of investment services provide detailed information on the investments covered by the Investment Protection Fund.
- The value of the Securities and the income from them may fall as compared to the date of the investment, which means that the investments are exposed to risks which may include the potential loss of the amounts of capital invested or a part thereof.
- Certain Securities and the underlying instruments may be less liquid and more volatile. Delays in the system performing settlement could result in the failure of the performance of sequential Transactions.
- Citibank shall not be responsible for the payment obligations (including the payment of capital, interest, taxes and other public debts) based on Securities not issued by it or any acts related to the Securities (except for the obligations set out in the Investment Service Agreement).
- The Customer shall, with respect to the Securities, rely exclusively on the information published in the prospectus or the preliminary prospectus and for the accuracy of this information the liability shall be taken by the issuer of the Security, the distributor signing the prospectus or preliminary prospectus or, in case of bonds, any third person guaranteeing the payment of the nominal value (plus interest, if any).

About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions 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 red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.

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.