Citibank Rt., a member of Citigroup, today announced that 10,000 small and medium sized business (SMEs) customers now use the bank's services.

Since the launch of the SME business in 1998, the SME business has grown dramatically, number of customers increasing by an average of 40 per cent year-on-year. Also, the total assets portfolio has increased by 65 per cent in the past two years to reach HUF 65 billion (USD 280 million) as at the end of 2002.

Zdenek Turek, Citigroup Country Officer for Citibank Rt., said: "Citibank Rt. continues to put great emphasis on growing the SME business and enhancing its range of products and services offered to SME customers. The bank continuously expands the subsidized loan offerings and focuses on ensuring that companies get access to internet banking services that provide fast, easy and comfortable management of financial transactions."

The bank plans to open three branches this year in Pecs, Kecskemet and Szombathely taking total branch numbers to 20 across 16 cities in Hungary.

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.