Announces local grant of 163,000 to Hungary

Budapest, Hungary - Citing its belief that strong Financial Education raises the quality of life for individuals, families and institutions and strengthens communities around the world, Citigroup and the Citigroup Foundation today announced a 10-year $200 million commitment to financial education. The commitment will include the 100 countries that Citigroup operates in around the world, including Hungary.

In Hungary, Citigroup supported financial education programs by average $110,000 in the last two years and today announced expansion of existing grants to $163,000 in 2004.

Integral to Citigroup's commitment is the formation of an Office of Financial Education. Dara Duguay, formerly the Executive Director of the non-profit Jump$tart Coalition for Personal Financial Literacy in Washington DC, has joined Citigroup and has been named head of Citigroup's Office of Financial Education, the financial services company also announced today.

Mobilizing its global force of employees to share their knowledge and expertise with the people they serve, Citigroup also announced today that every employee may take one day off each year to volunteer for a non-profit organization.

Charles Prince, Chief Executive Officer of Citigroup, said: "Citigroup is a longstanding supporter of financial education. Today we are enhancing our commitment with new resources and a sharper focus backed by the energy and enthusiasm of the 275,000 employees of our company. It's more than just writing a check; it's using what we do best to help people around the world build better lives for themselves and their families. Over the next ten years, Citigroup will touch the lives of millions of people by providing financial education that will help them achieve their dreams."

Mr. Zdenek Turek, Citigroup Country Officer for Citibank Rt. said, "Here in Hungary, we work with Junior Achievement Hungary on two major financial education programs and with Foundation for Developing Financial Culture on one program. This year we spend $163,000 in support of our two major programs: the Economics for Leaders summer program and the Citibank School Financial Education Program."

Citigroup's increased commitment to financial education will come primarily in the form of grants from the Citigroup Foundation, supplemented by grants and programs from Citigroup's various businesses.

Through its new Office of Financial Education, Citigroup will help identify new programs to promote Financial Education and drive the strategy and implementation of Citigroup's financial education efforts. The new Office of Financial Education will teach people the basics of financial education and mobilize the strength of Citigroup's global workforce.

Dara Duguay, head of Citigroup's Office of Financial Education, said: "My experience shows that financial education is needed to turn money mistakes into money successes. I am excited to join Citigroup and lead its efforts to identify and implement programs needed to help people get smart about money and to learn how to become self-sufficient and build wealth."

Citigroup has created a new website that features information on its Financial Education Program, upcoming activities, and resources, including Citigroup's Financial Education Curriculum. The site can be found at financialeducation.citigroup.com.

Based on the belief that knowledge is your greatest asset, the Citigroup Financial Education Program is a global, company-wide effort working jointly with the Citigroup Foundation to identify, support and implement initiatives that help give individuals, families and institutions the tools needed to make sound financial decisions. Citigroup's 10-year, $200 million global commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup's Financial Education Program, including Foundation guidelines, links and resources, the Citigroup Financial Education Program Curriculum and Facilitator's Guide, may be found at: financialeducation.citigroup.com.

Citigroup (NYSE: C), the preeminent global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing 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.