Citibank Zrt., a member of Citigroup today announced that its profit before tax increased by seven percent in 2005 from HUF 15.2 billion to HUF 16.2 billion whilst total assets grew from HUF 406.4 billion to HUF 458.8 billion, a 13 percent increase. The total loan portfolio at the end of 2005 was HUF 160 billion, recording a five percent growth over 2004 and deposits were at HUF 298.8 billion, recording a 15 percent increment over 2004. Return on equity (ROE) grew by about 20 percent to 38.98 percent, and return on assets (ROA) was at 2.87 percent for 2005.

Kevin A. Murray, Acting Citigroup Country Officer for Citibank Zrt. said: "We celebrate our twentieth year of service to the Hungarian community in 2006. The successes achieved in 2005 provide us with the perfect gateway to the next twenty years. Our franchise continued to be well balanced with both our corporate and consumer businesses posting solid results. We are committed to the Hungarian market and to the proposition of providing best-in-class services to our customers."

The bank continued the development of its diversified distribution network consisting of branches, sales centers, telephone customer service, internet and sales agents, to make it as convenient as possible for the customers to do business with the bank. At the end of 2005 there were 38 physical sites across the country.

In the Corporate and Investment Banking segment, the Global Transaction Services business grew in terms of deposits, loans, products offered, and client segments targeted. The main drivers for this growth were two-fold: cross-selling products to the existing clients, and acquiring new corporate clients. Maintenance of service quality remained a key objective. CitiDirect Online Banking, the web-based electronic banking platform, won the "Best Corporate and Institutional Internet Bank Award" in Hungary by Global Finance Magazine in August 2005.

The Securities and Fund Services business continued to deliver positive results in 2005, supported by the strong performance of the Budapest Stock Exchange. In addition, they continued to make progress on a major project that is aimed at further increasing service levels and introducing new, value-added services to the international investor segment. The business continued to maintain their market-leading position in this segment. Assets under custody crossed USD 14 billion by year-end and the Global Investor Magazine's European Clearing Survey ranked this business Number One in the "Best Bank for Settlement - Fixed Income" category. This past year was also a breakthrough year for the business in the local market segment, as they acquired significant market share in servicing domestic institutional investors.

The Treasury closed a very successful year, providing a wide range of treasury products with a special focus on offering tailor-made structured derivative solutions to the clients. The business maintained their local market-leading position in derivatives trading.

The SME client base was serviced by both the Commercial Banking and CitiBusiness units.

The Commercial Banking unit, a growing part of the Corporate and Investment Banking segment, provides services to clients with an annual net revenue ranging from HUF 450 to HUF 10,000 million. This business received renewed focus in 2005 with a redefinition of its strategy, introduction of new credit programs and restructuring of the risk and sales processes resulting in accelerated client acquisitions.

In the Consumer Business segment, by the end of 2005 the bank had 320,000 customers and they issued 200,000 credit cards. They have upgraded their cross-sell program, offering personal loans to their credit card customers at favorable conditions and with a simplified application process.

Within this segment, the CitiGold business also showed dynamic development. The number of customers using these exclusive services reached 3,200, 14 percent growth over 2004. As a result of the consistent approach to building and developing portfolios for the customers, the CitiGold portfolio grew by 32 percent, reaching HUF 115 billion. The portfolio reflects a growing trend toward longer term investments and diversification. In order to meet various customer needs, distribution of six new investment funds was launched, increasing the number of the open-end investment funds on offer to 26. The bank also participated in the subscription of the Budapest Aranytrio Closed-End Fund.

CitiBusiness, which is housed in the Consumer Business segment, provides services to customers with an annual net revenue of up to HUF 450 million. In 2005 the business launched new account packages for small and medium-size enterprises, for example attorneys' and lawyers' escrow accounts, helping to retain their competitive position.

In the summer of 2005 the bank launched the Future Investment Plan, a new product that makes it possible for the customers to save smaller amounts on a regular monthly basis by investing in a selected investment fund - currently there are one money market and two balanced funds on offer. The tenor of the Future Investment Plan is 10 years, however, savings are partly or entirely accessible any time, and free of charge after three years. This product makes investments with potentially higher yields available for a broader customer base.

Citibank Zrt. was the Diamond Sponsor of Mozart's "The Magic Flute" opera concert featuring world-famous opera stars from Hungary and other European countries in July 2005. The bank hosted their clients at this grand performance held in the National Concert Hall of the Palace of Arts.

The bank's commitment to the community is reflected in the following programs:

- Citibank Financial Education School Program - With a grant of USD 130,000 from the Citigroup Foundation the bank continued to bring economics, finance, mathematics and English-language teaching materials and books for 15,000 students in 36 elementary schools across Hungary.

- Citigroup Corporate Finance Chair Program - In 2005 the bank continued their support for the Corvinus University of Budapest in its endeavor to increase the level of financial education and to offer its students access to the most up-to-date information and trends in the financial markets. This support is a result of a USD 40,000 grant from the Citigroup Foundation and local Citigroup volunteers giving presentations and lectures to the students of the Department of Enterprise Finances.

Economics for Leaders Summer Program - Thirty secondary school students and 30 Economics teachers took part in this annual summer program in Hungary, which was also sponsored by the Citigroup Foundation.

- Habitat for Humanity - Within the framework of the Habitat for Humanity House Building Employee Volunteering Program, three groups of 20 employees helped build affordable houses for families in Dunavarsany. The Citigroup Foundation supported the program with a grant of USD 30,000.

- Additional community programs include support of integrated studies for blind students, Debrecen Children's Hospital, and the Friends of Franz Liszt Music Academy.

Major financial data for Citibank Zrt.
(as of December 31st, 2005, according to Hungarian Accounting Standards)

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Credit card general APR: 41.75%, Equal Payment Plan APR: 29.54-35.28%. Personal Installment Loan APR: 18.86%-44.99%. The APR has been calculated considering the actual terms and the effective laws; in case of the change of these terms the APR may also change. The APR does not reflect the interest risk of the credit. Uniform deposit interest rate index of the consumer current account: 0.50%. The General Terms and Conditions contain the detailed description of the deposit agreement. The Investment Products are subject to investment risks. Investment products are not bank deposits, are not government insured, are not an obligation of, nor are they guaranteed by Citibank/Citigroup or its other affiliates. Citibank Zrt. H-1051 Budapest Szabadság tér 7, Cg. 01-10-041029, Metropolitan Court acting as Court of Registration, PSZÁF III/41.048-9/2002, 20th December, 2002, a member of the Budapest Stock Exchange.

Media Contact:

Eva Hencz, Vice President, Public Affairs Officer, Citibank Zrt.
Tel: +36 1 374-5307, Mobile: +36 30 250-7473, Fax: +36 1 374-5378

Note to the editors
Citigroup (NYSE: C), the leading 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 and Banamex.
The Citigroup Foundation focuses its grants primarily on financial education and community development, along with arts and culture, health and human services, and the environment. Additional information may be found at www.citigroup.com