Citibank Zrt., a member of Citigroup and Malév Hungarian Airlines Zrt. today announced the launch of their co-brand credit card which will be available for individual customers beginning August 1, 2006. This unique reward based product on the Hungarian market offers all the benefits of a Citibank credit card including security and flexible payments with the opportunity to collect Bonus Points for the Malév Duna Club Frequent Flyer Program.

Whenever cardholders use their card for everyday purchases, fly with Malév or other partner airlines they will accumulate Points and can then obtain bonus air tickets at Malév and partner airlines for destinations throughout the world. By regularly using their credit cards, Gold cardholders can obtain a bonus air ticket even within a year.

At the product launch, Mr. Batara Sianturi, Consumer Country Business Manager for Citibank Zrt., said: "Our cardholders will enjoy the convenience and financial flexibility of our credit card and will benefit from the rewards of the very successful Malév Duna Club Frequent Flyer Program. We were the first bank to offer real credit cards on the Hungarian market in 1988 and the first co-brand card in 1999. We continue to extend our strategic alliances with highly reputable companies to leverage our strengths in bringing unique value and benefits to our customers."

Dr. Janos Gönci, Chief Executive Officer for Malév Zrt. said: "The Malév-Citibank credit card itself offers unrivalled benefits to Hungarian customers and by connecting it to Malév's Frequent Flyer Program will undoubtedly make it a very attractive credit card product in the market."

Frequent Flyer Points related to the co-brand cards can be collected by card activation and on the occasion of the first flight after joining the Malév Duna Club, as well as using the credit cards for all types of purchases in Hungary and all around the world. The Point system is uniquely set up to ensure a very fast collection and reward activation by the cardholders.

Upon activating the cards, a welcome gift of 2,000 Points is logged with the Silver card and 4,000 Points with the Gold card. Also, on the occasion of the first flight after joining the Malév Duna Club, a joining gift of 2,000 Points is rewarded to the Silver cardholders, while this gift is 6,000 Points for Gold cardholders.

Silver cardholders are granted 1 Point after each HUF 250 spending and double Points are logged in the first three months, while the Gold cardholders receive 2 Points for a spending of HUF 400 with their credit card, and double Points are logged in the first six months. Spending abroad always earn double Points, and there are a number of other promotions targeted to Point collection, such as Points received upon monthly card usage (75 points) and yearly card anniversaries (150 points), among others. Customers using their credit cards regularly, minimum once a month, will never lose their collected Points.* The Points system is for main and supplementary cards. However, supplementary cardholders are only entitled to Bonus Points related to using their cards for purchases.

Annual fee for Silver main cardholders is HUF 6,400, while for Silver supplementary cardholders is HUF 3,900. Gold main cardholders are charged an annual fee of HUF 16,400 and Gold supplementary cardholders pay a HUF 9,800 annual fee. 50% of the annual fee for all cards is waived in the first year. Pricing is otherwise similar to the terms and conditions of classic Citibank credit cards.

Mr. Vince Pribble, MasterCard Worldwide Global Key Account Manager said: "MasterCard is deeply honored to have the opportunity to provide its global acceptance network to such a high quality product as the Malév-Citibank co-brand credit card, which is one of the most up to date examples of co-brand credit cards in Hungary. We are convinced that the Malév-Citibank credit card is a truly extraordinary product in this market as it brings together some of the best elements of the co-brand partners' loyalty programs. As the result of the strong cooperation between issuing banks and travel companies, 9% of almost 3,000 MasterCard co-brand programs in Europe represent the travel-airline sector."

The new co-brand cards also feature the longest interest-free period (even 51 days) on the Hungarian market and a broad range of additional services such as the Equal Payment Plan, the Travel Pack, the Citibank Alerting Service, the Citibank Online internet banking service and the Citibank Credit Shield Insurance. Both Insurance Services are optional and not required to obtain the credit card. The Travel Insurance is offered by AIG Europe S.A. Branch Office in Hungary, and the Credit Shield Insurance is offered by Generali-Providencia Zrt., under the terms of the insurance agreements.

The Malév-Citibank credit card can be issued to customers who meet the standard application criteria of Citibank Zrt. Applications are accepted at any Citibank branch and sales center, as well as via Citibank's internet website. For further information, customers may call CitiPhone Banking telephone customer service at 06-40-248424 or visit www.citibank.hu beginning August 1.

Back to Press Room

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

Krisztina Németh, Head of Communications, Malév Zrt.
Office phone: +36 1 235-3646, Cell: +36 20 555-4150
www.malev.hu

Zoltán Zádori, PR Executive, McCann Erickson Budapest (MasterCard related issues)
Office phone +36 1 887 8170, Cell: +36 30 261 4505, Fax: +36 887 8277

Note to the editors

About Citigroup
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. Additional information may be found at: www.citigroup.com.

About Malév Hungarian Airlines
Malév Hungarian Airlines is one of the leading carriers in Central-Eastern Europe. Over the course of several decades of operation, the company has amassed huge experience in linking the cities of West and East Europe. During the summer timetable period, Malév operates services to 60 cities in 35 countries, and taken together with partner airlines this coverage rises to 78 cities in 42 countries. The airline has its own offices and general sales agents in 35 countries. In 2005, the national airline of Hungary carried a total of 3.2 million customers (scheduled and charter services combined).
Malév boasts one of Europe's most youthful fleets with an average age of just 4.43 years. Its fleet of 29 planes comprises two designed for long-haul operations and 27 for medium- and short-haul routes.
The company's long-haul scheduled flights link New York, Toronto and (in winter) Bangkok with Budapest. Malév has operated a flight to Beijing in partnership with Hainan Airlines since August 2004; this route is covered by aircraft of the Chinese airline.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes more than 16 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCardR, MaestroR and CirrusR, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com.