Citibank issued Hungary's first real credit card ten years ago. Based on the most recent available statistics of the Hungarian National Bank, the total number of credit cards issued by financial institutions in Hungary reached 1.7 million at the end of 2007. Citibank has issued 230 thousand credit cards until May 2008 and claims a significant market share in card usage.

Persistent educational activities by Citibank from the beginning supported by the efforts of journalists have been instrumental in helping Hungarian customers understand the value of credit cards and benefit from wise card usage. Citibank continues to be a market leader in the credit card industry and it has the widest array of its own proprietary and co-brand cards on offer: Gold and Silver Citibank Credit Card, Gold and Silver T-Mobile-Citibank Co-brand Credit Card, Gold and Silver Malév-Citibank Co-brand Credit Card, Gold and Silver Shell MasterCard from Citibank, and the prestigious Platinum Credit Card.

Citibank offers outstanding security and peace of mind to its cardmembers including providing the option to display the cardholders' photograph and engraved signature on the front of the card to prevent misuse, PIN codes selected by the cardholders that can be easily changed any time free of charge, immediate free card blocking at any time through the 24-hour CitiPhone Banking Service, and a prompt SMS confirmation of the transactions for those subscribing to this service. Further, the bank operates a sophisticated Fraud Early Warning System (FEWS) that is a combination of a number of risk management processes which enables the bank's security professionals to detect any possible fraud cases in a most efficient way. As a result of these security measures on behalf of cardholders the fraud prevention ratio related to the Citibank credit cards is close to 100 percent.

Batara Sianturi, Citi Country Officer for Citibank Zrt. said: "We are proudly celebrating the 10th anniversary of launching our credit cards business in Hungary, as what we have introduced in 1998 was a completely new payment instrument in the Hungarian market. Certainly customers have already used debit cards, however they could hardly believe that we do not require them to place their money on a bank account with us to use their card, but they can freely spend from the credit limit provided by the bank. At the beginning, we could experience customers being concerned of indebtedness, but we helped them understand how the cards work and they realized how comfortable is to have this small plastic card in their pocket instead of going through long and complex application procedures for personal loans every time they want to buy something. Not to speak about the fact that the card offers an interest-free period under specific conditions. This was certainly a major milestone in the Hungarian financial market."

"At the beginning we had been exclusive credit card issuers for two years and in the first three years we had doubled our sales every year. After 2002, though other financial institutions began to introduce their credit cards but we continued to lead the market by providing unmatched services and benefits to our cardholders. Further, realizing that the credit card is still a relatively new product, as the leader we have run a variety of educational activities on television, radio, press, internet and customer brochures helping cardmembers to get the most benefits from wise card usage. To celebrate our 10th anniversary, we are launching several special customer promotions for new and existing cardholders." added Mr. Sianturi.

Thomas Matthew, Citibank Hungary's Cards Business Director said: "We have been continuously listening to our customers and getting their feedback as we innovated new benefits, products and services in our Credit Card Business. In addition, we leverage and bring to Hungary the expertise from our unmatched global experience in Cards. This is how we have been able to pioneer in the area of payments and can say today that we have the most relevant products in our offer and we provide the most unique services linked to the card. When we experienced, for example, that many of our customers wanted live customer service access round the clock to manage their finances, we introduced and continuously enhanced the 24-hour CitiPhone Banking Service to our cardholders. When our cardmembers indicated that they would like to pay their phone and other utility bills with their cards, we introduced the convenient Utility Bill Payment Service, helping them say good bye to queues and delays. When we realized that an increasing number of our customers wanted the convenience of easy monthly payments, we introduced for them the Equal Payment Plan service and later we developed the Loan Over the Phone to provide cardholders easy access to cash from their credit limit at lower rates."

"In addition to these, certainly the great partnerships with T-Mobile, Shell Hungary and Malév are of particular importance for us. We have partnered with three leading companies in their industry to develop our co-brand cards that offer value added benefits to our customers." continued Mr. Matthew.

Citibank has brought the following innovations to its customers during the last decade:

1. First to introduce a real credit card in the market in 1998.
2. First to introduce 24-hour telephone customer service for cardholders within its CitiPhone Banking service in 1998.
3. First to introduce a co-brand card on the Hungarian market with then Westel Hungary, now T-Mobile Hungary in 1999.
4. First to introduce a countrywide Direct Sales Agent network selling credit cards in 1999.
5. First to allow Utility Payment for Westel-Citibank (T-Mobile) co-brand card holders in 1999, and extended Utility Payment to the total credit card portfolio in 2004, allowing customers to pay public utility invoices - telephone, electricity and gas bills - automatically, from their credit cards.
6. First to have a co-brand card with an oil company, Shell Hungary in 2003. This was also the first card with a loyalty program, allowing collection of Shell SMART points. This product was renewed in 2006 under the name of Shell MasterCard from Citibank with extended benefits.
7. First to introduce Equal Payment Plan to credit cards in 2004 and still unique on the Hungarian market.
8. First to introduce Loan Over the Phone service related to credit cards in 2006 and still unique on the Hungarian market.
9. First to introduce a Platinum Card with Platinum Club privilege services in 2006.
10. First to introduce a co-brand card with an airline company, Malév Hungarian Airlines and link cards spending with the Frequent Flyer Program of the airline company, in 2006.

Today the credit card is more than simply a flexible and safe payment instrument since it offers a wide array of other related services, such as collection of bonus points for the Malév Duna Club Frequent Flyer program or rewards in the form of rebates for future Shell purchases, preferential shopping at partner shops, etc, that enhance the value and benefits for customers.

Citibank celebrates the 10th anniversary of launching the credit card together with its customers by offering many promotions throughout the year. Customers applying for Citibank proprietary credit cards after April 15th, will be able to use the cards with no annual fee in the first year and receive a 10 percent cash back, a maximum of 10 thousand forints of the amount of the purchases paid with the cards following 30 days of approval of the card application.

To read more about the Citibank Credit Cards, the related services, application criteria and fees, please visit Citibank Zrt.'s website at www.citibank.hu.