More than double consumer current accounts were opened at Citibank Hungary during 2008 compared to 2007 based on year-end statistics, close to 70 percent of total year's growth coming from Zero Fee Bank Accounts launched last March. This significant increase underlines the strong customer demand for this product, all the more as preliminary research had shown that total annual bank account related administrative and transactional costs were some times in excess of HUF 50 thousand at certain financial institutions last year. Customer feedback has indicated a clear demand for a significantly higher interest rate payable on demand than the currently available 0.2-1.5 percent market average, which can allow a high short-term liquidity for customers while guaranteeing higher yields. In response to this customer demand Citibank now introduces the seven percent demand-type interest rate and cash back offerings linked to the Zero Fee Bank Accounts.

"The great interest in our Zero Fee Bank Account demonstrates the existence of a customer segment that wants and is able to leverage the advantages and benefits that we offer through this product, namely that all local currency domestic transactions are free in all channels. At the same time we have been listening to our customers telling us that they needed a solution that would allow them to maintain their liquidity while providing them higher interest rates", said Batara Sianturi, Citi Country Officer for Hungary.

"This is how we have developed our new service feature with outstanding benefits to our customers by offering a high on-demand interest rate that follows the Central Bank's base rate. In addition, we complemented this offering with a preferential cash back feature linked to debit card purchases, a service unique in the Hungarian market. We are very proud of introducing a new innovation to the Hungarian market with our cash back solution", added Mr. Sianturi.

The currently 7 percent interest rate payable on demand is available to those Citibank Zero Fee Bank Account holding customers who keep a constant HUF 300 thousand daily positive balance on their selected Zero Fee current account and open a Savings Plus account in person or through CitiPhone telephone customer service and transfer an amount at their preference to that savings account. Savings Plus accounts are free of any charge and Citibank pays a demand-type interest rate based on the daily balance following the base rate of the National Bank of Hungary, the actual interest rate being 2.5 percent lower than the prevailing base rate.

The cash back reward is 0.5 percent of the value of every retail purchase exceeding HUF 10 thousand paid with a Citi card linked to any Zero Fee Bank Account. Cash back eligibility requirements include opening of a Savings Plus account and maintaining a continuous positive balance on it. The cash back reward for every month is maximum HUF 10 thousand and is credited to the customer's current account on the last working day of the following month.

More information about the new features and other Citibank products and services are available on the local website at www.citibank.hu.