CITI LAUNCHES NEW COLLATERAL MANAGEMENT SERVICES UNIT

RECRUITS KEY INDUSTRY TALENT TO RUN BUSINESS – RAJEN SHAH AS GLOBAL HEAD, PIERRE MENGAL, ASIA REGIONAL HEAD

New York, NY - May 19, 2010 – Citi today announced the creation of a new Collateral Management Services unit within its Securities and Fund Services business. Rajen Shah joins from JPMorgan Chase as Global Head; Pierre Mengal joins from Standard Chartered Bank as Asia Regional Head.

In his new position, Mr. Shah will be responsible for leading the development of a global Collateral Management Services capability for Citi's Securities and Fund Services. Mr. Mengal will be responsible for collateral-related product developments for intermediary and investor clients in Asia.

Citi continues to invest in its Securities and Fund Services business, and has made many strategic hires to support its growth in 2010. Collateral Management is the latest in a series of new capabilities that Citi is offering its clients. It will offer clients the full breadth of collateral services including: exposure monitoring, margin calling, collateral optimization and rehypothecation.

"Increasingly, in today's marketplace, clients are looking to third parties to service their collateral management needs," said Neeraj Sahai, Global Head of Securities and Fund Services, Citi. "With these two hires, Citi reinforces its commitment to providing clients with value-added services that help them improve efficiency and mitigate risk across the life cycle of an asset."

Prior to joining Citi, Mr. Shah was Product Executive-Global Custody at JPMorgan Chase. During his 14 years with that firm, he held a number of executive positions, including Product Executive-Clearance and Collateral Management, Global Head of Operations-Derivatives Collateral Management, EMEA Head of Operations-Derivatives Middle Office and Program Manager-Derivatives Processing Re-engineering. He began his career as a management consultant with Accenture. Mr. Shah will be located in London.

Mr. Mengal joins Citi from Standard Chartered Bank Singapore where he was Global Product Head Broker Services & Collateral Management. Prior to joining Standard Chartered, Mr. Mengal spent eight years at Lehman Brothers where he held a number of senior-level positions within Treasury in London, Tokyo and Hong Kong. Mr. Mengal will be located in Singapore.

Through its Securities and Fund Services business, Citi's industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $11.8 trillion of assets under custody and the industry's largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain.

Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the first quarter of 2010, it held on average $319 billion in liability balances and $11.8 trillion in assets under custody.

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About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.