CITI’S OPENWEALTHSM AWARDED MANAGED SOLUTIONS INNOVATION OF THE YEAR BY MMI

Jonathan Flitt named "All-Star Achiever" for leadership and contributions in the managed accounts industry

New York - May 27, 2010 – Citi’s Global Transaction Services announced today that its OpenWealthSM solution was awarded "Managed Solutions Innovation of the Year" for 2010 by Money Management Institute (MMI). The MMI Industry Leadership Recognition awards, now in its second year, recognize firms that "have demonstrated innovation, growth and long term viability in the managed solutions industry". The awards were won by Citi’s Investment Administration Services (IAS), a unit of Securities and Fund Services. IAS delivers innovative middle- and back-office solutions, allowing asset managers to offload non-core support functions and enabling them to focus on growing their business and focusing on their customers.

OpenWealthSM received the Managed Solutions Innovation Award given to the firm that exhibited the greatest gain in efficiency or growth due to a technology or operations improvement. OpenWealth is the industry’s first Unified Managed Household servicing platform that provides automated household portfolio and tax optimization tools for distributors and sponsors of wealth management. Leveraging groundbreaking technology, OpenWealth delivers true tax-optimized Unified Managed Household capabilities on a single end-to-end platform scalable to hundreds of thousands of accounts.

Jonathan Flitt, Product Manager for Citi’s Investor Services and Co-Chair of MMI’s Technology and Operations Committee received the All-Star Achiever Award, given to the individual who has gone above and beyond in support of a committee of industry issue. MMI recognized Jonathan Flitt for his leadership position in numerous industry changing innovations that have resulted in sponsor and manager efficiencies, cost reduction, risk reduction and growth for Citi’s clients and their sponsors. Innovations included the MMI account opening hub in partnership with The Depository Trust & Clearing Corporation (DTCC) and launching the automated allocation processing and step out trade settlement for managers and sponsors.

"We are honored to receive these accolades from the Money Management Institute for our market-leading capabilities in the managed solutions space," said Neeraj Sahai, Global Head, Securities and Fund Services, Citi. "Since the winners are nominated and voted on by participants in the industry, the awards reflect the real-world benefits we deliver to clients across the marketplace. It is extremely rewarding to have received this recognition not only for the innovative solutions we bring to market, but also for the team that works on these solutions."

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 Citigroup’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, Citigroup’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 Money Management Institute
Since 1997 the Money Management Institute has been the leading voice for the global financial services organizations that provide advice and professionally-managed solutions to individual and institutional investors. Through industry advocacy, educational initiatives, regulatory affairs, data reporting and professional networking, MMI supports and advances the growth of managed investments. MMI members’ advice-driven investment solutions serve an evolving worldwide financial landscape and their organizations are committed to the highest standards of fiduciary responsibility and ethical conduct.

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.