CitiDirect® Online Banking Live with Trade Services for Financial Institutions

Award Winning Banking Platform Enhances Trade Functionality

1 December 2003, New York - Citigroup Global Transaction Services, a unit of Citigroup (NYSE: C) and a leader in transaction processing announced today that financial institutions can now use CitiDirect® Online Banking for trade services. With this new module designed specifically for correspondent banks, CitiDirect users can issue commercial letters of credit, letter of credit amendments, reimbursement authorizations, reimbursement amendments and free form trade services messages.

Financial Institution clients benefit from this Internet-based offering designed specifically for their particular needs, taking into account the subtle yet important differences in transaction wording and work flows when the initiator of a trade transaction is a bank rather than an importing company. And they have access to the full global network of Citigroup's trade services processing sites, encompassing 97 cities in 72 countries.

Clients can avoid the high cost of sending these transactions via telex or courier, the lengthy delays of surface mail, and the lack of security with hard copies. Clients using CitiDirect enjoy a high degree of straight-through transaction processing and are able to eliminate the slowdowns associated with manual telex test keys or signature verifications. Preformats for repetitive transactions and library look ups for frequently used names, addresses and text clauses make initiation even easier.

"Financial Institutions in the emerging markets are an important part of our correspondent banking network," said Naveed Riaz, Managing Director and Global Head of Trade at Citigroup. "Now, these clients can use CitiDirect® Online Banking, the award-winning Internet platform to support their trade services requirements. With CitiDirect, they get access to the latest technology that allows them to handle their transactions quickly and cost effectively," he concluded.

CitiDirect® Online Banking is available in 21 different languages, increases efficiency and improves the ability of financial institutions and corporate treasurers to make critical trade finance, cash management and liquidity decisions. To view an online demo and take a guided tour of CitiDirect Online Banking's capabilities, please visit www.citidirect.com.

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About Citigroup
Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides 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, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.

About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading provider of integrated cash management, trade and securities services for corporations, financial institutions, intermediaries and governments around the world. With over $ 92 billion in average liability balances, more than $ 5 trillion in assets under custody and the largest proprietary branch network, Citigroup's award-winning operating systems and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing cycles, and re-engineer receivables and payment processes. Citigroup® Global Transaction Services provides clients with access to Citigroup's full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 90 local markets. For additional information, see www.transactionservices.citigroup.com.

Citigroup Global Transaction Services is part of Citigroup's global corporate and investment banking group, which provides complete financial solutions to corporations, governments and institutional investors in more than 100 countries. Award-winning businesses include corporate and investment banking, sales and trading, transaction services, commercial finance and insurance products. Additional information can be found at: www.citigroupgcib.com