Citigroup Announces New Client of Asset Manager Solutions: Vontobel Asset Management, Inc.

Institutional Money Manager Selects Citigroup for Separately Managed Accounts Operations Servicing Platform

New York, March 29, 2005 – Citigroup® Global Transaction Services has today announced that it has been selected by Vontobel Asset Management, Inc. to provide operations service support for its retail separate accounts.

"Due to Citigroup's historical presence and capabilities in the Separately Managed Accounts (SMAs) space, they were a natural choice to provide operations support service for us," says Fredy Nyffeler, Chief Financial Officer, Vontobel Asset Management, Inc. "We believe Citigroup will continue to deliver a best-in-class operations model to allow us, both now and in the future, to profitably and efficiently expand in the SMA marketplace."

Added Andrew Clipper, Director and Product Manager for Asset Manager Solutions with Global Transaction Services, "Among the reasons Vontobel engaged Citigroup is our technologically advanced end-to-end capability and our experienced staff from leading Sponsors and Investment Managers such as Dana Fowler in Product Management and David Liddy in Operations. Together, this demonstrates our firm commitment to this industry and allows us to offer our clients innovative solutions to address their operating needs in this growing segment of the SMA marketplace".

###

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 $121 billion in average liability balances, more than $7.86 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.

About Citigroup
Citigroup (NYSE: C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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 Vontobel Asset Management, Inc.
Vontobel Asset Management, Inc. is a wholly owned subsidiary of Vontobel Holding AG and a sister company of Bank Vontobel AG, one of Switzerland’s foremost private banks for over eighty years. Vontobel Holding AG is an exchanged-listed Swiss Company in which the Vontobel families and the Vontobel Foundation hold a controlling interest. Vontobel Asset Management, Inc. has a track record of successfully managing U.S. equity assets employing its time tested value oriented investment approach for 15 years. Additional information may be found at www.vontobel.com.