Citigroup’s Commercial Cards Business Expands into Austria and Appoints New Business Development Managers in Western Europe

April 22, 2005, London - Citigroup Global Transaction Services, a unit of Citigroup, and a leading provider of commercial card services, has announced a new distribution channel for its card programme in Austria, bringing the number of countries around the world now served by Citigroup Commercial Cards to thirty-three with sixteen countries in Europe.

Citigroup’s Austrian clients will now be able to take advantage of a service that is tailored to meet local market conditions, laws and regulations. The card will be issued in Euros and will have local language programmes as well as local language client service support. Austrian-based organisations, can now use Citigroup’s Commercial Cards to help manage, monitor and analyse their travel and entertainment expenditure from a single card provider with a range of product options.

“Our new distribution channel in Austria is part of our ongoing commitment to Europe,” says Vincent Eavis, Director of Business Development for Commercial Cards, Citigroup Global Transaction Services EMEA. “As a global card issuer we can offer a single international service, whilst providing our clients with the benefits of a solution which is adapted to meet fundamental local needs. Clients get the highest possible levels of service and support and are able to maximise the advantages of a corporate card programme, such as a global travel and entertainment policy, standardised reporting and improved accountability.”

The European growth of Citigroup’s Commercial Cards operations is further illustrated by the regional appointments of Zeljko Mautner (Germany Austria Switzerland), Melanie Coutin (Belgium, Netherlands, France) and Marco Vernazza (Spain, Italy, Portugal) who all join as Business Development Managers. Mr. Mautner and Ms. Coutin have extensive experience from American Express’ Global Network Services (GNS) division and Mr Vernazza joins from Royal Bank of Scotland.

“Melanie, Zeljko and Marco are all valuable additions to our team,” said Vincent Eavis. “Expanding across European markets is an important focus for us, and they will all play key roles in building on our existing customer foundations in these nine countries.”

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About Citigroup
Citigroup (NYSE: C), the preeminent 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 Citigroup Global Transaction Services
Citigroup Global Transaction Services is a leading provider of integrated cash management, trade finance, securities and fund services and commercial card solutions to corporations, financial institutions and governments around the world. The Citibank® Commercial Cards products – Citibank® Corporate Card, Purchasing Card, One Card and Electronic Account – deliver the industry’s most advanced and innovative Web-based purchasing, payment, expense management and data integration solutions for business-to-business transactions. Citigroup is the largest bankcard issuer in the United States. For more information on Citibank Commercial Cards, please visit www.europe.citimanager.com.

With over US$ 121 billion in average liability balances, more than US$ 7.9 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 100 local markets. For additional information, see www.transactionservices.citigroup.com.