Citigroup Announced "Best Bank for Settlement" in 2005 Global Investor Survey

London, July 14, 2005 – Citigroup has been awarded “Best Bank for Settlement” in the 2005 European clearing survey conducted by Global Investor.

Citigroup dominated this year’s survey, earning further top accolades by winning the four other major categories – Best Bank for Managing Fails, Best Bank for Managing Cash Flow, Best Bank for Providing Financing and Financing Alternatives, and Best Bank for Protecting Interests during Market Turmoil.

All categories were further improvement on 2004, when Citigroup was placed second in each of the above categories.

The Global Investor European Clearing survey, which is recognized as a benchmark for the industry, evaluates the performance of banks’ securities clearing services in Europe for both equities and fixed income. The findings are based on interviews with the administrators’ clients around the world.

“Because the Global Investor ratings are based on the candid assessments and opinions of our clients,“ says Diana Chan, Global Head of Market Advocacy, Securities and Services, Citigroup Global Transaction Services, “we are extremely pleased to have received these winning results. These rankings are additional evidence that our global reach, comprehensive portfolio of products and superior service quality are increasingly appreciated in the marketplace.”

In particular, the survey results revealed a shift in client attitudes towards service. Fees/cost are still considered important, however, they are followed by settlement efficiency. This does not surprise Diana Chan at all. “Broker/dealers are very price conscious,” she says. “When a new market entrant promises them a fantastically low price for settlement, they are shrewd enough to question what is included in this 'low price.' If the price is low and so is the quality of service, they are rightfully asking themselves whether they would rather pay more and get a better service.”

In the survey results, a number of the providers that Global Investor spoke to said that corporate actions had become a much more important focus area. This is reflected in the results, which show corporate actions as the most sought after product, followed by cash management and securities lending finance capabilities.

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Citigroup
Citigroup, 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, and Banamex. Additional information may be found at www.citigroup.com.

Citigroup® Global Transaction Services
Citigroup® Global Transaction Services is a leading provider of integrated cash management, trade, securities and fund services for corporations, financial institutions, intermediaries and governments around the world. With over $ 139 billion in average liability balances, more than $ 7.98 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 Corporate and Investment Banking, 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