Citigroup is Best Bank For Cash Management in Euromoney's 2005 Global Cash Management Survey

Highest in Overall Client Satisfaction and Usage Globally

Citigroup wins first place in key regions including Europe, Africa, North America and Latin America

New York, October 28, 2005 — Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking has been named the "Best Global Bank for Cash Management" in the 2005 cash management survey conducted by Euromoney, marking the 7 th consecutive year the bank has been recognized with this honor. Citigroup scored the highest globally for both usage and overall client satisfaction – the first time any financial institution has ever won in both the survey categories!

Highest Global Usage

Once again, this year Citigroup placed highest in overall client usage on a global basis maintaining its leadership position from 2004. This trend was also seen in the regional usage rankings where it was given the highest ratings in Europe, Africa, North America and Latin America, and maintained its 2004 ratings in Asia and the Middle East.

Greatest Client Satisfaction

Citigroup came in first in overall client satisfaction, dramatically improving its standing from 2004 where it came in sixth. Global Transaction Services was rated highest in many key categories including global coverage and delivery, quality of online security, effective use of up-to-date technology, provision of cross-border cash pooling, contingency planning capabilities and preparedness, access to all applicable clearing systems, innovative payment/collection methods, in-country client service, ability to send bulk file payments regionally or globally, credit rating, comprehensive electronic banking capabilities and seamless integration of system interfaces.

Client Feedback

"Because the Euromoney ratings are based on the candid assessments of our clients," says Paul Galant, Head of Global Cash Management at Citigroup Corporate and Investment Banking "we are very pleased to have achieved these winning results. These rankings are additional evidence that our global reach, comprehensive portfolio of solutions, innovative technology and superior service quality are recognized and appreciated in the marketplace."

Survey Methodology

Euromoney polled cash managers, treasurers and financial officers at 4,500 non-financial corporations across 68 countries, with questions relating to international cash management services. Categories included product range and diversity, overall service quality and pricing, technology platforms, interoperability and global reach. Respondents were asked to rate services offered by their lead cash manager.

The Euromoney Cash Management survey is recognized as a benchmark for the industry evaluating the performance of financial institutions global cash management services. The findings are based on interviews with cash managers, treasurers and financial officers around the world.

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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 Corporate and Investment Banking

Our Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients - our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today's global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.