Citigroup Completes Its First Lending Transaction In Taiwan Securities

Hong Kong – April 21, 2006 — Citigroup is the first lending agent to complete a securities financing transaction in Taiwan. Securities Services, a part of Citigroup’s Global Transaction Services, a business unit of Citigroup Corporate and Investment Banking, facilitated the trade.

Previously securities financing in Taiwan was carried out between borrower and lender directly, with both sides working through the regulations themselves. Citigroup, acting as an agent to both sides, handled all the regulatory requirements involved in the transaction. This ensured greater efficiency and ease of access for the counterparties involved that allowed a global investor to lend their Taiwanese portfolio.

Citigroup worked with Taiwanese regulators to allow an Agent structure under the current framework, opening up the Taiwanese market to new sources of liquidity, benefiting the development of Taiwan's local capital markets.

“We are extremely happy to be able to offer this new service and benefits to our clients, being the first of its kind in the Taiwan market”, says Tim Liu, Asia Pacific Product Manager for Securities Services.

Securities financing or lending is the temporary transfer of securities on a collateralized basis, allowing portfolio managers to earn a fee on their portfolio and the borrower of the stock to execute their trading strategy. Citigroup develops innovative solutions to meet clients’ needs in the securities financing space. Citigroup already carries out securities financing in Japan, Korea, Hong Kong, Singapore and now Taiwan. As regulations permit, Citigroup will expand its securities financing business around the Asian region.

According to David Russell, Managing Director of Citigroup’s Asia Pacific Securities and Funds Sales, “A number of Securities Markets across Asia Pacific are introducing new regulations to allow Securities Borrowing and Lending. Citigroup is committed to being at the forefront of these new market developments and to thereby bring the greatest benefit to our clients across the region.”

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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, and Banamex. 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.