Kuwait Investment Authority and Citi: Ten Years of Securities & Fund Services Cooperation

Kuwait City - 10 March, 2008 – Kuwait City- Kuwait Investment Authority (KIA) and Citi recently celebrated 10 years of mutually beneficial relationship in the area of Securities ’ Fund Services. A simple but impressive ceremony was held in Kuwait to celebrate the decade-long partnership. This event manifested the strong relationship which exists between the two institutions.

Speaking on the occasion, Mr. Othman Al Issa, Executive Director, Operations & Administration Department, commended Citi’s commitment to the best-in-class service to KIA in the Securities ’ Funds Services space.

"Citi was always responsive to KIA’s needs and continued to invest in technology and human resources to ensure that KIA received the best possible service and we hope that it will continue to be a reliable service provider in future as well," said Mr. Al Essa. He also paid tribute to the senior management at KIA during late 1990s who had the foresight to appoint Citi as one of the service providers.

Raj Dvivedi, Citi Country Officer Kuwait, welcomed the distinguished guests from KIA and gave a briefing on Citi’s operations in Kuwait. "Citi’s decision to open a local branch in June 2006 reflects its long term commitment to the people and Government of Kuwait. In addition to our stated business targets, Citi in Kuwait also plays its due social role in training young Kuwaitis through various training programs. This is in line with our role as responsible corporate citizen," said Mr. Dvivedi.

The select gathering was also addressed by Mr. Jervis Smith, Managing Director ’ Head of Financial Institutions Group, Middle East who acknowledged that that this long association could not have been possible without the guidance of KIA’s senior management.

Mr.Smith appreciated the support and professional disposition of the Investment Accounts Department team which made working with KIA a pleasure as well as a challenge. He reiterated Citigroup's commitment to KIA and assured them that Citigroup will continue to make the resource allocations necessary to KIA’s service provider of choice.

Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.


About Citi
Citi, 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, securities brokerage, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.