NXP Semiconductors Awards Citi Asia Pacific Cash Mandate

Hong Kong, March 19, 2008 - Citi has won the regional cash management business of NXP Semiconductors, one of the world’s leading manufacturers of semiconductors. The mandate covers NXP entities across Australia, China, Hong Kong, India, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

Citi captured this piece of cash management business by offering NXP an unparalleled range of cash management services and innovative host-to-host solutions. Citi will supplement the collection and payment solutions with an efficient global concentration solution to create a centralized cash pool for more effective management of liquidity. In light of recent regulatory changes across Asia, Citi has included additional countries into the global structure.

By partnering with Citi, NXP has implemented an automated just-in-time funding process across most countries in Asia that allows individual country units to focus on their core operations. The mandate demonstrates Citi’s strength in providing innovative solutions, cross-border servicing capabilities as well as serving both local and global treasury requirements.

The deal also highlights Citi's dominance in structuring regional cash management solutions in Asia Pacific, with NXP joining the majority of Fortune 500 as major cash management clients of Citi regionally and globally. Based in the Netherlands, over 50% of NXP's global sales come from the Asia Pacific region.

Desmond Tay, Head of Asia Treasury said: “We are pleased to partner with Citi, who have proved that they understand our Asia Pacific cash management requirements. We have confidence that the innovative solutions will further enhance the efficiency of our treasury operations.”

Added Luc de Dobbeleer, Global Treasury and Risk Management at NXP: “Citi's innovative cash management capabilities coupled with detailed analysis of our operations enabled us to jointly design the appropriate solution in Asia Pacific. We are pleased with Citi's flexibility in meeting our requirements and delivering a customized solution to help us meet the goals of our treasury operations. ”

Commenting on the mandate win, Ivo Distelbrink, Head of Cash and Trade Sales Asia Pacific said: “NXP is yet another important cash management win for Citi in Asia and again displays our dominance in the technology sector. This is the latest regional deal won by Citi, continuing our virtual clean sweep of complex regional cash and treasury management mandates in the region.”

###

About Citi
Citi is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.

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, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.

Copyright ©2008 Citibank, N.A Citi and Arc Design and Citibank are trademarks and service marks of Citigroup Inc. or its affiliates, used and registered throughout the world. The above information is being provided solely for information purposes by Citi. At the time of publication, this information was believed to be accurate, but Citi makes no representation or warranty as to correctness of the information set forth above. The above information does not constitute a recommendation, solicitation or offer by Citi for the purchase or sale of any securities, nor shall this material be construed in any way as investment or legal advice or a recommendation, reference or endorsement by Citi.