Citi Launches European Multiple Market Access, a consolidation of Direct Custody and Clearing Accounts in Europe

Pan-European Solution Offers Flexibility, Efficiency and Standardisation

London, July 23, 2008 - Citi today announced that its Global Transaction Services business has launched a new service that will allow clients to continue to access markets on a direct basis but benefit by the consolidation of securities and cash accounts. The pan-European solution was developed in anticipation of the changes that will occur as a result of continued consolidation of the European market and offers clients the flexibility, efficiency, and standardisation they will require in the harmonised landscape.

Citi's solution will consolidate direct securities services for European markets into a single legal vehicle and technical platform, giving clients the choice when securities and cash accounts for different markets are to be merged into single accounts. By utilizing a single point of access, contracting with a single legal vehicle, maintaining a single securities account and a single cash account per currency, clients will be able to directly access multiple markets across Europe.

Clients will have the flexibility to choose the account structure that suits their business model. They can continue with the current country specific model or, with a single account structure clients will benefit from a standardised, consistent account structure, customer service, operating models, instructions and reporting for clearing, settlement and custody services, enabling them to gain economies of scale and achieve operational savings.

Initially focused on the Euronext markets, the offering is now live in Belgium, France and Netherlands with planned roll of Portugal in early in 2009. There is also the potential for further roll outs into other European markets later next year.

Satvinder Singh, Managing Director and Head of Citi's Direct Custody and Clearing/ Intermediaries business in Europe, Middle East and Africa, said, "As the largest pan-European provider of custody services, it is fitting that Citi would be the first to offer multiple market direct custody and clearing accounts in the region. "The European landscape is changing and Citi is well positioned to allow our clients to gain opportunities from the harmonised market by offering the flexible solutions today that the market and clients will demand tomorrow. With this new service, clients gain efficiencies right through the settlement process."

Citi's proprietary direct custody and clearing network of 52 markets, 27 across EMEA, is the largest, most global and pan-European in the world. Citi clients benefit from dedicated client service teams in country who provide local expertise combined with globally consistent services that are top rated in the industry.

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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 brands include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.