CITI AWARDED NEW BROKERAGE, CUSTODY AND CLEARING MANDATES FROM BANQUE ET CAISSE D’EPARGNE DE L’ETAT

LONDON, VIENNA - September 15, 2008 - Citi today announced that its Global Transaction Services business has been awarded two new mandates from Banque et Caisse D'Epargne de L’Etat (BCEE). The Luxembourg-based bank has selected Citi to provide a single integrated electronic execution and custody solution, which will use Citi’s Lava Technology market access platform, CitiConnectSM for Securities, Citi’s trade life-cycle order to trade to settlement automation platform and Citi’s award-winning proprietary custody branch network.

This integrated Citi(R) Execution to Custody service provides a single counterparty to execute, settle and provide custody in all major execution markets worldwide. By combining Citi’s capital markets and securities capabilities, the firm provides clients like BCEE an optimal service, removing the operational inefficiencies and risks of dealing with multiple providers.

Michel Birel, Management Board Member, Banque et Caisse D’Epargne de L’Etat said, "For many years, we have enjoyed a valuable association with Citi as our U.S. dollar clearer and overall relationship bank. We included Citi in our competitive review of service providers when we required comprehensive brokerage and custodial services in the U.S. and Canadian markets. Citi was selected as our provider not only because of the expertise of its professionals but also for its market leading brokerage and custodial capabilities in a wide and diverse range of markets."

As a top rated broker and custodian with an expanding network of execution venues and the largest proprietary custody market, Citi is able to provide BCEE with full-service trading and operational support in the U.S and Canadian markets through its CitiConnectSM and Lava Technology platforms. Citi(R) Execution to Custody will make available to BCEE the sophisticated trading technology that gives them access to optimum liquidity pools, matching their trading and custody needs. These new mandates further deepen the long-standing relationship Citi has maintained with BCEE.

Citi’s ability to provide integrated services in multiple markets through a single infrastructure with a standardised setup was a key factor in BCEE choosing Citi to best support its Direct and Global Custody requirements.

Curtis Brill, Managing Director, Global Head of Electronic Markets for Securities and Fund Services at Citi, said, "We are delighted to strengthen our relationship with BCEE. Citi leads the way in smart order routing and asset servicing by acting as a single counterparty to execute, settle and provide custody in all major execution venues. Through our resources, technology, expertise and global footprint, we are able to leverage our institutional capabilities across the Citi enterprise to deliver optimal solutions to meet our clients' needs."

Citi’s Global Transaction Services offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network spanning over 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the 2nd quarter of 08, it held on average $276 billion in liability balances and $12.8 trillion in assets under custody

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About Citi’s Institutional Clients Group:
Citi’s Institutional Clients Group serves corporate clients, governments and institutional investors around the world, providing expertise and innovative solutions in banking, markets, transaction services and alternative investments. With a history dating back nearly 200 years, Citi today has a global network that includes offices in 104 countries, trading desks in more than 80 countries and transaction services infrastructure covering 140 countries. Citi aims to be trusted advisor to our clients, to execute flawlessly, to strategically commit capital and to always focus on innovation.

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

About BCEE
Founded in 1856, BCEE, the Luxembourg State and Savings Bank, is the doyen of the country’s financial institutions and one of the cornerstones of the financial community. BCEE’s capital is entirely owned by the Luxembourg State, making it the only important financial institution in the country without foreign shareholders

In 1994, BCEE got the excellent ratings of AA+ by Standard & Poor’s and Aa1 by Moody’s, which made it the best rated commercial bank in Luxembourg. In February 2007, Moody’s raised BCEE’s rating to the maximum rating of Triple A (Aaa), thereby once more confirming the Bank’s top quality and soundness as a deposit and credit bank.

Today, BCEE is a fully-fledged universal bank and offers the complete range of services that a national and international clientele can expect from its financial intermediary.

On the national level, BCEE is the main bank for private clients with important market shares in all activities, notably mortgage and consumer loans as well as savings deposits and asset management.

BCEE is the domiciliation and/or custodian bank for a large number of investment funds launched by different international promoters.