CITI AND MITSUBISHI UFJ TRUST AND BANKING CORPORATION LAUNCH JAPANESE DEPOSITARY RECEIPT SERVICES

Hong Kong - Dec. 12 – Citi Global Transaction Services, acting through Citibank, N.A., has entered into an agreement with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to jointly develop, market and offer Japanese Depositary Receipt (JDR) services. This agreement marks the first offering of JDR services, targeting issuers organized outside Japan that wish to raise capital in the Japanese financial market.

Under the agreement, Citi and MUTB will both provide services to issuers of JDRs. Citi, a leading provider of Global Depositary Receipt (GDR) and American Depositary Receipt (ADR) services, will bring its product innovation, transactional expertise and global knowledge to the arrangement. With operations in over 100 countries, Citi will also provide local market intelligence to JDR issuers, drawing on our unrivalled client relationships in emerging markets.

MUTB will act as trustee for JDRs, which is the functional equivalent of a depositary bank for ADRs/GDRs, utilizing its local trustee and transfer agency capabilities, an area where MUTB is a market leader in Japan.

By launching JDR services in conjunction with MUTB, Citi evidences its dedication to both providing the most innovative depositary receipt (DR) solutions globally and supporting new capital raising alternatives for international issuers. Furthermore, the agreement demonstrates Citi’s commitment to Japan and our ability to work with the strongest local partners to provide DR services in the most liquid capital markets globally.

The launch of JDR services by Citi and MUTB follows the successful introduction of Hong Kong Depositary Receipts (HDRs) in July 2008. Following the announcement by Hong Kong Exchanges and Clearing Limited (HKEx), permitting the issuance and trading of HDRs, Citi was the first bank to announce the launch of HDR services. Citi plans to continue its market leadership in launching DR programs on other local exchanges, thus deepening the investor base available to global issuers.

Citi has a long-standing presence in the DR business in Asia Pacific and globally, providing these services in over 40 countries. In 2008, Citi was awarded Best Depositary Receipt Bank at The Asset Triple A Awards for the fourth year running.

Alan Smith, Managing Director and Global Head of Issuer Services, Global Transaction Services at Citi said: "We are very pleased to have secured a mutually beneficial partnership for JDR services with Mitsubishi UFJ Trust, which will link together their market-leading domestic trust capability and Citi's extensive global network and DR expertise. We hope that our joint effort will facilitate the first JDR deal soon, with more in the future."

Toshiaki Kajiura, Managing Director, Mitsubishi UFJ Trust and Banking Corporation said: "Through the combined strength of MUTB and Citi, we will be best positioned to develop and market JDR products. JDRs are only at their starting point now, but through partnership on this product we remain positive on its success in the near future."

Yasuyuki Konuma, Director, Business Development, Listing Department, Tokyo Stock Exchange said: "Tokyo Stock Exchange is committed to the future of JDRs and in increasing the capital market options available to domestic investors. We welcome Citi and MUTB as two key participants of this important initiative."

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