CITI RECOGNIZED FOR SUPERIOR MUTUAL FUND SERVICE BY NATIONAL QUALITY REVIEW

Earns 5-Star Rating for Call Center Service Quality

New York - March 9 – Citi announced today that its mutual fund transfer agent services were awarded the 5-Star performance rating for 2008 Call Center Service Quality by National Quality Review (NQR). Citi has been an NQR 5-Star performer in various mutual fund processing and telephone support categories over the past several years. Through its Global Transaction Services group, Citi is one of the largest transfer agent providers in North America servicing over 10 million shareholder accounts.

The NQR 5-Star rating is awarded to organizations within the top quartile of their competitive benchmark who demonstrate statistical, long-term service performance measured over a 12-month period. NQR utilizes a variety of methods to systematically monitor and analyze the transfer agent capabilities of mutual fund support firms, such as Citi. To evaluate telephone service quality, NQR employs "remote observations" of a random sampling of real customer inquiries among other performance measurement tools. Citi's achievement of "Best in Class" in the sub-category of Relationship Behaviour contributed to its attainment of the 5-Star award.

According to Fred Naddaff, Managing Director and Product Head, Citi Fund Services North America, "NQR's independent assessment recognizes our efforts to provide the best customer service, quality and shareholder experience in the fund industry. Winning the NQR 5-Star rating is a testament to our people – their expertise, hard work and daily commitment to putting the needs of our clients first."

Citi's shareholder servicing solutions support U.S. and international asset managers of both retail and institutional funds whose products are sold directly or through intermediaries. Its transfer agent service model is uniquely aligned by distribution channel–broker/dealers, financial planners, registered investment advisors, institutional servicing teams and direct shareholders–and caters to the requirements and expectations of each client constituency.

Citi's transfer agency services include:

  • Consolidated statements
  • Cash sweep
  • Draft processing
  • VRU customer service
  • Internet-based account service

Citi's operating controls are designed to minimize risk to funds and their shareholders, including a comprehensive anti-money laundering and fraud prevention program. Citi also maintains a transparent, independent compliance monitoring function to support a client's Rule 38a-1 compliance.

In addition to its award-winning transfer agency services, Citi offers fund and partnership accounting, fund administration, compliance, regulatory support, alternative investment services and front- and middle-office asset manager solutions.

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About National Quality Review
Founded in 1991, NQR offers a unique perspective to its clients on service quality performance. NQR's founding partners and staff specialize in service performance measurement, quality assessment, training, survey design, and statistical reporting. NQR has a staff of 75 financial service professionals with backgrounds in load and no-load mutual funds, insurance and variable annuity operations. The staff has an average of more than 15 years experience in financial services. Many of the individuals have earned Series 6, 63, or 7 licenses. Additional information may be found at www.nqrinc.com.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com.