CITI APPOINTED SETTLEMENT BANK FOR STOCK EXCHANGE OF THAILAND

Bangkok - September 24, 2009 – Citi Thailand has been appointed by the Stock Exchange of Thailand (SET) to serve as a settlement bank for the 39 SET clearing house members.

Citi is the first foreign bank to be appointed by SET to facilitate the settlement role. Other settlement banks are Siam Commercial Bank, Bangkok Bank and Krung Thai bank.

In Thailand, all clearing members must use and appointed settlement bank to settle cash payment for all securities trades transacted on SET, MAI (smaller board), and BEX (bond).

To qualify as a settlement bank, banks mush not only provide a strong cash management infrastructure (a secure and high-end technology platform) but also demonstrate a long-term commitment to the capital market and clients.

Ms. Vira-anong Chiranakhorn Phutrakul, Managing Director, Head of Global Transaction Services, Citi Thailand said, "This marks an important day for Citi. We are proud to be the first foreign bank in Thailand to be appointed as a TSD Settlement Bank to perform the important function of securities clearing for the market.

"It further reinforces our expertise and ability and as a settlement bank, Citi will provide an end-to-end solution to the clients of brokers / sub brokers who use Citi as a custodian bank or for back office settlement processing. This is done through Citi's award winning technology platform, CitiDirect which provides secure, online access for transacting and to view reports."

She added, "Citi is committed to invest, as well play an integral role in supporting the market infrastructure. Our objective is to constantly streamline processes and deliver efficiencies to meet market and client demands."

SET Chief Marketing Officer, Market & Post-Trade Services, Sopawadee Lertmanaschai said, "The addition of Citi as our fourth settlement bank will provide more benefits for our clearing house members. Citi will enhance clearing system reliability and support for the Thai capital market. Not only does Citi bring a lot of experience it is also financially strong and meets SET requirements by having a reliable operating system amongst a number of other criteria."

The Thailand Securities Depository Co., Ltd. (TSD), a SET subsidiary, provides clearing and settlement service for securities trading on SET, the Market for Alternative Investment (mai), and the Bond Electronic Exchange (BEX).

The annual net settlement value of securities clearing and settlement in 2008 was THB625.88 billion (approx. USD18.40 billion), or 16% of trading value, with net settlement volume of 339.11 billion shares, or a daily average value of THB2.53 billion (approx. USD74.55) and a daily average volume of 1.37 billion shares.

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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, transaction services and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

About TSD and settlement banks
TSD, the subsidiary of SET which is its clearing house, acts as an intermediary of clearing and settlement process for its members. There are two methods of the payment, i.e., 1) to send/receive payment to/from their settlement banks, which are Siam CommBank PCL, Bangkok Bank PCL and Krung Thai Bank PCL and the latest, Citibank N.A., Bangkok and, 2) to send/receive the payment through the Bank of Thailand’s BAHTNET system. Settlement dates are on the third day following the trading date (T+3) for equities and on the second day following the trading date (T+2) for debt instruments.