For Immediate Release Inc. (NYSE symbol: C) Singapore, 16 March 2006

CITIBANK IS THE TOP BANK IN SINGAPORE IN TERMS OF SERVICE QUALITY

Singapore Service Quality Barometer 2005 conducted by Asia Insight ranked highest in Customer Commitment Index score

Singapore – Citibank has emerged as the clear leader amongst banks in the Singapore Service Quality Barometer 2005, the first-of-its-kind benchmarking survey by Asia Insight. The survey ranked 8 banks by polling more than 400 consumers in a random sample on 29 Key Performance Indicators of service quality, and providing a Customer Commitment Index score for each bank, and for the industry.

Citibank received a Customer Commitment Index score of 61, compared to the other 7 banks, which scored between 52 to 59 (an average of 56). The bank also garnered top positions in 17 out of 29, and top 3 positions in 25 out of 29 Key Performance Indicators of service quality among all 8 banks surveyed (see Appendix 1).

Asia Insight’s Service Quality Barometer was motivated by Singapore’s national effort to build a world-class culture of service excellence by boosting service quality.

Mr. Jonathan Larsen, Chief Executive Officer and Country Business Manager, Citibank Singapore Ltd, said, “The survey findings are a strong endorsement by our customers. We work very hard to deliver superior service. However, we are far from satisfied. We are continuing to invest on most fronts to improve service levels and exceed our customers’ expectations. Our goal is to set a new benchmark for service in the banking sector in Singapore.”

The Customer Commitment Index measures the respondents’ level of satisfaction and loyalty to the banks surveyed. Based on these 2 yardsticks, respondents were also classified as “Advocates”, “Dissatisfied”, “Flirters” and “Hostages” (see Appendix 2).

Compared to its peers, Citibank has the most number of “Advocates” (44% compared to an average of 34% for the other 7 banks), and the least number of “Dissatisfied” (25% compared to an average of 36% for the other 7 banks). The proportion of consumers who are “Flirters” and “Hostages” are 4% and 17% respectively.

The other 7 banks included under Asia Insight’s survey are DBS, HSBC, , OCBC, POSB, Standard Chartered and UOB.

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About Citigroup Inc.

Citibank is a member of Citigroup (NYSE: C), the leading global company which 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 , securities brokerage, and wealth management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at: www.citigroup.com.

About Asia Insight

Asia Insight is a full service research firm that offers a wide range of research services throughout Asia, Europe and the US.

Asia Insight’s extensive network spans 14 countries throughout Asia. More information can be found at www.asiainsight.com.

Media Contacts

Citibank Singapore Ltd Roger Pua Jenny Lim Tel: +65 6328 5471 Tel: +65 6328 5571 Mobile: +65 9741 2938 Mobile: +65 9088 0128 Email: [email protected] Email: [email protected]

Appendix 1 – Key Performance Indicators Of Service Quality

Citibank’s position Overall Satisfaction #1 Recommendation to friends, relatives, etc #1 Re-use (continue to do business) #2 Perceived Advantage #2 STAFF – Appearance of the staff #1 STAFF – Friendliness of the staff #1 STAFF – Knowledge of the staff #2 STAFF – Time and attention provided by staff #1 STAFF- Pro-activeness and assistance of the staff #1 INFORMATION – Information received from (brand) #1 INFORMATION – Understandability and clearness of written correspondence #2 INFORMATION – Accountability of information e.g. offers contract others #2 PROCESSES – Transaction time #1 PROCESSES – Payment Options #1 PROCESSES – Availability of goods and services #1 PROCESSES – Delivery of ordered goods and services #3 RESPONSIVENESS – Queuing time / waiting time #1 RESPONSIVENESS – Telephone contact #1 RESPONSIVENESS – Responsiveness to your queries #1 RESPONSIVENESS – After sales service #1 RESPONSIVENESS – Handling of complaints #1 PREMISES – Overall appearance #1 PREMISES – Business hours / Opening hours #3 PREMISES – Location #6 PREMISES – Accessibility #7 PREMISES – Layout (where to find what) #3 PREMISES – Number of Branch Offices #7 PREMISES – Number of ATMs #8 OTHERS – Credit Cards #1

Source: Asia Insight Research Consultants, 4Q 2005

Appendix 2 - Survey respondents’ attitudes on level of loyalty and satisfaction with banks

S Flirters Advocates A T Citibank - 14% Citibank - 44% I Other 7 banks - 11% Other 7 banks - 34% S F A Dissatisfied Hostages C T Citibank - 25% Citibank - 17% I Other 7 banks - 36% Other 7 banks - 19% O N LOYALTY

Source: Asia Insight Research Consultants, 4Q 2005