Citigroup Gives Commercial Credit New Look as "CitiFinancial"

1,200 Branch Offices Across the US and Canada Get Makeover

Rebranding Effort Draws on Strengths of Citibank and Travelers Brands; Reflects Citigroup's Broad Capabilities in Consumer Financial Services

New York — Citigroup today unveiled a new look for its Commercial Credit consumer finance business. Beginning September 7^th, more than 1,200 Commercial Credit offices in 45 states and Canada will be renamed CitiFinancial, and feature visual imagery consistent with Citigroup's new global brand identity.

          "Over the years, Commercial Credit has enjoyed tremendous success as a cornerstone business of what is today known as Citigroup," noted Robert B. Willumstad, Head of Global Consumer Lending for Citigroup. "This new name, CitiFinancial, allows our consumer finance business to leverage the considerable strength and name recognition of our Citibank brand. But more importantly, it better reflects our ability to meet the broad financial needs of consumers. As a case in point, fully one-third of Commerical Credit customers already carry Citibank credit cards."

          Commercial Credit — Consumer Lending Success in Small-Town America

          Commercial Credit was founded in 1912, and acquired by Citigroup Chairman and co-CEO Sandy Weill in 1986. Mr. Weill later added Smith Barney, Primerica Financial Services, Travelers and Salomon Brothers, which were known collectively as Travelers Group, before merging with Citicorp in 1998.

          Last year Commercial Credit generated after-tax profits of $292 million, an increase of 27 percent from the previous year, and currently has total net receivables of $13.5 billion, making it the third largest consumer finance company in the industry.

          Today Commercial Credit has over two million customers who live in small towns or suburban areas within a few miles of a Commercial Credit branch office. While Commercial Credit now has a new identity as CitiFinancial, the company's CEO, Marjorie Magner, promised that consumers will continue to benefit from the highly-personalized service they've come to expect as customers of Commercial Credit.

          "In truth, the only thing that's really changing is the name over the door," explained Ms. Magner. "Local management, consumer-friendly service and community orientation will all remain the same. And our new name brings 'Citi,' which has tremendous recognition among consumers, to more than a thousand places in middle-market America where Citibank has not had a physical presence."

          The renaming of Commercial Credit as CitiFinancial is part of a plan by Citigroup to revitalize the "citi" brand identity and apply it to many of its major business units. The CitiFinancial name, and all accompanying signage and marketing collateral, have characteristics that reflect Citigroup's distinctive corporate lineage, including "Citibank-blue" typeface and a red arch (representing the Travelers umbrella) which connects the two i's in "citi."

          Citigroup plans to continue a gradual roll-out of the revitalized "Citi" logo in its U.S. Citibank branch network, as well as other related businesses, including U.S. credit cards, over the coming months. SSB Citi Asset Management, Citigroup's global money management unit, and citi f/i, Citibank's stand-alone Internet banking offer, also use the new logo.

          Photographs of the new CitiFinancial store front, as well as a computerized version of the new logo, are available to the media upon request.

          Citigroup (NYSE:C) is the world's most global financial services organization. Citigroup's consumer businesses cover a broad range of financial services in 57 countries – retail and private banking, credit and charge cards, mortgage lending, consumer lending, personal financial planning, personal insurance and investment brokerage and counseling. These services are marketed through Citibank, Commercial Credit, Primerica, Travelers Life & Annuity and Travelers Property Casualty.