FOR IMMEDIATE RELEASE
October 27, 1999

Citibank Launches ClickCredit^SM: A Powerful New Online Shopping Tool for Consumers

Unique Online-Only Credit Line Provides Rewards; Security and 100% Satisfaction Guarantee Underscore Safety of Buying Online

Online Shopping Mall Offers Discounts at Popular Web Sites

A Pioneer in Bringing Credit Cards, ATMs and Online Banking to Consumers, Citibank Now Sets Its Sights on Revolutionizing Internet Commerce

New York — Citibank, the world's largest issuer of traditional credit card products, today introduced ClickCredit, a separate line of credit to be used exclusively for online purchases. Citibank has backed ClickCredit with rewards, features and services – including cash back and airline mileage rewards, transaction security and purchase protection/satisfaction guarantees – which are unrivaled among existing online consumer credit products.

          Although consumers are expected to spend nearly $7.3 billion shopping online this holiday season, up more than 121% from 1998, online purchases still account for only about 2% of total retail spending. Many people are still unsure whether the benefits of online shopping outweigh their concerns about privacy and security on the Internet. Citibank, as the largest credit card issuer, intends to leverage its industry leadership position and reputation for superior customer service to alleviate these consumer concerns and dramatically accelerate growth of the online retailing market.

          "Community and currency are the two most important enablers to shopping online so, as we thought about how Citibank could make it easier and more rewarding for our customers, we decided to focus on both of these criteria," explained A. Sami Siddiqui, Head of Citibank North America Cards. "Currency refers to the choice of payment vehicle, and Citibank is introducing a new line of credit, called ClickCredit, which is for use specifically when making purchases online. Community provides a comfortable place to shop where consumers are confident about buying, and feel that they are getting value for their dollar; we are addressing this need with CitiPlaza^SM."

          ClickCredit – Setting a New Standard for Online Shopping Rewards and Benefits

          Through ClickCredit, Citibank is introducing two products that will facilitate shopping online for its customers – Click Citi^SM Platinum Select^® and Click Citi^SM AAdvantage^®. While these lines of credit are not issued in the form of a credit card, they will feature many of the benefits and services that have become hallmarks of Citibank's traditional credit card offerings, as well as special rewards unique to the ClickCredit program. Features include the following:

• Earn Cash Back. Click Citi Platinum Select members will receive 2% cash back on all Internet purchases made through May 31, 2000; thereafter they will earn 1% cash back.
   
• Earn Double Mileage. Click Citi AAdvantage members will earn two American Airlines AAdvantage miles for every dollar spent online, through May 31, 2000; thereafter they will earn one mile for every dollar spent.
   
• Online Guarantee. ClickCredit customers will not be responsible for any unauthorized online charges made on their account.
   
• 100% Satisfaction Guarantee.* Citibank provides a 100% money-back guarantee on most online purchases that don't meet a customer's satisfaction requirements. ClickCredit customers also receive Price Protection* (if a customer sees an item purchased advertised online for less within 60 days, Citibank will refund the difference). ClickCredit customers also receive an Extended Warranty of up to one year. Click Citi Platinum Select customers receive an additional Purchase Assurance (Citibank provides refunds if online purchases are damaged, stolen or destroyed by fire).

          Along with the launch of ClickCredit, Citibank also introduced CitiPlaza, an online shopping mall which includes a group of online retailers who will provide special savings and benefits to Citibank customers. Among the merchants already featured with CitiPlaza are Barnes & Noble, CBS Sportsline, CDNow, Dell Computers, the Disney Store, Eddie Bauer, Fragrance.Net, FTD.Com, IBM, Nickelodeon's Red Rocket, Office Max, Omaha Steaks, Reel.Com and the Sharper Image, with others expected to be added shortly. CitiPlaza can be accessed through the Citibank Cards web site at www.citibankcards.com.

          "Over the years, Citibank has earned a reputation for its ability to apply technology to financial services in ways that truly improve the customer experience – we are the bank that made ATM banking user-friendly in the late 1970s, we pioneered telephone banking, and today our "Direct Access" online banking service is regularly cited as the best in the industry," noted Antony Jenkins, Director of Internet Initiatives for Citibank North America Cards. "With the explosive growth of the Internet, it was only natural for Citibank Cards to study the way consumers were reacting to it as a shopping channel. We found there were barriers that kept some customers from entering this new world of shopping, so today we are virtually eliminating those barriers by offering assurances that our customers will have a safe and rewarding Internet shopping experience. The Internet is changing the way people buy, and we believe that ClickCredit will now change the way they pay."

          ClickCredit customers can monitor their spending and make payments at www.citibank.com through features such as Account Online and CitiPay^®. Citibank's Account Online service enables its traditional credit card and ClickCredit customers to log on and manage their credit accounts. CitiPay allows customers to make payments over the phone or online by deducting them directly from any checking or savings account.

          Consumers can apply online for a Click Citi Platinum Select or Click Citi AAdvantage account. Online applications can be accessed directly at www.clickcredit.com, or through the Citibank Cards web site at www.citibankcards.com. Customers will be issued ClickCredit cards which will include their account number; the cards are for reference only and are not used when actually making a purchase.

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