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FOR IMMEDIATE RELEASE December 11, 2001 Citigroup Awards $1 Million Grant to United Negro College Fund's Technology Enhancement Capital Campaign New York - The Citigroup Foundation has awarded a $1 million grant to the United Negro College Fund (UNCF) for the organization's Technology Enhancement Capital Campaign (TECC). TECC is designed to strengthen the technology capacities of the 39 private historically black colleges and universities that are member institutions of UNCF. Citigroup's $1 million grant to TECC is payable over four years and will be targeted for completing the wiring of all the buildings on the 39 campuses, along with strengthening the hardware, software and technology training for faculty and students. A supporter of UNCF since 1966, Citigroup has awarded the organization over $5.5 million in grants. In 2002, Charles O. Prince, Citigroup's COO for Operations and Administration, will join UNCF's Board of Directors. "Technology is playing an increasingly important role in our everyday lives and in education and we are pleased to support the United Negro College Fund's technology initiative," said Charles V. Raymond, President of the Citigroup Foundation. "Our long-time support of the organization is indicative of their outstanding work and we know that making technology available on these 39 campuses will provide a valuable teaching tool for the faculties, and brighter futures rich with opportunities for thousands of students." The digital divide in higher education is greater than the digital divide among the nation's households. There is a 45% gap between American households and African- American households that own computers, and a 72% gap between students nationwide and students at UNCF member institutions who own computers," said William H. Gray, III, President and CEO of the United Negro College Fund. "We greatly appreciate Citigroup's support of our initiative which is enabling us to provide our institutions with the latest technology platforms and put personal computers in the hands of every student at historic black colleges and universities." UNCF's Technology Enhancement Capital Campaign is a comprehensive effort aimed at reversing the disparity in computer technology between UNCF member institutions and majority institutions. TECC is a one-time investment that will help modernize technology platforms by providing and upgrading the amount and quality of software and hardware at UNCF member institutions, along with providing training to the faculties and students to help them best utilize it. # # #
Citigroup (NYSE: C), the preeminent global financial services company with some 190 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers. The Citigroup Foundation focuses its grants primarily on community development and education, along with arts and culture, health and human services, and the environment. Additional information may be found at: www.citigroup.com. |