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Citigroup Inc. (NYSE: C)
January 18, 2005
Citigroup and its Employees Contribute $7.4 Million to Tsunami Relief
New York, New York — Citigroup (NYSE: C) and its employees have contributed $7.4 million to provide relief and reconstruction in the aftermath of the South Asia tsunami disaster, the global financial services company announced today. Citigroup expects the total will grow as the Foundation continues to match employee contributions to tsunami relief efforts.
As of January 18, more than 15,000 of Citigroup’s employees around the world had donated more than $2.2 million in support of the relief efforts. The Citigroup Foundation is matching these donations with a corresponding contribution of more than $2.2 million to the Red Cross and will continue to match employee donations to the relief effort. Combined with the Foundation’s USD$3 million commitment to the relief effort, that brings Citigroup’s total tsunami relief cash contribution to more than $7.4 million to date.
“The response of Citigroup employees has been tremendous,” said Chuck Prince, CEO of Citigroup. “These impressive numbers are a direct result of our employees’ support and generosity. Special thanks go to Marge Magner, Chairperson of the Citigroup Foundation, and to all the employees in Citigroup Asia Pacific who have been actively involved in volunteering and fundraising efforts, and finding creative ways to help some of the hardest hit areas.”
Citigroup businesses and employees are finding other ways to assist the relief effort. In India, Citibank's Internet team established a payment gateway for the Prime Minister's Relief Fund within 36 hours of the Prime Minister's request. Citigroup was the first corporation in Indonesia to provide employee volunteers to the Red Cross Tsunami Relief Command Center in Jakarta, and employees have also been giving time to USAID and the American Chamber of Commerce to load relief supplies and food onto planes bound for Aceh and North Sumatra. In Malaysia, 210 staff members volunteered over 1,000 hours in four days to sort and pack supplies for non-profits organizations that are aiding the millions affected.
Shortly after the disaster in Sri Lanka, the Colombo branch and staff initiated a relief action plan to donate dry rations, medical supplies, clothes and bottled water to centers set up by the government. In Thailand, employees have volunteered at the British Embassy to provide record management support to embassy staff who were overwhelmed with inquiries, and Citigroup is providing office space and equipment for the U.N. Joint Logistics Center in Bangkok.
Operations & Technology teams in the region have worked around the clock to enable various channels, including ATMs, to accept donations. And Citigroup businesses from Hong Kong to the U.K. have been working on ways to make it easier for customers to contribute to the relief efforts.
On December 29, 2004, the Citigroup Foundation announced it would provide USD$3 million in support of South Asia tsunami disaster relief efforts and would match all employee donations to legitimate non-profit or non-governmental organizations (NGOs) working in support of South Asia tsunami relief efforts with a corresponding contribution to the Red Cross.
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Citigroup (NYSE: C), the preeminent global financial services company with some 200 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 Life and Annuity. Additional information may be found at: www.citigroup.com.