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FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
January 29, 2008
Citi Awards $100,000 Grant to the Long Island Housing Partnership
Grant Supports Home Ownership Mortgage Education "HOME HELP" Mortgage Counseling Program for Eastern Long Island Towns
Hauppauge, NY The Long Island Housing Partnership, Inc.,(LIHP) will receive a $100,000 grant from the Citi Foundation today for the Home Ownership Mortgage Education (HOME) HELP mobile mortgage counseling program at 6 p.m. at Citi's Hampton Bays branch, according to Peter Elkowitz, President and CEO of LIHP. Elkowitz said residents are in need of mortgage counseling, especially in today's market with the rising number of foreclosures and predatory lending practices.
"On behalf of Citi and the Citi Foundation, I am pleased to present this grant for $100,000 to the Long Island Housing Partnership for their continued dedication and commitment to serving the needs of Long Island families," said John Stewart, Managing Director, National Distribution, Citibank. "At Citi, we are committed to making communities better because we are there."
"The need for mortgage counseling and default counseling for East End residents is more crucial than ever before and yet the needs of many residents are not being met since they have greater distances to travel," said Christopher Nuzzi, Southampton Councilman. Elkowitz further stated, "LIHP recognized these concerns and established the Home Ownership Mortgage Education (HOME) HELP Program as a direct result."
Elkowitz explained that the money will be used for mortgage counseling for first-time home buyers and to help home owners in need of mortgage counseling. The counselors will hold the sessions at specific locations within each town. The first counseling sessions have begun in Southampton. Counseling will start soon in the towns of Riverhead, East Hampton, Southold and Shelter Island. The Village of Sag Harbor has also signed on to the program.
LIHP has begun meeting with the supervisors and town councilpersons of these municipalities in order to set aside counseling locations to meet with their residents. It is hoped that this program reaches out to all those in need, assisting them in purchasing a home or keeping them in the home they currently own.
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Citi
Citi, the leading global financial services company, 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 investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.
Citi Foundation
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. In the U.S. and Canada, the Citi Foundation supports Community Development programs that help build and revitalize neighborhoods and Education programs that prepare students for college and careers. Additional information can be found at http://www.citigroupfoundation.org/.
LIHP
The Mission of the Long Island Housing Partnership is to provide increased housing opportunities, throughout Long Island, for those unable to afford decent and safe housing. We accomplish this mission through programs, leadership and public advocacy. For more information about the Long Island Housing Partnership, please visit its web site at www.lihp.org or call 631-435-4710.
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