Russia: ZAO Citibank and Stockmann Launch Co-Branded Card

Citi
Citi, the leading global financial services company, has approx. 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 credits, 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.

ZAO Citibank
ZAO Citibank was among the first international banks to enter the Russian market when it established a local bank in Moscow in 1994. Citi has since grown it´s business to be among the country's largest banks offering a full range of products and services to corporate and consumer customers. At present, the Bank has over 3,500 employees, a $5+ billion balance sheet and a distribution network including over 60 branches servicing individuals and 300 ATM's in six cities of Russia. In 2002, Citibank ZAO launched consumer banking operations by opening our first retail branch in Moscow. Citi now serves over 400,000 retail banking and credit card customers across Russia. For more information about Citi in Russia please visit www.citibank.ru.

Stockmann
Stockmann is a Finnish listed company, which was established in 1862 and is engaged in the retail trade. Customer satisfaction is the central objective of Stockmann's trading in all its areas of business. The rapidly expanding Stockmann Group operates in eight countries in six time zones. The first Stockmann store in Russia was opened in 1989. Today, Stockmann has four department stores in Moscow, as well as 28 Seppala fashion stores, a specialty store and the Hobby Hall mail order business in Russia. It also runs franchising-based Bestseller fashion stores and Nike sporting goods stores here. A large Stockmann-owned shopping center called Nevsky Center including a Stockmann department store is under construction in St Petersburg. According to plans, Stockmann will open its fifth department store in Moscow in 2008 and the sixth one in 2009, as well as a department store in Ekaterinburg in 2009. All Stockmann-owned chains will continue their expansion in Russia, and according to plans, the present year will also see the opening of first Stockmann's Lindex fashion stores in Russia.


	Printer Friendly Page		FOR IMMEDIATE RELEASE Citigroup Inc. (NYSE: C) March 19, 2008 Russia: ZAO Citibank and Stockmann Launch Co-Branded Card Moscow – ZAO Citibank and Stockmann today announced the launch of the first co-branded credit card for Stockmann and the fourth co-branding project for Citibank in Russia. The project, which started one year ago, included abundant research of the market and potential customers, which led to the development of the new co-branded credit card that will take the Stockmann loyalty program up to a new level. It will serve Stockmann customers as a secure and convenient payment tool, helping them to earn bonus points anywhere they spend, and enable them to save on purchases that they make in Stockmann. According to Citibank's data, "department stores spend" is the third largest expense category of credit cardholders after clothing and apparel stores and travel related expenses. For the married consumer, this may even be the top-spending category, depending on the segment. Therefore benefits in department stores are a real and relevant value provided to consumers. Stockmann, being one of the leading department stores chain in Russia with 4.8 million customers a year and almost half million loyal customers, creates a huge market for this product. According to Citibank's data Stockmann customers represent one of the most active groups of Russian middle class aged 25-45 and with average monthly income of more then 50,000 Rubles. The majority of this segment drives a car and travels abroad and spends a significant portion of their income at merchants accepting cards, making it easy for them to collect bonuses while paying securely and conveniently with credit cards. The new Stockmann-Citibank credit card offers a maximum credit line of 160,000 Rubles for silver cards and 600,000 Rubles for Gold cards, 50 grace days, and one bonus point (equals 1 Ruble and can be redeemed at all Stockmann stores in Russia) for every 100 Rubles spent in Russia and abroad. Currently the card is available to individuals older than 22 years, living and working in Moscow and Moscow region. For more information please visit www.citibank.ru. For this new product, Citibank and Stockmann jointly developed an easy and accessible application process. Stockmann purchase receipts will be accepted as a supporting document for the applicants who are not able to provide other proof of identification such as their driver's license, passport or NDFL 2 form. This method will also apply with certain conditions for spouses without permanent employment but shopping regularly at Stockmann. In addition to regular channels of application like the phone, Internet, or Citibank branches – customers will be able to apply for a card at any Stockmann store in Russia. Selim Ergoz, vice-president, Head of Citibank credit cards business in Russia, commented: "We are always trying to anticipate our customers' needs to make their experience with Citi uniquely pleasant. Research on our customers' spending behavior demonstrated that our customers love to shop at Stockmann – it is one of the top department stores in Russia. And we realized how they would appreciate additional bonuses and discounts at Stockmann. Today we are very happy to offer them this credit card." Tove Westermarck, sales director of Stockmann department stores in Moscow, noted: "The Russian market is the fastest growing business of Stockmann internationally. We see a huge development in customers' behavior going on here: an increasing number of customers are paying cashless in Stockmann every year and their demands of the service level are growing. Therefore this partnership with Citibank, the leading Russian and global credit card issuer, is not only a very important experience for us, but also a chance to become even closer to our customers' needs and expectations." # # # Citi Citi, the leading global financial services company, has approx. 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 credits, 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. ZAO Citibank ZAO Citibank was among the first international banks to enter the Russian market when it established a local bank in Moscow in 1994. Citi has since grown it´s business to be among the country's largest banks offering a full range of products and services to corporate and consumer customers. At present, the Bank has over 3,500 employees, a $5+ billion balance sheet and a distribution network including over 60 branches servicing individuals and 300 ATM's in six cities of Russia. In 2002, Citibank ZAO launched consumer banking operations by opening our first retail branch in Moscow. Citi now serves over 400,000 retail banking and credit card customers across Russia. For more information about Citi in Russia please visit www.citibank.ru. Stockmann Stockmann is a Finnish listed company, which was established in 1862 and is engaged in the retail trade. Customer satisfaction is the central objective of Stockmann's trading in all its areas of business. The rapidly expanding Stockmann Group operates in eight countries in six time zones. The first Stockmann store in Russia was opened in 1989. Today, Stockmann has four department stores in Moscow, as well as 28 Seppala fashion stores, a specialty store and the Hobby Hall mail order business in Russia. It also runs franchising-based Bestseller fashion stores and Nike sporting goods stores here. A large Stockmann-owned shopping center called Nevsky Center including a Stockmann department store is under construction in St Petersburg. According to plans, Stockmann will open its fifth department store in Moscow in 2008 and the sixth one in 2009, as well as a department store in Ekaterinburg in 2009. All Stockmann-owned chains will continue their expansion in Russia, and according to plans, the present year will also see the opening of first Stockmann's Lindex fashion stores in Russia.