Russia: ZAO Citibank Launches New Ryazan Operations Center

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.

Citi Russia
Citi was among the first international banks to enter the Russian market when it established a local bank, Citibank ZAO, in Moscow in 1994. Citi has since grown its 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.


	Printer Friendly Page		FOR IMMEDIATE RELEASE Citigroup Inc. (NYSE: C) March 26, 2008 Russia: ZAO Citibank Launches New Ryazan Operations Center Citibank to Create Over 1,000 Positions in Ryazan Ryazan – On March 26, 2008 the inauguration of the new Operations Center of ZAO Citibank was held in Ryazan. The new division is located at 4-B, Yablochkova Street. The total area adds up to 6,100 square meters that will host fast-growing departments such as CitiPhone, credit operations and account fulfillment operations. The inauguration ceremony was honored with the presence of Prokofiev Alexander, Deputy Head of the Central Bank in Ryazan region and Ian Cramb, Chief Operating Officer, Citi, Global Consumer Group, EMEA who arrived with an official visit from London. Joel Kornreich, Head of ZAO Citibank, Consumer Business, said: "The launch of the new operations division is driven by the strong growth of Citi's business in Russia, and its focus on continually improving of customer service. The Ryazan project is of crucial importance to Citibank and in line with its commitment to its franchise in Russia." "As of today we have over 100 employees working in Ryazan and plan to increase this number to 400 employees by 2008 year-end. We expect this facility to host over 1,000 employees by 2010. It will be the main Citibank Operations center in Russia," said Joel Kornreich. Most of Citibank newcomers are young graduates from Ryazan colleges without prior banking experience and are being offered special training programs which include courses on general banking, consumer products and business processes. Bhaskar Katta, Chief Operating Officer of ZAO Citibank said: "Citibank's Ryazan project is one of the first ‘Near Shoring' initiatives in the Russian banking industry. Identifying the right venue for the Ryazan Operations Center required an extremely thorough selection process among many cities within Russia. I am proud to state that as of today the Ryazan Operations Center is on par with the best Citibank offices anywhere within the Citi world in terms of technical and infrastructure solutions deployed. It is expected to be a Citi center of excellence within Russia and for CIS countries in future." # # # 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. Citi Russia Citi was among the first international banks to enter the Russian market when it established a local bank, Citibank ZAO, in Moscow in 1994. Citi has since grown its 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.