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FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
June 10, 2008
UAE: Citi Foundation Renews its Support for Abu Dhabi University
Provides AED 180,000 Towards Sanabil Scholarship Program
Abu Dhabi Abu Dhabi University (ADU) announced today that it has received a new AED 180,000 (USD 50,000) grant from the Citi Foundation towards ADU's Sanabil financial aid program. The grant will be used to provide scholarships to 14 students pursuing Bachelor Degrees in Management, Marketing and Finance at ADU's College of Business Administration.
Provided for the fourth year in a row, the Citi donation will help cover up to 100% of tuition and fees to a selected number of students, following a full assessment of their financial situation.
Sanabil is a charitable program co-founded by ADU, a group of businessmen and local philanthropists who aim to enhance the country's educational standards and develop the University's social and human capacity.
Mohammed Al-Shroogi, Managing Director for the Middle East and Chief Executive Officer for Citi in the UAE said: "Our support for the Sanabil scholarship program at ADU underscores Citi's commitment to supporting financial education in the UAE in order to help achieve the national goal of educating local professionals, mainly in business disciplines. We are proud to be associated with ADU and look forward to partnering with the university in other strategic initiatives."
"We are proud to be associated with such a prestigious international organization; we applaud Citi's willingness to help the UAE community through financing the education of students whose only restriction to obtaining qualifications is financial," said Dr. Nabil A.Ibrahim, ADU Chancellor. "This donation will enhance the offerings that the Sanabil program presents to our nation's students and will give them the opportunity to obtain a quality education with international standards," he added.
Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
Recently, Citi and the Citi Foundation announced a ten-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.
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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
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. Additional information can be found at http://www.citigroupfoundation.com/.
Citi Financial Education Program
Based on the belief that knowledge is your greatest asset, the Citi Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citi's 10-year, US$200 million global commitment is focused in three areas: Personal, Small Business and Institutional Financial Education. Additional information about the Citi Financial Education Program, including Citi Foundation guidelines, links and resources and the Citi Financial Education Program Curriculum and Facilitator's Guide may be found at: http://financialeducation.citigroup.com
Abu Dhabi University
Abu Dhabi University was chartered as a private institution of higher learning in the year 2000 under the patronage of H.H. Sheikh Hamdan Bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of State for Foreign Affairs, and President of the University of Abu Dhabi Board of Trustees and Governors. The University is licensed by the Ministry of Education and Scientific Research with all its degree programs accredited. The University of Abu Dhabi currently serves about 1,800 students at its three campus locations in the Emirate of Abu Dhabi. It is currently building new campus in Khalifa City to be completed in the Summer of 2006. All programs are open to eligible students from all nationalities. The University uses the American model of higher education for its Colleges of Arts and Sciences, Business Administration, Computer Science and Information Technology and English Language Institute.
Sanbil
Sanabil offers two options: "Hasad" – A full scholarship program which includes all tuition, fees, books, registration and other expenses and "Qutuf" – A financial aid program that offers up to 50% of tuition and fees, after assessing the student's financial situation.
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