For Immediate Release
Citigroup Inc. (NYSE: C)

Citi Named Best Consumer Bank 2007 in Russia by Retail Finance


Citi Recognized for Leadership in Field of Banking Innovations

October 22, 2007

Moscow – Citi was announced winner of the "Best Consumer Bank in Russia" category at the Retail Finance Awards 2007 ceremony, held within the framework of the conference "Consumer Finance Business in Russia: Project 2010" at Swissotel Red Hills on October 19, 2007. The awards ceremony was attended by representatives of Russia's major banks, insurance companies, audit firms, and leading mass media.

Among the main criteria in determining the winner were innovative banking products and services. Citi was the first in Russia to offer such products as grace period and a cash back credit card, which pays 1% back on all spending. It was also noted that Citi was the leader in co-branded products and customer loyalty programs with its over 800 partner merchants offering discounts in Russia.

Receiving the award, Joel Kornreich, Head of ZAO Citibank Consumer Business, said: "We are very grateful to all our employees for their daily efforts towards developing Citibank's business in Russia. Their professionalism and commitment are the reasons why customers choose to bank with us. We are very grateful to our customers for their trust and appreciation of our products and services, which is supported by the fact that our customer base has almost doubled in the past year."

ZAO Citibank was one of the first foreign-owned banks to start business in Russia in 1993. It tapped the consumer market in 2002. Citi has now opened over 60 branches and installed over 300 ATMs in six Russian cities. According to Joel Kornreich, further regional expansion in Russia is Citi's strategic goal. Citi plans to set up offices in Ufa and Volgograd soon.

Retail Finance
Retail Finance is a specialized magazine focused on the development and evolution of the retail finance business in Russia. This edition is focused on shareholders, directors and managers involved in the development of retail sales systems in the banking marketplace. The magazine calls for the creation of a new level of understanding and business management processes in the area of retail finance. It is investigating the reality of introducing various technologies as well as specific products. It is also looking at a strategy to achieve peak efficiency within the business. During its existence the magazine has gained a cult following and has gained a strong reputation amongst representatives for the retail businesses of the leading Russian banks and financial institutions.

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. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at or