For Immediate Release
Citigroup Inc. (NYSE: C)

Citibank Japan to Launch e-Savings, Online Yen Savings Account


Interest Rate of 0.5% (0.4% after Tax)

October 23, 2007

Tokyo – Citibank Japan Ltd. ("Citibank") launched e-Savings, a Yen Savings Account designed to make transactions mainly on the Internet on October 22, 2007. The new service targets the acquisition of new customers by offering a service that combines the immediacy and convenience of online banking with Citibank's global presence, in addition to such benefits as an interest rate of 0.5% and no account maintenance fee.

New customers can access the Citibank website at and open an e-Savings account. By opening the account, customers can have access to Citibank Online (Citibank's conventional online-banking service) and they can start enjoying the benefits of e-Savings. Existing customers can also gain access to e-Savings through a simple procedure on the Citibank Online application customer service page.

Citibank is positioning e-Savings as an account for mainly transacting online. By introducing e-Savings, Citibank aims to provide more value to its customers as described below:

1. Deposit interest rate of 0.5%1

e-Savings meets customers' demands for greater profitability, placing the interest rate at 0.5% with the reduced cost of online transactions. This interest rate of 0.5% is available on balances up to ¥10 million. The portion of the balance above ¥10 million will earn the same interest rate as the ordinary Yen Savings.

2. Speedy account opening time

Citibank aims to improve the convenience for customers by providing faster access to the service. The account can be opened after a new customer enters the required information on the sign-up page, faxes proof of identification and Citibank verifies them. The account details are communicated electronically thereafter, allowing the customer to enjoy full benefits, including funding the account and earning the e-Savings rate, at the earliest on the following business day after completing the new-account application process. Also, a cash card will be mailed out to the customer's address, at the earliest, within three business days via certified post (Honnin Uketori Gentei Yubin).

3. Security and protection

Citibank has launched a one-time password service and aims to increase the level of security of funds transfer transactions while using Citibank Online. Each online funds transfer is protected by a one-time password that is sent to the registered email address of a customer. Registration for one-time password for new customers is done at the time of account opening itself.

4. Zero account maintenance fees

Because e-Savings reduces costs through online transactions, there is no account maintenance fee2. The aim of eliminating the account maintenance fee is to remove customer worries about being charged when the account balance is depleted during a period of high usage. This should encourage customers to use the e-Savings account more often for their banking needs.

5. Use of Citibank's global network

e-Savings customers are not only provided online services but also greater convenience. An attractively designed translucent plastic cash card will be provided to each customer and can be used for withdrawals from local banks and post offices in Japan as well as withdrawals in local currency from partner ATMs overseas.

To commemorate the launch of e-Savings, Citibank will be a special sponsor to the First Powered-by-Citibank Creative Awards: "Let's Get It Done" (organized by the Creative Awards Steering Committee). This is an art contest that sponsors creators using the Internet in their creative activities. Citibank decided to become a special sponsor of the awards in order to support the dreams of creators through the Internet, as it strives to enhance its Internet services. Applications for the program will be accepted starting in the middle of November.

Citibank commenced operations in July 2007 as a new locally incorporated bank subsidiary in Japan. Citi has identified Japan as a key market in its international expansion, and Citibank will continue to enhance its services while expanding its customer base by reaching new customers as a bank that is committed to Japanese market.

1 Interest rates are revised as appropriate, and may change in accordance with market trends.

2 When existing customers open an e-Savings account, they will continue to pay the account maintenance fee as before. The monthly account maintenance fee is ¥2,100 (tax included). However, the fee is waived if the customer's average monthly foreign currency balance is equivalent to at least 200,000 yen, or if the total average monthly balance for all of the customer's foreign currency and Japanese Yen accounts (including e-Savings) together is equivalent to at least 500,000 yen.

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, Citi Smith Barney and Banamex. Additional information may be found at or