For Immediate Release
Citigroup Inc. (NYSE: C)

Delhi Metro & Citibank Launch Co-Branded Transit Credit Card

May 07, 2008

New Delhi – Citibank India and the Delhi Metro Rail Corporation (DMRC) today announced the launch of India's first co-branded, "Two-in-One" transit credit card, the Delhi Metro Citibank Credit Card. The first of its kind in India, the card combines the benefits of a Metro Smart Card with the advantages of a Citibank Credit Card, and will be available to customers from today.

This new product is a pioneering initiative introduced by DMRC and Citibank India, to offer enhanced value and convenience to Delhi's residents. In addition to the exciting features of a Citibank credit card and the existing Metro Smart card, the Delhi Metro Citibank Credit Card is also unique in several other ways. The reward points accumulated on this card can be redeemed for free Metro rides, at the Citibank point-of-sale terminals, presently installed at Rajeev Chowk, Kashmere Gate, Barakhamba, Pitampura, Rajouri Garden and Dwarka Mor Metro Stations and soon to spread across other stations as well. Additionally, it offers double reward points for Metro spending and will not require the mandatory security deposit of Rs 50.

It is India's first credit card that doubles as a contact-less access card for the Delhi Metro stations, allowing customers "tap and go" entry into DMRC stations. In addition to convenience, the Delhi Metro Citibank Credit card will offer several benefits, including exclusive shopping deals and discounts in Delhi and the NCR, fuel surcharge waivers at Indian Oil outlets and other privileges associated with a Citibank Credit Card. The special "Delhi Delights" feature of this card offers unique deals from some of the biggest brands in Delhi, including Dominos, Fun Cinemas, Nirula's, Bercos, India Today and VLCC.

Launching the Delhi Metro Citibank Credit Card, Mr. Surath Chatterjee, Regional Head of Card Products, Citi Asia Pacific said; "As a global leader in the credit cards business, Citi has come to be known for its innovative card and banking products, internationally and across the Asia Pacific region. Citi has successfully launched similar products in New York and Singapore, both of which have been extremely well received. We expect to launch similar products in more countries in the next few months. This is a great product for our customers and it really helps them in their daily lives. We have worked closely with the DMRC to develop a customized offering for the Indian market and are sure that this product will be a success in India. With the launch of this unique transit credit card, Citi continues its tradition of pioneering innovations in Asia".

Commenting on the partnership with Citi, DMRC Director, Operations, Mr. Raj Kumar added: "DMRC is always looking to improve the transit customer's experience and we are delighted to partner with Citibank, to launch this unique offering. We believe this product is the next step in providing our travelers unmatched convenience and reduced waiting times by combining an efficient payment mechanism with the Metro experience."

Also speaking on the occasion, Mr. P. S. Jayakumar, Country Business Manager, Global Consumer Group, Citi India, said: "By pioneering co-branding in India, Citibank has brought unmatched value to customers by partnering with the best organizations in their industries. We are delighted to partner with DMRC, which has made Metro the preferred mode of traveling in Delhi. With its innovative practices and strong customer focus, DMRC continues to drive change in the field of mass rapid transportation. As the Metro extends its operations further into Delhi and NCR, and with the forthcoming Commonwealth Games in 2010, the Delhi Metro Citibank Credit Card will fulfill the need of a world-class product for hassle free travel and shopping. Citibank is happy to leverage its global expertise in the transit segment, to bring world-class products to the customers of Delhi."

Special Privileges on the Delhi Metro Citibank Credit Card:

  • 10% discount on travel fare paid with the "Two-in-One" card
  • Two Reward Points for every Rs.100 spent on the Metro, one Reward Point for every Rs 100 spent elsewhere
  • Facility for converting all Reward Points into Metro Points for Free Metro Rides (at the POS terminal itself)
  • An International Credit Card: accepted at over 14 million merchant outlets, in association with Visa international, across the world
  • 2.5% surcharge waiver on IOC petrol pumps
  • Access to 24 hour CitiPhone Banking services
  • Five free lifetime add-on cards
  • Delhi Delights – offers from the best brands of Delhi

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.

Delhi Metro Rail Corporation
The Delhi Metro began operations in Delhi in 2002. The first phase of the Metro Rail covers over 65 kms in Delhi. The Phase II of the project, which extends to South Delhi, Ghaziabad, Noida and Gurgaon will be completed by 2010 and will cover about 125 kms. DMRC is also one of the only three Metros in the world which started making operational profits from day one. The Metro is also an eco-friendly, zero-emission mode of transportation. Currently there are 0.65 million commuters traveling daily on the Metro Rail. The ridership is expected to reach a two million by 2010 as the network expands to cover South Delhi and NCR (National Capital Region).