Citi Expands Managed Accounts Connectivity with CitiConnect

New York – Citi today announced the expansion of its proprietary managed accounts connectivity hub, CitiConnect for Separately Managed Accounts (SMAs). With this expanded connectivity, CitiConnect for SMAs, developed by Citi's Securities and Fund Services business, becomes the most comprehensive hub for straight-through-processing of reconciliation, trading and allocations in the managed accounts industry.

Designed to be used by investment managers, CitiConnect will enable best execution of SMA products by allowing users to send trades on all their SMA accounts from one unified order management system. Through fully electronic and automated connections, this capability addresses connectivity needs to more than 90 percent of the managed accounts industry across multiple styles, sponsors and programs.

"CitiConnect for SMAs provides our clients with unified trade processing from a single platform. Its features and functions lead the SMA industry by supporting the ability to trade away and step-out on an electronic basis, thereby providing an unsurpassed level of automation," said Jonathan Flitt, Head of SMA Connectivity at Citi's Investment Administration Services.

Industry Leading Connectivity

CitiConnect for SMAs has more than 400 different live connections to sponsor, custodian and industry utilities that support managed accounts including:

• The top six sponsor firms
• Industry-leading correspondent clearing firms, Turnkey Asset Management platforms, banks, regional brokers, and independent brokers of managed accounts

Best Execution Features

With this new connectivity, investment managers can achieve best-in-class execution for their SMA business through CitiConnect's technology, including:

• Time stamps on all trades and executions
• Unified trading and blocking of orders from all sponsors and styles
• Electronic trade routing to sponsors and step-out/trade away to brokers
• Electronic communication of allocations and settlement for step-out trades
• Robust trade rotation
• Ability to merge SMA and institutional trading flows for unified execution across business segments
• Access to automated trading tools, such as direct market access, algorithmic trading, crossing engines, and automated market-making tools
• Data availability for industry standard best execution measurement tools

CitiConnect for Securities was first launched in 2002. In addition to the new SMA features of CitiConnect announced today, Citi's Securities and Fund Services business continues its track record of innovation in the managed accounts industry. Examples include the partnership with The Depository Trust and Clearing Corporation to launch the Managed Account Service account opening and the launch of the account maintenance hub to offer true automated straight-through-processing for investment managers and sponsors.

For more information, please visit www.transactionservices.citi.com.

Global Transaction Services
Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network spanning over 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 2nd quarter of 2008, it held on average $276 billion in liability balances and $12.8 trillion in assets under custody.

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.