Citibank-Shell Co-Brand MasterCard Bring Motorists Rebates on Fuel & More

August 25, 2006 - Stockholm - From August 28 all Swedish motorists can now make their household money go further. By using the new Shell MasterCard from Citibank, consumers collect rebates for future fuel purchases each time they use the card.

Shell and Citibank, a member of Citigroup, are giving all consumers who successfully apply for the new card before November 5 a special rebate. Consumers who use this promotional offer will get 70 öre per liter of fuel they buy back on the pump price1 at Shell and 2% off of all other purchases for 60 days after their card account is opened. The cardholder can get SEK 112 back in two months if they fill up a 40 liter tank twice a month – plus all rebates acquired when using the card for non-fuel purchases.

After the special promotion period has ended, the cardholder will get 35 öre per liter fuel back on the pump price and one percent on all other purchases. All rebates will be credited towards Shell fuel purchases the following month. The rebates are valid for all Shell fuels and are unlimited.

A web survey of over 1,000 licensed drivers, conducted by CINT the first week in August for Shell and Citibank, confirms that cards are the most popular way to for Swedish consumers to purchase fuel (86% pay with a card) and that credit cards are valued for both convenience and security by 58% of consumers. More than half of the respondents use a credit card as a tool to plan and monitor their household budgets and three out of four would use a credit card often or always if it could provide cheaper fuel. The survey indicates that 55% of motorists pay for their fuel with gasoline cards and 42% of this group does so to get lower fuel costs. Price is important for Swedish consumers – about 14% of the household budget is spent on fuel, the third largest monthly expenditure for Swedish households after living costs and food. At the same time, the majority, 56%, believe that fuel prices will go up to 15 kronor per liter within three years.

“People want the freedom to travel by car and we understand that fuel makes up a good part of monthly spending, so we have designed the Shell MasterCard from Citi to help our customers get more out of their household budgets. Our relationship with Citibank is vital. It means we can work with an established global leader in personal financial services whose credit card expertise, customer service and reliability are proven in over 50 countries worldwide,” said Tony Johansson, Manager of Shell service stations in Sweden.

“The Shell MasterCard from Citi is perfect for everyday use because it delivers rebates on all fuel and other purchases. As the world’s largest credit card issuer we bring unmatched scale, efficiency and product expertise to our partnership with Shell so that together we can offer Sweden’s consumers a world class credit card with real purchasing power,” says Tim Lewis, Nordic Cards Head, Citibank.

With the launch of new Shell MasterCard from Citi, Citibank becomes Shell’s exclusive credit card partner in all relations with consumers in Sweden. Consumers can apply online at www.citibank.se or www.shell.se, or in person at Shell service stations.

1 The pump price is the price offered at a certain service station. 70 öre is a rebate generated from a pump price of SEK 11,70 per liter.


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Citigroup
Citigroup, 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, insurance and securities brokerage. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com.

Shell
Shell operates the world’s largest single-brand retail network with over 40,000 service stations in over 90 countries, serving 20 million customers on a daily basis. The range of innovative products on offer is constantly expanding, supported by extensive research and development activities. Differentiated fuels including Shell V-Power, V-Power Racing, V-Power Diesel and Optimax are designed to meet growing customer requirements for improved engine performance. Pioneering development of Gas to Liquids (GTL) technology will also play a key role in the transition to renewable fuels. Maingrade fuels meet the customers need for competitively priced fuels. Our Convenience Retailing business offers a wide range of products and services to customers worldwide. For further information visit http://www.shell.com.

Contact Information

Global Consumer Group

Citigroup Inc.

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