Singapore: Citibank Redefines Service Standards In Unsecured Credit

May 19, 2006

One-Hour Credit Approval For Immediate Cash Withdrawal

Singapore – Citigroup Inc. (NYSE: C)- Citibank today announced a host of new innovative services that will empower consumers who need funds urgently to apply for a credit facility and draw on their credit line immediately.

Applications for Ready Credit can be processed within the hour. Upon approval, customers can immediately withdraw funds over the counter at any of Citibank’s full-service branches. For existing customers who draw on their Ready Credit facility, they will enjoy the convenience of having the funds hand-delivered to their doorstep, for a nominal handling fee, in as little as three hours.

These services are a continuation of the series of “instant“ initiatives introduced by Citibank to provide its customers with greater convenience in accessing the bank’s products and services. Recent services launched include instant issuance on credit cards and the new enhanced service standards on CitiPhone Banking, which aims to answer all calls within 15 seconds on average.

Today, Citibank has more than 50% share of the unsecured credit line market in Singapore. More than half of its Ready Credit customers have been banking with Citibank for over five years. Said Mr. Anand Cavale, Citibank’s Business Director for Credit Payment Products, “As the market leader, service excellence remains a top priority for us. We continue to challenge ourselves to look at new ways to address customer needs. Our customers have indicated a need for a quick, hassle-free application process, and the ‘instant’ services we are introducing today will further benefit our customers.”

”These unique services – one-hour application processing for urgent cash withdrawal and 24/7 cash delivery to the customer’s registered address, reaffirm our commitment to service excellence. I am confident that our new value-added services will be well-received by our customers,” he added.

The new “instant“ approval and cash withdrawal services complement the array of benefits currently enjoyed by Ready Credit customers. These range from global 24-hour access to their account via phone banking and internet banking services, retail privileges at participating establishments, to free car-parking and free automobile recovery services.

Unlike current market practice where an unsecured overdraft application can take up to weeks to be processed, customers requiring funds urgently can now have their Ready Credit application processed within the hour. This Instant Approval service is available seven days a week up to 8.00 p.m. daily.

New customers no longer have to wait to receive their checkbook or ATM card before being able to draw cash. They can get their cash immediately, over the counter, at any of Citibank’s full service branches during banking hours.

Existing customers who need to draw on funds urgently can request to have their money hand-delivered, for a nominal handling fee, to their registered address in Singapore. Customers can withdraw amounts between $2,000 and $15,000 per transaction, subject to their available credit limit. Customers can contact 24-Hour CitiPhone Banking to activate this service, seven days a week.

Existing customers will be rewarded with more privileges under a new loyalty program introduced by Citibank. These privileges are accorded based on the customer’s level of relationship with Citibank, and will include waivers on charges to access to a dedicated hotline.

New Ready Credit accounts approved before June 30, 2006 will enjoy a one-year annual fee waiver. Additionally, customers enjoy a 50% rebate on the first six months of interest, if they make at least one transaction within the first month of the account being opened.

To apply for a Ready Credit facility, customers can register at www.citibank.com.sg.

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Citigroup Public Affairs

Citigroup Inc.

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