Citigroup Announces New Series of Enhancements to CitiDirect® Online Banking

Award-Winning, Web-Based Corporate Banking Platform Expands Language Capability, Functionality and Usability

November 8, 2004, New York — Citigroup Global Transaction Services, a unit of Citigroup, (NYSE:C), and a leader in transaction processing, announced a series of enhancements to CitiDirect® Online Banking, its flagship Web-based corporate banking and information delivery platform. With the latest upgrade, CitiDirect is now available in Italian, bringing to 22 the number of languages in which users can view details, execute transactions, produce reports and perform inquiries related to corporate banking in 90 countries.

Corporate clients and financial institutions use CitiDirect® Online Banking to initiate payments, receive information and better manage their working capital by centralizing their corporate banking functions and allowing their users from around the world access to accounts and critical information in a familiar, Web-based environment. With access to a wide range of services, including foreign currency and domestic payment capabilities, full trade services, investments, collections and more – CitiDirect Online Banking is a truly comprehensive cash management solution.

“We continually improve CitiDirect to meet the needs of the hundreds of thousands of users around the world who rely on it to meet their daily cash management needs,” said Paul Galant, Global Head of Cash Management for Citigroup Global Transaction Services. “Only by taking our cues from and working closely with clients, can we deliver the most advanced, user-friendly platform and technologies possible to meet the most demanding client needs.”

Sample enhancements include:

  • Same-Day Reconcilement for users in Canada and the U.S. enables clients to perform all of their daily same-day functions in a streamlined and efficient manner allowing for reduced internal processing costs and higher productivity.
  • Greater Efficiency in Handling Wire Returns with WorldLink, our Foreign Exchange Payment Service. Funds associated with returned wire payments can now be reused or converted at the prevailing foreign exchange rate through WorldLink.
  • Regulatory Changes. A number of changes were made to meet new local and regional regulatory requirements across Europe and other countries in Eastern Europe and Latin America.
  • Enhancements to Reporting Capabilities include new Canadian lockbox reports such as account summary, account and box summary, and detail reports. Security managers can now view both user profile and entitlement in a single report. WorldLink Funding Detail Report provides information on processed transactions to assist with funding calculations. And CitiDirect’s comprehensive reporting enables clients to effectively manage notional pools and easily reconcile interest and adjustments to interest earned on pool balances.
  • Enhanced Integration Capabilities including SAP availability for WorldLink, incremental connectivity options and upgraded export formats.
Clients highly rate CitiDirect for its ease of use and navigation; consistency of design, format and functionality; overall service availability and cross-product integration; fast and easy online installation; online (and offline) help and support; and feature-rich administration and reporting tools.

In 2004, Global Finance named Citigroup the Best Internet Bank for Corporations and Institutions in the US and in 15 other countries. CitiDirect® Online Banking was also named the Best Corporate/Institutional Integrated Website in North America. Other awards won in 2004 for CitiDirect® Online Banking include awards from Euromoney and Euromoney.com, Global Finance, Treasury and Risk Management and Treasury Management International. CitiDirect also took first place for the second year in a row in an independent study by Greenwich AssociatesSM evaluating the Internet-based cash management applications of ten leading banks in the US.

CitiDirect® Online Banking increases efficiency and improves the ability of corporate treasurers to make critical cash management decisions. It also provides access to the complete portfolio of corporate banking services provided by Citibank all over the world. To view an online demo and take a guided tour of CitiDirect® Online Banking’s capabilities, please visit www.citidirect.com

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About Citigroup
Citigroup (NYSE: C), the pre-eminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.

About Citigroup Global Transaction Services
Citigroup® Global Transaction Services is a leading provider of integrated cash management, trade finance, funds and securities services for corporations, financial institutions, intermediaries and governments around the world. With over $ 121 billion in average liability balances, more than $ 7.3 trillion in assets under custody and the largest proprietary branch network, Citigroup’s award-winning operating systems and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing cycles, and re-engineer receivables and payment processes. Citigroup® Global Transaction Services provides clients with access to Citigroup’s full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 90 local markets. For additional information, see www.transactionservices.citigroup.com.

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