For Immediate Release Citigroup Inc. Singapore – 30 April 2005

Citibank-YMCA Youth For Causes Endorsed As A National Event Of The President’s Challenge 2005

The Citibank-YMCA Youth For Causes programme has received the endorsement of the President of the Republic of Singapore to be incorporated under the auspices of the President’s Challenge 2005. It is one of 19 nation-wide community programmes in Singapore to receive this prestigious national recognition. The President’s Challenge is an annual series of community-based activities initiated by His Excellency Mr. S R Nathan, President of the Republic of Singapore, to rally the public towards helping those in need of assistance. His call is for Singaporeans to create a society where showing kindness, and having a generous spirit of giving and caring for the less fortunate in our midst is part of our social ethos, and in doing so, building a more cohesive society. Citibank-YMCA Youth For Causes is essentially a social entrepreneurship programme that provides seed funding to youths to develop creative ideas to promote a social cause of their choice, and raise funds for charitable organisations. This year’s programme will take off with S$160,000 in seed funding from the Citigroup Foundation, to be ‘invested’ in up to 100 creative community projects, supporting a greater diversity of social causes. This includes charitable and social services for the underprivileged, arts and cultural heritage, sports development, environmental preservation and public health. Mr. Jonathan Larsen, Citibank's Country Business Manager, Global Consumer Banking and Chief Executive Officer, Citibank Singapore Limited said, "Citibank has had a long and illustrious history in Singapore of more than 100 years. With our local incorporation in January this year, we are now part of the Singapore scene more than ever before. With this comes a special responsibility as a corporate citizen to support and contribute to the community in which our customers and employees work and live. The Citibank-YMCA Youth for Causes programme provides us with a great opportunity to give to the community by supporting budding entrepreneurs in Singapore." “As a prototype of the social enterprise, YMCA of Singapore’s objective is to help the social welfare sector build up its resources, so that it can continue making a difference to the community over the long-term. The Citibank-YMCA Youth For Causes programme infuses the spirit of entrepreneurship into community work. It is part of service learning, and participating youths and non-profit organisations are given the opportunity to experience what it takes to self-initiate and sustain a business for a social cause. It is an ideal catalyst to jump-start social enterprises and inspire youths to make volunteerism a part of their lives,” said Mr David Lua, President of the YMCA of Singapore.

President S R Nathan graced the launch of Citibank-YMCA Youth For Causes 2005 today as guest-of-honour. The launch was also marked by a “Social Enterprise Youth Forum” with more than 200 community leaders, volunteers, and educators attending. The Forum was chaired by Ms. Eunice Olsen, Nominated Member of Parliament, with a panel comprising renowned local entrepreneurs and community leaders including Ms. Elim Chew, Managing Director of 77th Street, Mrs. Ng Poh Suan, Director of Beyond Imagination, Mr. Adrin Loi, Executive Chairman of Ya Kun International, and Mr. Wilson Cheah, Director of Hotel Properties Ltd and Pinedale Pte Ltd. Piloted in 2002 to commemorate the centennial celebrations of both Citibank and YMCA in Singapore, the Citibank-YMCA Youth For Causes programme has proven to be a runaway success. Participants from the pilot programme accomplished a four-fold return on the S$40,000 in seed funds given to them, raising more than S$170,000 and mobilising over 1,400 volunteers for various non-profit organisations over a short duration of 8 weeks. The 2004 programme saw similar success, with the participants raising S$220,000 from seed funding of S$80,000, and mobilising 5,000 volunteers. The success of the Citibank-YMCA Youth For Causes programme is reinforced by enthusiastic volunteer mentors from Citibank and YMCA of Singapore, who provide the participating groups with project management supervision and guidance throughout the duration of their projects. These mentors not only give the groups invaluable creative inputs, but also help them to overcome challenges, and gain essential life skills budgeting, managing a project and teamwork. Since the programme’s pilot launch in 2002, more than 150 working professionals from Citibank and the social sector had been involved in youth mentorship. For more information on the programme, log on to the Citibank-YMCA Youth For Causes website at www.youthforcauses.com or pick up a brochure available at YMCA of Singapore branches and various non-profit organisations. About Citigroup: Citigroup (NYSE: C), the pre-eminent 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, securities brokerage, and asset management. Major brand names under Citigroup’s trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at www.citigroup.com. Citigroup in the Asia Pacific Community In Asia Pacific, the main thrusts of Citigroup’s philanthropic efforts have been education, financial literacy and sustainable community development. Citigroup has pioneered and funded a number of partnerships with not-for-profit organisations including micro-finance institutions in the Philippines, Indonesia, China, Vietnam, Malaysia and Korea, which provide credit to the poor. Citigroup employees volunteer their time to train the staff of micro-finance institutions as well as to teach practical banking courses at universities in Taipei, Shanghai, Tokyo, Seoul and Singapore.

About YMCA Singapore As a Christian organisation, affiliated worldwide, the YMCA of Singapore seeks to serve and enrich all members of the community, regardless of race, language or religion, through wholesome programmes to develop Body, Mind and Spirit. YMCA provides multifarious facilities within its premises, all aimed at achieving the objectives of the Y movement, namely guiding the youths of our community so that they will ultimately become worthy citizens of their nations.

### Media Contacts: Citibank Singapore Ltd Magdalene Tan Public Affairs & Communications Global Consumer Banking Tel: 6328 6040 Fax: 6328 3107 Email: magdalene.tan@citigroup.com

YMCA of Singapore Albert Ching Assistant General Secretary Community Development YMCA of Singapore Tel: 6430 2270 Fax: 6336 8003 Email: albertching@ymca.org.sg