MasterCard International Elects Robert B. Willumstad, As Vice Chairman Of Its Board of Directors; Citigroup President to Assume Leadership Role

Business Wire, March 20, 2003

Business Editors

MADRID, Spain--(BUSINESS WIRE)--March 20, 2003

MasterCard International announced today that Robert B. Willumstad will become vice chairman of its Board of Directors.

Willumstad, who is president of Citigroup and chairman and chief executive officer of Citigroup's Global Consumer Group, was elected at a meeting of the board held today in Madrid.

Willumstad has been a member of the board since 1999. He succeeds Baldomero Falcones Jaquotot, chairman of Santander Central Hispano, who was elected chairman of the MasterCard Board at today's meeting.

Robert W. Selander, president and chief executive officer of MasterCard, said "We are delighted that an industry leader like Bob Willumstad is taking on this key role on the MasterCard Board. He has made a great contribution in his years of service in helping transform MasterCard into the unified global company it is today. In lending his stature and expertise to the board in his new role as vice chairman, we know he will be a great asset as we continue to build on MasterCard's success as a truly customer-focused company."

"I am very pleased to be named vice chairman of MasterCard, one of the most recognized and respected companies and brands in the world," said Willumstad. "MasterCard is a global leader in quality and innovation. I am confident that this management team is poised to continue to build on its success."

Willumstad was named president of Citigroup in January 2002 and chairman and CEO of the Global Consumer Group in December 2000. He leads all of Citigroup's global consumer businesses including Credit Cards, Consumer Finance, and Retail Banking. Willumstad also has oversight of Citigroup's operations in Mexico and Puerto Rico. Prior to the formation of Citigroup, he was chairman and CEO, Travelers Group Consumer Finance Services. Willumstad joined Commercial Credit, now named CitiFinancial, in 1987. Prior to joining Citigroup's predecessor companies, Willumstad served in various positions with Chemical Bank for twenty years, including the post of President of Chemical Technologies Corporation. Willumstad also serves on the board of Habitat for Humanity International.

About MasterCard International

MasterCard International has a comprehensive portfolio of well-known, widely accepted payment brands including MasterCard, Cirrus and Maestro. With approximately 25,000 MasterCard, Cirrus and Maestro members worldwide, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is a leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 96 countries and in 45 languages, giving the MasterCard brand a truly global reach and scope. With more than 30 million acceptance locations, including over 820,000 MasterCard/Maestro/Cirrus ATMs around the world, no payment card is more widely accepted globally than MasterCard. For the year ended December 31, 2002, gross dollar volume exceeded US$1.14 trillion. MasterCard can be reached through its website at www.mastercardinternational.com.