``Banking on Our Future'' Program to Focus on Using Credit Wisely — Citigroup and Operation HOPE Teach Financial Education to Educate and Empower Youth at Martin Luther King Boys & Girls Club of America

Business Wire, August 12, 2005

CHICAGO -- Operation HOPE, Inc. (HOPE), Citigroup and the Citigroup Foundation encouraged nearly 150 boys and girls to use their credit wisely and avoid common financial pitfalls in an interactive "Banking on Our Future" seminar at Chicago's Martin Luther King Boys & Girls Club of America on Thursday, August 11. According to a recent study commissioned by HOPE and administered by Dr. Lewis Mandell and the Jump$tart Coalition, "The State of Financial Literacy Amongst Young African-American Adults in America," many university administrators believe that credit card debt leads to a higher drop-out rate than academic failure.

HOPE's Founder, Chairman and CEO, John Bryant, implored members not to fall victim to credit debt and educated attendees on OHI's growing Silver Rights Movement to promote financial literacy and empowerment. "Operation HOPE would like to thank Citigroup and the Citigroup Foundation for helping us make this Banking on Our Future event happen," Bryant said. "We live in a nation where nearly one-third of high school seniors have credit cards, even more have debit cards, and an average of 1.5 million families file for personal bankruptcy each year. The need for personal financial literacy rings loud and clear."

Boys & Girls Clubs of America had its beginnings in 1860 with several women in Hartford, Connecticut. Believing that boys who roamed the streets should have a positive alternative, they organized the first Club and a new cause was born. This Chicago chapter was founded in 1953 and serves 1,300 youth and families in the East Garfield and Lawndale neighborhoods of Chicago. It has served as a major focal point for community recovery and development throughout the decades.

"We are pleased to support Operation HOPE and the expansion of a program that empowers so many young people in underserved communities to become more knowledgeable about personal finance," said Oboi Reed, Vice President and Citibank Community Relations Director, on behalf of the Citigroup Foundation. "At Citigroup, we are dedicated to providing quality financial education programs to help people learn how to build their financial lives. We believe that providing financial education to young people today will help build strong communities tomorrow."

In February, Citigroup and the Citigroup Foundation announced a $500,000 grant to expand the "Banking on Our Future" program with a goal of reaching 10,000 students in seven cities, including Washington, DC; Baltimore; New York City; Chicago; Los Angeles; Oakland, CA; and Atlanta. In addition, Citigroup employees volunteer as HOPE Corps banker-teachers to educate students about the basics of earning income, budgeting, saving and investing. Since its inception, "Banking on Our Future" has served over 155,000 young individuals nationwide.

Recently, Citigroup and the Citigroup Foundation announced a 10-year, $200 million global financial education commitment, the formation of a new Office of Financial Education and a global initiative designed to encourage its 300,000 employees around the world to devote time to support financial education and other charitable causes. Under the new initiative, employees may take a day off from work to volunteer for non-profit organizations in their communities.

"Banking on Our Future" is part of Operation HOPE's Silver Rights Movement to eradicate poverty by empowering the underserved. The Silver Rights Movement is aimed to continue and build upon the work of Dr. Martin Luther King, Jr., and the famed Civil Rights movement by educating minorities, low-income families and youth on financial empowerment." Bryant continued, "Ambassador Andrew Young, the right arm to the late Dr. King and our national spokesman for HOPE and the Silver Rights Movement, recently told me that he, King and others succeeded in integrating the lunch counter, the public building and even the school house, but never the dollar. This is the work that Dr. King would be doing if he were alive today."

In addition to Bryant's stirring remarks, HOPE's "Banking on Our Future" Midwestern Regional Manager, Bill Robinson, made acknowledgements to the attending guests.

About Citigroup

The Citigroup Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citigroup's 10-year $200 million global financial education commitment is focused in three areas: Personal Financial Education, Small Business Financial Education, and Institutional Financial Education. Additional information about Citigroup's Financial Education Program, including Foundation guidelines, links and resources, including the Citigroup Financial Education Program Curriculum and Facilitator's Guide may be found at: www.citigroup.com/citigroup/financialeducation.> Citigroup (NYSE: C), 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, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. The Citigroup Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information may be found at www.citigroup.com.