For Immediate Release
December 16th, 2008 - Budapest

Citibank Hungary Enhances Local Operation to Bring Best Financial Solutions to Clients
Change in Hungarian Legal Vehicle means larger balance sheet and lending capacity

After more than 22 years of successful operations in Hungary, Citibank Zrt. will be converted into a branch of Citibank Europe plc (CEP) based in Ireland effective January 1, 2009. The branch conversion to be implemented in the form of a cross-border merger has been approved both by the Irish and Hungarian financial regulator and the name of the new vehicle will be Citibank Europe plc Hungarian Branch Office. Read More ››

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Media Contact:
Eva Hencz, Vice President, Public Affairs Officer, Citibank Zrt.
Tel: +36 1 374-5307, Mobile: +36 30 250-7473, Fax: +36 1 374-5378

About Citi
Citi, 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. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.