Citibank Partners with Schroders to Become First Bank in China to Offer Global Mutual Funds

August 28, 2007, Shanghai – Citibank ChinaCo., Ltd. ("Citibank") and Schroder Investment Management Ltd. ("Schroders") today announced the launch of a new offering in China, Citibank QDII Product – Schroder International Selection Fund. The launch sees Citibank become the first bank to offer global mutual funds in China. It is being launched under the Qualified Domestic Institutional Investor ("QDII") scheme.

Mr. Anand Selva, Executive Vice President of Citibank (China) Co., Ltd., said, "It is very pleasing that Citibank is the first bank in China to give our local customers the opportunity to invest in global mutual funds, in partnership with Schroders, one of the world's leading mutual funds companies. We place a relentless focus on providing innovative new products and services that meet our customers changing needs, and today's launch is an outcome of that commitment."

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Mr. Lieven Debruyne, Head of Mutual Funds Business for Schroders in Asia, noted, "Schroders is delighted to be working with Citibank to bring six funds of the Schroder International Selection Fund ("Schroder ISF") family to China. With our sole focus on asset management, and well established teams in all key investment regions, we are well placed to provide a mutual funds package that allows Chinese retail customers to diversify their portfolio through investing globally. This collaboration also underpins our commitment to the China market."

The Citibank QDII Product – Schroder International Selection Fund consists of six carefully selected products covering different asset categories, markets, and sectors from which customers can select. These are:

1. Schroder ISF US Dollar Liquidity – Provides liquidity and current income through investment in high quality short-term debt securities that are denominated in US Dollar.

2. Schroder ISF Global Bond – Provides a return of capital growth and income primarily through investment in a portfolio of bonds denominated in various currencies issued by governments, government agencies, supra-nationals and corporates worldwide.

3. Schroder ISF Emerging Market Debt – Provides a return of capital growth and income primarily through investment in a portfolio of bonds from issuers in the emerging markets.

4. Schroder ISF Global Energy – Provides capital growth through investment in securities of companies active in the energy sector.

5. Schroder ISF BRIC (Brazil, Russia, India, China) – Provides capital growth primarily through investment in equity securities of Brazilian, Russian, Indian and Chinese companies.

6. Schroder ISF Global Equity Yield – Provides total return through investment in equities of companies worldwide which offer attractive yields and dividend payments.

"Today's launch represents an important development for individual investors in China who are seeking a wider range of international investment opportunities. This offering gives investors a path to investing globally, and provides flexibility, liquidity and choice," Mr. Selva said.

The Citibank QDII Product – Schroder International Selection Fund is denominated in USD and is available to local residents of China only. It will be available in Shanghai, Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu, and Hangzhou.

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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, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

Citi China
Citi first established an office in China on May 15, 1902, in Shanghai. Today Citi is the premier foreign bank operating in China, offering the broadest product range of any foreign bank in China. Citi currently operates seven corporate & investment bank branches - Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu and Hangzhou, twenty consumer bank outlets in Shanghai, Beijing, Tianjin, Guangzhou, Shenzhen, Chengdu and Hangzhou. With operations in more than 100 countries around the world, Citi is the most global of all foreign banks in China.

Source: Citibank