Shanghai, June 8, 2010 - Citibank China Co., Ltd. today announced the launch of a new banking service housed within its consumer branch network designed to help owners of small enterprises. The new initiative is designed to allow customers access to commercial banking services, while also taking advantage of a one-stop offering that caters to their personal banking needs via a single point of contact at Citibank – a first in China.

Anand Selva, Executive Vice President of CCCL, said, "Citibank has a deep commitment to introducing new innovations to China that create substantial value and greater convenience for our customers. The launch of this service reflects a pressing need among small businesses for banking services that are better tailored to their specific needs and our intent to continue to invest to provide the very best in banking solutions to our growing customer base in China."

Nancy Zhang, Head of Citi China's Commercial Bank, noted: "Citi has a strong track record in supporting the SME sector in China, having been the first international bank to establish a dedicated SME team in 2004. We believe the new "branch model" we are launching today will enable us to reach a wider cross section of companies operating in this space, and in doing so will enable us to build upon the momentum we have achieved over the last six years."

Key product offerings available under the new service include:

• Working Capital Loans, which offer a variety of loans in both foreign currency and Renminbi characterized by quick approval and flexible repayment arrangements.

• Cash Management Services, which provide a range of foreign exchange and cash management products. Cash management services include account establishment, funds receivable and payments, supplemented with electronic banking to allow for efficient cash flow management and supervision. Other solutions available to assist the customer with financial risk management include FX long-term hedge, options and timely delivery of market information and FX analysis.

• Express trade. Citi will leverage its longstanding experience in trade finance to provide comprehensive coverage on trade flows. Citi's global network, its leadership in the provision of export-import trade services, and its understanding of the particular needs of clients in many markets around the world ensures it is well placed to provide trade consulting services that help SME exporters in China achieve their funding requirements.

Under the one-stop design of the new initiative, owners of small businesses that make use of commercial banking services will also be able to conduct their personal banking with Citibank, all through a single relationship manager. The bundling of personal and commercial banking services has been introduced to provide customers with optimal efficiency and convenience.

The new offering will be launched in Shanghai in its initial phase, with an expectation the service will be rolled out to other cities in China over time.