This target includes nearly $10 billion in activities Citi has already undertaken to address climate change to date.

Corporate-wide, Citi will increase ten-fold, to $10 billion, its commitment to reduce its corporate environmental footprint through its own real estate portfolio, procurement and energy use, as part of its pledge to reduce GHG emissions by 10% by 2011.

This undertaking across Citi’s more than 14,500 global facilities is driven by the creation of a Global Energy Council; purchase of 52,283 MWh of green power for operations; and its goal of achieving environmental certification (e.g. Leadership in Energy and Environmental Design or LEED in the US) for the construction of all new office buildings and operations centers and evaluation of existing larger facilities.

In 2007, two major US office facilities in Dallas and New York City are in the process of achieving LEED status, with a new office tower in Long Island City, NY, housing 1,500 employees, achieving LEED Silver rating, and a data center in Europe that is being designed to achieve LEED Gold status. Citi expects to open LEED-certified retail branches in 2008, and has already begun installation of 100% recycled materials.

Citi’s Markets & Banking group plans to invest in and finance over $31 billion in clean energy and alternative technology over the next ten years through the expansion of existing activities and the launch of new client services. With committed investments and financings approaching $7.5 billion to date, the Markets & Banking group sees tremendous opportunities to support companies working in alternative energies such as solar, wind, hydro and geothermal; helping to commercialize energy efficiency ideas; and facilitating investments in aging infrastructure using cleaner and more efficient technologies.

Citi has a growing portfolio of equity investments in renewable energy projects, including wind farms in Minnesota and New Mexico. Citi recently advised and financed the $2.15 billion acquisition of a major US wind portfolio by EDP - Energias de Portugal that plans to bring more than  9,000 MW of new wind development projects to market. Citi also underwrote US Green Bonds for a green/carbon neutral real-estate development in Syracuse, NY, and will continue developing innovative financial products to support clients as they implement climate change initiatives.

Since 2006, Citi has also provided advisory services in targeted GHG-intensive sectors to help clients analyze and understand carbon exposure and reduction strategies, building on Citi’s industry leading environmental and social risk management (ESRM) capabilities.

Various businesses at Citi Alternative Investments (CAI) have been active in making environmentally friendly investments. For example, as part of the Sustainable Development Investment Program, CVC International has invested $150 million to date, including such notable transactions as Suzlon Wind Energy, a wind turbine manufacturer based in India, and Sindicatum Carbon Capital, a developer of projects that reduce GHG emissions globally. Citi Property Investors (CPI) invests in sustainable building projects. Its first such investment was in the Loreto Bay Company, a 5,000-home community in Baja California, Mexico that is one of the largest sustainable resort communities in North America.

In April 2007, CAI created a standalone investment center called Sustainable Development Investments (SDI). SDI builds on Citi’s Sustainable Development Investment Program with an expected ten-fold increase in its capital commitment to over $2 billion of private equity over the next ten years in renewable and alternative energy, clean technologies, energy efficiency, carbon credit markets, waste and water management and sustainable forestry. Similarly, CPI intends to commit $500 million to investments in sustainable building projects over the next 10 years.

In the summer of 2006, CitiMortgage and Sharp Electronics Corporation signed a joint marketing agreement that enables Sharp’s Solar Energy Solutions Group offer home equity loans and lines of credit through CitiMortgage as an additional financing option for homeowners to purchase and install solar electric systems. The home equity program offers customers an affordable alternative to make this energy-efficient upgrade to their homes.

Citi’s commercial finance and leasing division, CitiCapital, is more than doubling its commitment to facilitating the reduction of carbon-gas emissions and promoting sustainability by 2010. Its CitiCapital Energy Finance Unit has an existing portfolio of more than $1 billion from underwriting energy efficiency upgrades for universities, local school districts and various municipalities in the United States, allowing clients to amortize the cost savings of improvement over a 15- to 20-year period generally without capital outlays.

Citi Community Development is building on its existing investing activities to include green-related investments, such as renewable energy tax credit investments and green private equity investments.

Citi Investment Research issued more than 70 climate-related notes in 2006. A major thematic investment research report by Edward Kerschner, Chief Investment Officer of Citi Investment Research, highlights the investment opportunities and implications of a changing climate. Based on this report, Citi is holding a two-day conference on June 5-6, 2007, that will bring senior executives from the corporate, political, regulatory and advisory arenas together with influential global investors to discuss the issue.

Citi Smith Barney and Citi Private Bank also advise clients on opportunities in the socially responsible investment arena, including climate-friendly opportunities.

Citi Private Bank and the Financial Times have created an Environmental Award for businesses from around the world that have significantly improved their environmental performance. The focus in 2007 is on GHG reductions, and the inaugural awards event will be held in London on September 19, 2007.

Citi endorses industry-wide efforts to advance climate solutions, and is actively involved with other corporations on climate change in such groups as Columbia University’s Global Roundtable on Climate Change (GROCC), the Pew Center on Global Climate Change’s Business Environmental Leadership Council, the 3C initiative led by Vattenfall, the World Resources Institute (WRI), and Renewable Energy and Energy Efficiency Program (REEEP).

Citi’s stock is part of Dow Jones Sustainability Index and FTSE4Good, both of which acknowledge leadership in setting standards in sustainable growth and in demonstrating  environmental, social and economic performance.

Citi has been working with Sustainable Finance Ltd., leading advisors on sustainability opportunities to the financial sector, to develop and implement Citi’s environmental strategy, including the climate change commitments announced today.