Fast, Convenient “Contactless” Payments to Provide Trial Participants More Time to Reach Their Destinations

PURCHASE, NEW YORK, January 30, 2006–MasterCard International and Citi today announced that they will be working with the Metropolitan Transportation Authority and MTA New York City Transit to conduct a trial of contactless payments in select New York City subway stations with pre-selected Citi customers. The trial is scheduled to begin in the Spring of 2006 and is expected to last approximately six months.

Contactless payments offer consumers a fast and convenient way to pay. Using contactless payment technology, powered by MasterCard® PayPass™, participants in the subway trial will be able to pay for their fare at the point of entry by simply tapping their new Citi® MasterCard® card or payment tag on a specially equipped reader mounted on a subway turnstile. These specially equipped readers will feature a graphic that is unique to the trial, so that participants will know which turnstiles accept their cards or tags. These cards and payment tags will also be useable at any MasterCard PayPass merchant location. The payment tag conveniently fits on any key chain, and both the tag and card allow for everyday small purchases to be completed quickly, securely and easily, without needing to fumble for cash and coins.

The trial will take place at select Lexington Avenue Line 4 5 6 stations. During the trial, participating customers will have the pay-per-ride option, including the 20% bonus, available to them. No passes or transfers to buses will be available.

“By taking part in this trial with MasterCard and Citi, the Metropolitan Transportation Authority is continuing its ongoing exploration of electronic payment technology,” said Metropolitan Transportation Authority Executive Director Katherine N. Lapp. “Contactless payments hold the promise of simplifying fare payment for customers who travel throughout the MTA network, while also providing for operating efficiencies and cost savings.”

“Citi is dedicated to providing best in class products and services to our customers, as well as deploying innovative solutions that offer greater speed and convenience at multiple points of distribution, such as the Metropolitan Transportation Authority subway stations,” said Amy Radin, Chief Innovation Officer, Global Consumer Group, Citigroup. “As a global company with roots in New York City, we are pleased to join the MTA and MasterCard to learn if our debit and credit cardholders across the banking spectrum will find contactless payments to be a positive benefit in their commuter experience.”

“The goal of this trial is to evaluate the speed and convenience that contactless payments can provide to New York’s busy commuters and to test the consumer experience,” said T.J. Sharkey, Vice President, Business Development, U.S. Acceptance, MasterCard International. “As anyone who has ever commuted through the subway system knows well, time is a critical factor.

“A successful trial would ultimately benefit all of MasterCard’s customer financial institutions as well by opening up another acceptance channel for their contactless payments programs,” added Sharkey.

For additional information on MasterCard’s contactless payment initiatives, please visit http://www.mastercard.com.

About Citi

Citi is a member of Citigroup (NYSE: C). Citigroup, 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. Additional information may be found at http://www.citigroup.com.

About MasterCard International

MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members’ credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard manages a family of well-known, widely accepted payment card brands including MasterCard(R), Maestro(R) and Cirrus(R) and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 105 countries and in 48 languages, giving the MasterCard brand a truly global reach and scope. For more information go to http://www.mastercardinternational.com.