MIRA INFORM REPORT

Report Date :

11.01.2011

IDENTIFICATION DETAILS

Name :	CITI BANK N A.
Principal Place of Business in India :	293, Dr. D N Road, Fort, Mumbai 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	01.01.1900
Com. Reg. No.:	F00471
Legal Form :	Foreign Registered Bank Incorporated in USA
Line of Business :	Service Provider of Corporate Banking, Retail Banking, Treasury and Other Banking Business

RATING & COMMENTS

MIRA’s Rating :

A (67)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed bank having fine track. Financial position appears to be sound. Fundamentals are strong and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The bank can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION DECLINED BY

Management Non Co Operative (Name not Disclose)

LOCATIONS

Principal Place of Business in India :	293, Dr. D N Road, Fort, Mumbai 400001, Maharashtra, India
Tel. No.:	91-22-26535757 – extension 50 - 56
E-Mail :	naresh.karia@citi.com
Branches :	Located At: Bangalore Kolkata Delhi Mumbai Chennai Pune Hyderabad Ahmedabad Vadodara Jaipur Ludhiana Coimbatore Chandigarh Kochi Gurgaon Surat Lucknow Faridabad Noida Aurangabad Thane Indore Khurda, Orissa Nasik Pundicherry Valsad Jalandhar Bhopal Nariman Point, Mumbai Akola Kurnool, Andhra Pradesh Nanded, Maharashtra

MANAGEMENT

Name :	Mr. Mark T Robinson
Designation :	Chief Executive Officers

KEY EXECUTIVES

Name :	Mr. Vikram Pandit
Designation :	Chief Executive Office of Citigroup Inc.

BUSINESS DETAILS

Line of Business :	Service Provider of Corporate Banking, Retail Banking, Treasury and Other Banking Business
Services:	Banking Service Insurance Service General Insurance Life Insurance Savings Plans Investments Service Credit Cards Service Loans Service

GENERAL INFORMATION

No. of Employees:	Not Divulged by Management
Bankers :	Reserve Bank of India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	R Batliboi and Company Chartered Accountant
Address :	6^th Floor, Express Towers, Nariman Point, Mumbai 400021, Maharashtra, India
Tel. No.:	91-22-66579200
Fax No.:	91-22-22876401
Parent Company:	Citibank N.A. and its branches
Holding Company of Parent:	Citigroup Inc.
Subsidiaries of Parent:	Bank Handlowy w Warszawie S.A. Citibank Anonim Sirketi, Turkey Citibank Budapest Limited Citibank Canada Citibank China Limited Citibank Europe Plc Citibank International Plc Citibank Japan Limited Citibank Korea Inc Citibank Limited, Australia Citibank Malaysia Citibank Overseas Investment Corporation Citibank Privatkunden AG and Company KGAA Citibank Taiwan Limited Citibank Tanzania Limited Citibank Uganda Limited Citibank Zambia Limited Citicorp Capital Markets Limited Citicorp Clearing Services India Limited Citicorp Finance (India) Limited Citicorp Investment Bank (Singapore) Limited Citicorp Maruti Finance Limited Citicorp Services India Limited CitiFinancial Consumer Finance India Limited CitiFinancial Retail Services India Limited Citigroup Transaction Services (Malaysia) Sdn Bhd
Fellow Subsidiaries of Parent:	Citicorp Banking Corporation, Bahrain Citicorp Credit Services, Inc. (USA) Citicorp Data Systems Inc. Citicorp International Finance Corporation Citicorp North America Administrative Services, Inc. Citicorp Securities Asia Pacific Limited Citigroup Global Markets India Private Limited Citigroup Global Markets Mauritius Private Limited Citigroup Global Technology Infrastructure Inc. Citigroup Strategic Holding Mauritius Limited Court Square Capital Limited Orbitech Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Rs. In Millions

	31.03.2010
CAPITAL
Amount of deposit kept with RBI under Section I I ( 2 ) ( b )of the Banking Regulation Act, 1949	24489.000

CAPITAL
Initial Capital	2.000
Interest free funds from H.O. for CRAR requirements
Opening Balance	26015.125
Additions during the year	11421.250
	37436.375
TOTAL	37438.375

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
CAPITAL AND LIABILITIES
Capital	37438.375	26017.125	26017.125
Reserves and Surplus	97697.629	89162.710	67496.824
Deposits	544521.336	516774.572	461250.200
Borrowings	120337.785	186612.999	112275.753
Other Liabilities and Provisions	154891.817	234068.477	171470.694
Total	954886.942	1052635.883	838510.596
ASSETS
Cash and balance with Reserve Bank of India	33997.479	32799.989	46841.199
Balances with banks and money at call and short notice	117866.107	127778.997	69680.564
Investments	281086.924	245193.515	184500.756
Advances	366550.720	399199.368	383765.173
Fixed Assets	7046.869	7314.609	7113.279
Other Assets	148338.843	240349.405	146609.625
Total	954886.942	1052635.883	838510.596
Contingent Liabilities	10854355.198	10672685.776	16447287.780
Bills for Collection	43198.036	40034.983	36567.193

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Interest Earned	60704.683	68402.377	59639.865
		Other Income	15913.350	35823.028	24461.222
		TOTAL	76618.033	104225.405	84101.087
Less	EXPENSES
		Interest Expended	20167.626	24288.418	23114.281
		Operating Expenses	23543.155	25872.256	21793.658
		Provisions and Contingencies	24303.387	32333.946	21150.548
		TOTAL	68014.168	82494.620	66058.487
	NET PROFIT FOR THE YEAR		8603.865	21730.785	18042.600
Less	APPROPRIATIONS
		Transfer to Statutory Reserve	2150.966	5432.697	4510.650
		Transfer to Capital Reserve on Sale of immovable property	0.000	60.107	90.000
		Transfer to/(from) Investment Reserve	(584.374)	470.144	281.518
		Transfer to Special Reserve	288.505	239.556	114.230
		Transfer to remittable surplus retained for CRAR requirments	6748.768	15528.281	13046.202
	BALANCE CARRIED TO THE B/S		8603.865	21730.785	18042.600

LOCAL AGENCY FURTHER INFORMATION

BACKGROUND

The accompanying financial statements for the year ended March 31,2010 comprise the accounts of the Indian branches of the bank, which is incorporated with limited liability in the United States of America. The Indian branches of the Bank as at March 31,2010 are at: Ahmedabad, Akola, Aurangabad, Bengaluru (M.G. Road and South End Road), Bhopal, Bhubaneshwar, Chandigarh, Chennai (Anna Salai and Alwarpet), Coimbatore, Faridabad, Gurgaon, Indore, Jaipur, Jalandhar, Kochi, Kolkata (Brabourne Road and Chowringee Road), Lucknow, Ludhiana, Mumbai (Andheri, Fort, Juhu, Nariman Point, Khar and Vashi), Nanded, Nandyal, Nasik, New Delhi (Parliament Street, Punjabi Baug, Nehru Place, South Extension and Vasant Vihar), Noida, Puducherry, Pune, Secunderabad, Surat, Vadodara and Vapi.

BUSINESS SEGMENT

In line with the RBI guidelines on Segment Reporting, the Bank has identified the following segments as primary reportable segments: Corporate banking, Retail banking, Treasury and Other banking business. Under the 'Corporate banking' segment the bank provides loans and caters to foreign exchange requirements of corporate and financial institutions. Revenues of this segment consist of interest and fees earned on loans made to corporate customers and income from dealing in foreign exchange. The principal expenses of the segment consist of interest expense on funds borrowed from external sources and other internal segments, personnel costs, other direct overheads and allocated expenses. Under the 'Retail banking' segment the bank serves retail customers through a branch network and other approved delivery channels. Exposures are classified under Retail banking taking into account the orientation, product, granularity and individual exposure criterion. This segment raises deposits from customers and makes loans and provides advisory services to such customers. Revenues of the Retail banking segment are derived from interest earned on retail loans, fees for banking and advisory services and interest earned from other segments for surplus funds placed with those segments. Expenses of this segment primarily comprise interest expense on deposits, infrastructure for operating the branch network and other delivery channels, personnel costs, other direct overheads and allocated expenses.

Under the 'Treasury' segment the bank undertakes trading operations on proprietary account, investments in corporate debt, government securities, funding and gapping products and derivatives trading. Revenues of this segment consist of interest earned on funding and gapping activities, investment income and gains on government securities and debentures / bonds and income from derivative transactions. The principal expenses of this segment consist of interest expense on funds borrowed from external sources and other internal segments, personnel costs, other direct overheads and allocated expenses.

Other Banking' segment includes all other banking operations, which are not included under Corporate banking, Retail banking and Treasury segment. Revenue from this segment consists of insurance referral fees and underwriting commission from Primary dealership business. The principal expenses of this segment consist of personnel costs, other direct overheads and allocated expenses.

Segment revenue includes earnings from external customers and earnings from or charge from other segment on account of finds transferred at negotiated rates, which generally reflect the market rates.

Fixed Assets:

• Leasehold Land
• Premises
• Furniture and Fixtures

PRESS RELEASE

For Immediate Release

Citigroup Inc. (NYSE: C)

July 15, 2010

Citi appoints Pankaj Vaish as Head of Markets, for South Asia - India, Bangladesh and Sri Lanka

Mumbai/HK: Citi has appointed Pankaj Vaish as Head of Markets for Citi in India, Bangladesh and Sri Lanka, with responsibilities for the fixed income, currencies, credit, commodities and equities businesses. Pankaj will report to Rodrigo Zorilla, Head of Global Markets at Citi Asia Pacific and to Pramit Jhaveri, CEO at Citi India.

"We are delighted to have someone with Pankaj's experience and expertise join us as a very key member of our management team and to lead all of our Markets businesses in India, Bangladesh and Sri Lanka" said Pramit Jhaveri, CEO at Citi India.

"I am confident that under Pankaj' leadership we will further build on the existing momentum. His extensive experience in markets and trading, complemented by his client relationships will help us build on the robust markets business created by the team under the strong leadership of Srikanth," said Rodrigo Zorilla, Head of Global Markets at Citi Asia Pacific.

Pankaj joins Citi from Nomura Securities where he is a Managing Director and Head of Equities. Pankaj has over 19 years of capital markets experience across product lines and possess in-depth knowledge of hedge funds. Prior to that, he has worked in Citi New York and his last designation was MD, Proprietary Trading. Earlier in his career with Citi, he was responsible for the North America Equity Derivatives Trading & Structuring, Global Commodity Derivatives and Fixed Income Derivatives Trading activities. He also managed the Global Hybrid Options desk and Credit Derivatives trading. He has a Master of Science in Management (Sloan School) as well as Bachelor's degree in Economics from the Massachusetts Institute of Technology.

About Citi

Bank, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Bank provides 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, transaction services, and wealth management.

Additional information may be found at www.citigroup.com or www.citi.com

For Immediate Release

Citigroup Inc. (NYSE: C)
July 08, 2010

Citi Wins 13 Euromoney Awards for Excellence

Citi CEO Vikram Pandit Named Banker of the Year

London and New York: Citi announced today that it received 13 major product and regional awards in the annual Euromoney Awards for Excellence including Banker of the Year honors for Vikram Pandit, Chief Executive Officer of Citigroup.

"I am deeply honored that Euromoney has recognized the significant progress we are making at Citi," said Mr. Pandit. "By focusing on being a bank dedicated solely to serving its clients and taking advantage of our unique global footprint, we have put all the elements in place for long-term profitability and success. This recognition would never have been possible without the dedication and hard work of our 263,000 employees around the world, and I am proud to accept this award on their behalf."

Citi was also awarded Best Global Transaction Banking House for its Global Transaction Services business, which offers integrated treasury and trade solutions and securities and fund services to multinational corporations, financial institutions and public sector clients in over 100 countries around the world. Citi Global Transaction Services processes over $3 trillion in worldwide transactions daily, serving 96 percent of the world's Fortune 500 companies.

Francesco Vanni d'Archirafi, Chief Executive Officer of Global Transaction Services at Citi, said, "We are delighted to be recognized by Euromoney for our transaction services business globally and across five regions. The power of this business lies in our ability to serve our clients locally, regionally and globally, wherever they do business in the world. Citi is continuing to invest in our people and our technology as a priority, to ensure we remain at the forefront of innovation with our clients and deliver solutions that realize their aspirations for the future, today."

Leveraging its global presence and product expertise, Citi also was awarded:

·Best Investment Bank in the Caribbean

·Best Investment Bank in India

·Best Cash Management House in Africa

·Best Cash Management House in Asia

·Best Cash Management House in Central and Eastern Europe

·Best Cash Management House in Latin America

·Best Cash Management House in North America

·Best Debt House in Colombia

·Best Debt House in Mexico

·Best Equity House in Hong Kong

·Best Equity House in the Middle East

The Euromoney Awards for Excellence, currently in their 19th year, continue to be among the most respected awards in the financial services industry.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
June 03, 2010

Citi appoints Rajiv Nayar head of Capital Markets Origination for India

Hong Kong/Mumbai: Citi has appointed Rajiv Nayar as Head of Capital Markets Origination (CMO) for Citi in India, leading the team that helps originate and execute debt and equity transactions for Citi's clients in India. Rajiv will report to Ken Poon, Head of Asia Pacific Capital Market Origination and Ravi Kapoor, Head of Global Banking India.

"I am delighted that we are able to bring someone with Rajiv's experience back to India. It is a testimony to the extraordinarily strong talent pool that exists within Citi globally and the importance of Citi's India franchise," said Pramit Jhaveri, CEO for Citi India.

"We have a leading franchise and capital market business in India and are confident that under Rajiv's leadership our capital market business in India will grow significantly and achieve new heights," said Ravi Kapoor.

"Rajiv's extensive experience of working across many businesses and products globally shall further strengthen our Indian franchise and add value to our clients' needs in India," said Ken Poon.

Offering both local and international solutions to clients, Citi is a leading underwriter of debt and equity transactions in India and over the last 12 months has raised close to US$20bn for Indian clients from debt and equity markets, according to data from Dealogic.

Rajiv has extensive experience working with clients in Asia, including India. Until recently, Rajiv was a Managing Director in the Leveraged and Acquisition Finance Team within Citi's Asia Pacific Capital Markets Origination Group in Hong Kong. During this period he lead a number of landmark debt transactions in the region including the financing of the acquisition of Corus plc by Tata Steel and the refinancing of the Jaguar Land Rover acquisition facilities for Tata Motors.

Rajiv is currently the Head of Citi's Capital Management Group within Global Banking for Asia Pacific where he is responsible for the management and deployment of capital for institutional clients in the region as well as oversight of debt transactions for Global Banking within the region.

Rajiv joined Citi in India at the end of 1984 and has over the last 25 years worked in a wide range of coverage and product roles within Citi including Corporate Banking, Corporate and Project Finance and Portfolio Management in India, London and Hong Kong.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
May 12, 2010

Citi India Announces Key Senior Appointments

Mumbai: Citi India today announced a number of significant new appointments across its franchise, covering senior roles in its Strategy, Risk, Human Resources and Legal Functions. The firm named Anuratna Chadha as Head of Strategy for India with additional responsibility for Citi's Microfinance Business in the country, Stephen Cronin as Head of Human Resources for the India Cluster, Piyush Agrawal as Head of Risk for Citi's Institutional business in the India Cluster, Sandip Beri as Head of Legal for Citi India and Munish Nagpal as Legal Head of Citi's Capital Markets Origination and Global Banking businesses in India.

About Anuratna Chadha, Head of Strategy, Citi India
In this new role, Anuratna Chadha will work towards the strategic growth and development of Citi's India franchise. He will also lead Citi's Microfinance Group in India and assume responsibility for building and driving the Firm's Microfinance and Rural business and strategy. Anuratna has been with Citi for over 19 years in various roles in India & South Africa. Most recently he managed the India Citi Private Bank.

About Stephen Cronin, Country Human Resources Officer, India, Bangladesh & Sri Lanka
Prior to assuming the Country HR Officer (CHRO) role for Citi India, Stephen was the CHRO for Citi in Japan. Stephen began his career with Citi in 1995 as an HR Generalist and has served as HR Head for Citi in Singapore and in Europe covering Citi's Global Transaction Services business.

About Piyush Agrawal, Risk Head, Institutional Clients Group, India, Bangladesh & Sri Lanka
Piyush Agrawal succeeds veteran Citibanker Jose Joseph who is moving to New York to become the Head of the Technology, Media and Telecom (TMT) team. Piyush's most recent assignment was in Citi's Global Risk Oversight organization in New York where he was involved in a variety of firm-wide strategic initiatives. Piyush joined Citi in 2001 and has worked with the Global Power coverage team as well as in several senior roles across the Consumer and Commercial Risk organizations.

About Sandip Beri, Head, Legal, Citi India
Sandip is a highly credentialed lawyer with over 25 years of financial services legal experience in the US and India, in both the institutional and consumer sectors. He joins Citi from GE Capital, where he most recently served as their general counsel in India following significant experience in GE's Head quarters in Connecticut. Sandip also has private practice experience at Sidley & Austin in Chicago and at a local law firm in New Delhi. He is admitted to practice in India and in the United States.

About Munish Nagpal, Head, Legal, Citigroup Global Markets India
Munish joins Citi from Clifford Chance where he spent the past two years in its Singapore office as part of its India focused capital markets team. He brings more than eight years experience as a lawyer, and knowledge on a broad range of cross-border capital markets transactions. Prior to joining Clifford Chance, Munish was with Skadden Arps in Singapore and has previously worked with Fried Frank in New York and London, and Amarchand Mangaldas in India. Munish is qualified to practise law in New York, England and Wales and India, and is a graduate of Harvard, Cambridge and University of Delhi law schools.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
May 03, 2010

Citi Names Sunil Nair as the Head of India Private Equity Business

Mumbai: Citi today named Sunil Nair as the Head of its Private Equity Business in India. Nair, Managing Director and Head of Citi Venture Capital International's (CVCI) investment activities in Central/Eastern Europe, Middle East and Africa, will assume additional charge of India with immediate effect.

Announcing the appointment, Dipak Rastogi, CEO of CVCI, remarked, "India is a key market where CVCI has invested approximately US$ 1.1 billion across approximately 40 transactions. Sunil Nair is a senior member of the CVCI Management team and one of the most experienced and successful investment professionals in emerging markets private equity. Sunil has also been very involved in our investment activities in India. His appointment to this key role is reflective of CVCI's strong and continued commitment to invest in India. This move will help us further leverage CVCI's global expertise while investing in India".

Speaking on the occasion, Sunil Nair, said, "Given its attractive and sustained GDP growth, strong investment fundamentals and the emergence of a large affluent middle class, India is one of the most attractive markets globally from an investment perspective. I look forward to further building and developing the CVCI franchise in India."

Nair joined Citi/Salomon Smith Barney (New York) in 1997. He then joined Citi's private equity business in 1999 and was one of the founding partners of CVCI in 2001. Prior to Citi, Nair was with McKinsey & Company. With over 15 years of international experience, including 11 years of private equity experience, Nair is one of the pioneers and leading exponents of structured private equity investments in the emerging markets. Nair's extensive experience spans buyouts, expansion capital, privatizations, restructurings, and industry consolidations across markets including India, Russia, Turkey, Poland, South Africa and Egypt, among several others. He has led transactions in a wide range of sectors including pharmaceuticals, retail, transportation, telecommunications, real estate, banking, food & beverage and logistics. Nair is an alumnus of and holds advanced degrees from Yale University in the US, Italy's Scuola Superiore Enrico Mattei and Chennai's Loyola College. "PR Srinivasan will be leaving CVCI in the next few months for personal reasons and we thank him for his contribution to the business", added Rastogi.

About CVCI
CVCI is a leader in global emerging markets private equity investing and currently manages over US$ 6 billion in equity investments and committed capital. CVCI has a internationally integrated investment team with over 50 professionals worldwide with a local presence in Singapore, Mumbai, New Delhi, Hong Kong, London, New York, Tokyo and Santiago. CVCI is part of Citi Capital Advisors. Citi Capital Advisors is an alternative asset management platform that offers a broad range of innovative strategies and products to select institutional and ultra-high-net-worth investors.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
April 27, 2010

Saurabh Tiwary Wins Citi Under-23 Success of the League Trophy

Mumbai: Mumbai Indians batsman Saurabh Tiwary has been named Winner of the 2010 Citi Under-23 Success of the League Trophy. The Citi Under-23 Success of the League Trophy recognizes the best under-23 player of the DLF IPL season. The Trophy is adjudicated by an eminent jury comprising former Indian cricketers Ravi Shastri, Sunil Gavaskar and Mansoor Ali Khan Pataudi. N. Rajashekaran, Country Business Manager, Consumer and Commercial Banking, Citi India presented Tiwary the trophy at a ceremony following the finals of the DLF IPL last night.

20-year-old Tiwary was named the best young player of this year's season ahead of other strong contenders including Kieron Pollard and last year's winner of the Citi Under-23 Success of the League Trophy Rohit Sharma. Totalling a handsome 419 runs at a strike rate of 136, Tiwary became one of the key members of the Mumbai Indians powerful batting line-up. Speaking about his decision, Ravi Shastri said, "Saurabh Tiwary has been one of the real finds of this year's DLF IPL. Few people will have been aware of him before this season but his performances have caught the selectors' eye. He has not been fazed by the big occasions and looks set for a great future in the game. He had some tough competition for this award but is a worthy winner of the Citi Under-23 Success of the League".

N. Rajashekaran, Country Business Manager, Consumer & Commercial Banking, Citi India said, "By instituting the Citi Under-23 Success of the League Trophy, we hope to make a contribution towards recognizing and encouraging young talent. We hope that the Trophy will motivate youngsters like Saurabh to aspire towards building a successful career in the game."

Saurabh Tiwary said, "I am thrilled that Ravi Shastri and Sunil Gavaskar have chosen me as the Citi Under-23 Success of the League. Playing for Mumbai Indians this season has been a wonderful experience. I have learnt so much from playing with so many great players. I would like to thank my teammates for helping me in winning this award. It is a great honour to be this year's Citi Under-23 Success of the League trophy holder."

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citibank N.A.
April 22, 2010

Citi India Names Rahul Soota as the Head of Retail & Commercial Banking

Mumbai: Citi India today announced the appointment of Rahul Soota as Head of Retail & Commercial Banking. In this role, Mr. Soota will be responsible for Citi's Branch Banking and Citigold Wealth Management, Mortgages and Suvidha businesses. He will also lead Citi's Commercial Banking business spanning the Business and Professional, Small and Mid Market Enterprise Segments. Mr. Soota will report jointly to N. Rajashekaran, Country Business Manager, Global Consumer Group, Citi India and Gaurang Hattangdi, Head, Commercial Banking, Citi Asia Pacific.

Announcing this appointment, N. Rajashekaran, Country Business Manager, Global Consumer Group, said, "Rahul's appointment emphasizes the tremendous opportunity we see in our Consumer and Commercial banking franchise in the country. Under his leadership, we will strengthen our focus on driving success for our clients by serving stronger value propositions. With his track record, Rahul is well positioned to pull our strengths together on one platform and in one team to derive customer-centric synergies that encompass all the personal and business banking needs of our customers."

This appointment also reflects Citi's move in Asia to integrate the two separate units that served this growing market segment into a single operating platform in the form of a new Commercial Bank. Previously, Citi served the Small Business and Professional segment via the CitiBusiness brand, which was hosted out of the Consumer Bank, and the Small & Mid Market Enterprise segments from the Local Commercial Bank under Citi's Institutional Clients Group.

Gaurang Hattangdi, Head, Commercial Banking, Asia Pacific, said, "We see the Commercial Banking space as a tremendous opportunity for Citi in Asia and in India and we are committed to growing our presence in this space where today, we have over 2,00,000 clients across Asia Pacific. The new integrated Commercial Bank provides us with a superior ability to serve customers ranging from small and mid-sized companies, their owners and employees the entire breadth of the firm's market-leading corporate and wealth management products via a unified operating platform."

About Rahul Soota, Head of Retail & Commercial Banking: Rahul Soota joined the Bank in 1992 upon completion of his articleship at Pricewaterhouse. A highly experienced Citibanker, Soota has worked in Financial Control, Personal Loans, Mortgages and Business Lending. Some of the key assignments Soota has held during his nearly 20 years at Citi are Head of Mortgages and Head of Retail Bank. Prior to being named Head of Retail & Commercial Banking, Soota was Managing Director of Citifinancial where he led a comprehensive two-year long remodeling and repositioning exercise helping diversify its sources of revenue across Personal Loans, Mortgages and Wealth Management.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
April 14, 2010

Citi Names Ravi Kapoor, the New Head of Global Banking India

Hong Kong/Mumbai: Citi today announced the appointment of Ravi Kapoor as the New Head of Global Banking India. In this role, Kapoor will report to Pramit Jhaveri, Citi Country Officer, India, and Farhan Faruqui, Head of Global Banking, Asia Pacific. The appointment is effective immediately.

Global Banking fully integrates Citi's leading corporate and investment bank capabilities, and in his new role, Kapoor will be responsible for the coverage of the firm's largest institutional clients via a full suite of world-class corporate banking, lending, capital markets and advisory products. Kapoor was previously the Head of South Asia Capital Markets Origination and was responsible for taking the business to its current market-leading position.

Announcing the appointment, Pramit Jhaveri said, "With Ravi's longstanding relationships with key Indian corporates and financial institutions, and his track record of leading numerous landmark transactions, he is ideally positioned to build upon our Global Banking business in India."

Farhan Faruqui said: "Our Global Banking structure gives us a single, unified coverage force that can deliver to our clients the best ideas, innovations, products and services in the industry. Ravi brings a wealth of experience and expertise to this important leadership role."

Kapoor has more than 22 years of banking and capital markets experience with a reputation for managing, growing and developing the businesses for which he has been responsible. Prior to joining Citi in 2005, he was with ICICI and DSP Merrill Lynch, where he held senior positions in Investment Banking, Corporate Banking/Lending, and Equity Capital Markets.

Kapoor has spearheaded some of the most prominent and innovative capital markets transactions in India. In capital markets, Citi has helped Indian clients raise close to US$ 20 billion from local and international markets since 2009, according to data provider Dealogic. This includes helping Tata Group companies raise close to US$ 2 billion from equity capital markets since 2009, and completing the first QIP and CB combo for L&T. In 2010, Citi was the only international bank to be on both the US$ 2.3 billion and US$ 1.7 billion government offerings in NMDC Limited and NTPC Limited, respectively. Citi was also the sole book runner on the US$ 570 million secondary placement of shares held by Petroleum Trust in Reliance Industries, as well as the US$ 423 million monetization of Daimler Benz's stake in Tata Motors.

In recognition of its leading position in financial services, Citi was awarded the Best Foreign Investment Bank in India in 2009 by FinanceAsia magazine. It was also named as the Best Foreign Investment Bank in 2009 by The Asset Magazine for the sixth consecutive year, and Best M&A House.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
March 30, 2010

Citibank India Wins "Excellence in Internet Banking" Award for the Year 2009

Mumbai: Citibank India has won the "Excellence in Internet Banking" for the year 2009 in The Asian Banker Excellence in Retail Financial Services Awards Programme. Citibank India's Internet offering was chosen as the best amongst 120 banks and financial institutions from 23 countries across the Asia Pacific, Gulf and Central Asian regions. The prestigious Programme, administered by The Asian Banker is refereed by prominent global bankers, consultants and academics. The Winner was determined after a stringent three month-long evaluation process based on a balanced and transparent scorecard.

"Citibank India's strength in online product innovation and online portfolio management has led to its continued online leadership," said Mr. Chris Kapfer, Head of the Excellence in Retail Financial Services Programme at The Asian Banker.

Citibank India's Internet and mobile banking is its largest channel for customer interaction, providing a convenient and efficient banking service. The well engineered online offering enables customers to manage their accounts through an easy to use and functionality loaded interface. It allows them to perform every possible banking transaction online at www.citibank.com/india and the linkages to Credit Cards, loans, mutual funds, brokerage and insurance products differentiate Citibank Online from the other entrants. Potential customers can also access information on the entire range of financial products that Citibank India offers, and can apply online for straight-through approvals for most products. Citibank India was one of the first banks to launch multi-factor authentication - using a combination of instruments such as hardware tokens, one-time passwords and E-mail and SMS alerts for its domestic and NRI customers.

Speaking on the occasion, N. Rajashekaran, Country Business Manager, Consumer and Commercial Banking, Citi India, said, "Online and mobile banking has become a key convenience driver for our customers. As forerunners in offering digital banking, this service has been built to be user-friendly and secure. We will continue to invest and innovate in this area based on our customers' feedback and evolving needs."

Citi was also named "Best Regional Retail Business in Asia" for 2009 by The Asian Banker for the second consecutive year. In addition to these, Citi also picked up awards for "Best Retail Bank" in Taiwan, "Excellence in Branch Innovation" in Singapore and Hong Kong and "Excellence in Customer Relationship Management" in China.

The award evaluation process uses a balanced scorecard approach and a comprehensive methodology to evaluate the strength of individual banks' retail banking businesses that involve extensive research and probing interviews, and taps on the combined experience of a team of experienced researchers.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
March 29, 2010

Pramit Jhaveri Appointed CCO India

Hong Kong/Mumbai: Citigroup announced today the appointment of Pramit Jhaveri as Citi Country Officer (CCO) of the firm's businesses and franchise in India. In this role, he will oversee all of Citi's businesses in India, including the Institutional Clients Group, Consumer Banking and Global Cards and Wealth Management businesses. Mr. Jhaveri succeeds Mark Robinson, who has decided to pursue an opportunity outside Citi. Based in Mumbai, Mr. Jhaveri will report to Shirish Apte, CEO of Citi Asia Pacific.

Commenting on the appointment, Mr. Apte said: "Pramit brings a wealth of experience, excellent client relationships and an impressive track record of building market-leading businesses. He is ideally placed to drive our efforts to continue to invest and grow in India, which remains a priority market for Citi globally. I would also like to thank Mark for his outstanding service to Citi over a distinguished 25-year career and wish him the very best in his future endeavours."

Mr. Jhaveri is a 23-year Citi veteran, who was previously Head of Global Banking India and Vice Chairman, Asia Investment Banking, where he led Citi India's investment banking franchise and the South Asia capital markets business.

Under his leadership, Citi has played a leading role in helping India's corporate champions expand overseas, including advising and providing financing for Tata Motors purchase of JLR and Tata Steel's acquisition of Corus. Citi has led domestically in M&A, advising Reliance Petroleum on its domestic merger with Reliance Industries last year and played a lead role in the consolidation of the Indian Towers sector, including acting as financial advisor to Tata Teleservices in the merger of its tower subsidiary WTTIL with Quippo for US$ 2.6bn; and to GTL in its acquisition of Aircel Towers for US$ 1.8bn.

In capital markets, Citi has helped Indian clients raise close to US$ 20bn from local and international markets since 2009, according to data provider Dealogic. This includes helping Tata Group companies raise close to US$ 2bn from equity capital markets since 2009, including equity follow-ons for Tata Motors and the first QIP and CB combo for L&T. Other highlights included a US$ 600mn offering for Hindalco and US$ 577mn for Oil India in 2009. In 2010, Citi was the only international bank to be on both the US$ 2.3bn and US$ 1.7bn government offerings in NMDC and NTPC. Citi was also the sole book runner on the US$ 570mn of secondary placement of shares held by Petroleum Trust in Reliance Industries as well as US$ 423mn monetization of Daimler Benz's stake in Tata Motors.

Mr. Jhaveri said: "Citi has built a market-leading franchise in India and I look forward to working with the very strong and experienced local management team on the ground to achieve our growth plans in the market. Our focus is to continue to build out our core businesses and deliver the best Citi products and services to our clients in this priority market."

In recognition of its dominant position in investment banking, Citi has been named the best foreign investment bank in India by Finance Asia Magazine for three consecutive years.

Citi India has also recently launched an integrated Commercial Bank to serve the Business and Professional, SME and MME segments, and introduced several new consumer products, including a new Credit Card rewards platform; CitiHome One Mortgage Loan and the SelectOne wrap portfolio service. It has recently expanded its NRI program to 74 branches in the U.S., including establishing a new presence in Florida and in the New England region. India (Bengaluru) was also the site for the launch of Citi Tap and Pay, one of the world's largest and most comprehensive contactless mobile payment pilots undertaken using NFC (Near Field Communications) technology.

Citi India
Committed to India for over 108 years, Citi takes pride in being a premier locally-embedded financial institution backed by an unmatched international network. Citi's presence in India spans 42 Citibank branches across 30 cities and over 450 ATMs. With capital invested of over US$ 3.8 billion, Citi is the single largest foreign direct investor in the financial services industry in India and offers consumers and institutions a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi is an employer of choice to approximately 8,000 employees in India. Citi's franchise in India includes businesses such as equity brokerage, equities distribution, private banking (Citi Private Bank) and alternate investments and private equity (CVCI). In line with our commitment to make a positive difference in the communities where we work, Citi India's citizenship programme targets its strategic efforts in the priority focus areas of Microfinance and Microenterprise, Small and Growing Businesses, and Financial Capability and Asset Building.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
March 15, 2010

Citi India Appoints Keshav Sanghi as Head of Equities

Focused to be the #1 Equities Franchise in India

Mumbai: Citi has appointed Keshav Sanghi as Head of the India Equities. Keshav joined Citi in January 2010 as Head of Sales and Deputy Head of Equities for the Indian business. An experienced markets professional with a strong background in equities, Keshav in his new role will continue to oversee the sales function, help develop longstanding relationships with Citi's key clients and will have overall responsibility for the Indian Equities business.

Keshav will report in the country into V. Srikanth, in his role as Head of Markets South Asia and regionally into Adrian Faure, Head of Equities Asia Pacific. Additionally, Keshav will continue to report to John Jacobson, Head of Equity Sales Asia Pacific for the growth and development of the sales organization.

"Keshav's appointment will help Citi further expand and strengthen our equities sales and execution capabilities" said V. Srikanth.

"With a career spanning over 19 years in Indian equities, Keshav brings considerable experience to the team. We are confident that the combination of Keshav's leadership and the substantial investment in talent that we have made over the last 6 months will enable us to drive this business forward successfully" said Adrian Faure.

Prior to joining Citi, Keshav served as the CEO of Reliance Equities for 18 months and at Deutsche for the previous 6 years. Keshav is one of the most experienced sell-side individuals in Indian equities, having worked in sales roles at both JP Morgan and HSBC between 1995 and 2002. Keshav holds a degree in Finance, from the University of Texas at Austin, USA.

Citi Global Markets equity franchise in India is widely recognised as one of the leaders in the market, picking up India Best Equity House from Euromoney (2008) and IFR Asia (2005-2007) respectively. Citi was also named Best Foreign Investment Bank in India by Finance Asia and The Asset this year. Citi is a leading underwriter of Indian equities, having led key IPOs and other equity offerings during 2009 that helped raise over US$ 5bn for Indian issuers.

For Immediate Release

Citigroup Inc. (NYSE: C)
February 22, 2010

Citi India Expands Equities Team with Several New Hires

Committed to being #1 franchise for equities in India

Mumbai: In a move highlighting the continued investment in its equities platform in India, Citigroup Global Markets India has announced a number of significant hires across its equities sales and execution business over the past few months. According to Nikhil Nagle, head of equities for Citi India, these appointments further underline Citi's commitment to its clients in India.

"We remain committed to our clients in continuing to invest in our market leading Indian equities franchise across both the primary and secondary markets. To this end Citi has made a number of significant hires across the sales and execution platforms in recent months. These hires have further strengthened Citi's presence in the Indian equities market to over 25 highly talented and motivated individuals," said Nikhil Nagle, Managing Director and Head of Equities, India.

"India is a high priority market for the Asia Pacific region and with these new appointments, Citi is confident of continuing to be amongst the leading Equities franchise in India supporting our clients' needs across the market," added Nikhil Nagle.

The combined experience of the newly expanded talent pool is over 100 years in equity markets, which include hires across sales, trading and execution. Some of the key new talent who have joined the Citi India team, reporting to Nikhil Nagle includes:

Keshav Sanghi joined as the MD and Deputy Head of Equities, India. Prior to joining Citi, Keshav served as the CEO of Reliance Equities and as Head of Equities at Deutsche. He has over 15 years of experience in Indian Equity sales. In his new role, he will develop long-standing relationships with a majority of Citi's key clients.

Richard Macfarlane joined as MD and Head of Execution Services, India with a focus to strengthen the Indian equities franchise, especially with Citi's offshore clients. He brings with him over 20 years of experience across Pan Asian and European markets and has the additional responsibility of overseeing the growth of Citi's electronic trading platform in the Indian market. He was earlier the Head of AP Sales Trading for UBS and then the Head of European Sales Trading for UBS.

Vandana Luthra as MD, India Equity Sales, brings over 15 years of diversified equity research experience across FMCG, real estate and the metals sectors. Her earlier research assignment with Merrill Lynch across these sectors will add considerable value in strengthening and developing the Citi Equity Sales franchise especially with leading offshore accounts where she shares long standing relationships as a highly rated analyst.

Chandra Sekaran as Director, Equity Sales Trading, brings over 18 years of sales trading experience in Indian markets, across various organizations like Reliance Equities, Kotak, JP Morgan and Deutsche Bank. His experience as a buy side trader with Franklin Templeton will provide additional value to Citi equity sales trading desk.

Abhijit Attavar as Director, India Trading brings considerable value and experience to the India trading desk. Abhijit was earlier the Head of Small-Mid cap research at ABN Amro and has over 15 years of experience in research across markets in the region.

Andrew Sutcliffe, Director, Equity Sales Trading, has a total of over 13 years experience in equities with the last three years being in institutional sales trading at Nomura.

Abhinav Khanna, Director, Equity Sales joined from Macquarie and comes with eight years of experience in Indian equities, with the last three years in equity sales in Macquarie.

Suveer Chainani, Director, Equity Sales joined from Macquarie after four years with its Indian equities team after a stint in sales with IBM.

Vaibhav Shintre, Execution Trader joined after graduating from IIM Ahmedabad in 2009. Vaibhav had interned with Citi in Hong Kong last year and will be a key driver of our effort to revamp the execution role.

Asia Pacific head of equities Adrian Faure added that "India remains a high priority market for the Asia Pacific region and with these new additions we are confident that Citi will be able to build further on its leading position in the Indian equities market."

Citi Global Markets equity franchise in India is widely recognised as one of the leaders in the market, picking up India Best Equity House from Euromoney (2008) and IFR Asia (2005-2007) respectively. Citi was also named Best Foreign Investment Bank in India by Finance Asia and The Asset this year. Citi is a leading underwriter of Indian equities, having led key IPOs and other equity offerings during 2009 that helped raise over US$ 5bn for Indian issuers.

Wipro To Acquire Citi Technology Services Ltd. [India]

Wipro and Citi Enter Agreement for Wipro to Provide Information Technology Services to Citi and its Businesses

Bangalore, India and New York, USA - December 23, 2008: Wipro Technologies, the global IT services business of Wipro Limited (NYSE: WIT) and Citigroup Inc. (Citi), the leading global financial services company, today announced that they have reached an agreement for Wipro to acquire Citi Technology Services Ltd., the India-based captive provider of information technology services and solutions to Citi entities worldwide, for an all cash consideration of approximately $127 million. As part of the transaction, Wipro and Citi will sign a Master Services Agreement for the delivery of Technology Infrastructure Services (TIS) and Application Development and Maintenance (ADM) services for a period of six years. The agreement provides for the delivery of at least$500 million in service revenues over the period of the contract.

Based in Mumbai and Chennai, Citi Technology Services provides IT services to Citi and its affiliates around the world. Citi Technology Services has grown tremendously since its inception in 2005, and today has approximately 1,650 employees trained in Citi processes and technologies, servicing Citi businesses in more than 32 countries. Citi Technology Services' revenues are expected to be approximately $80 million in CY2008.Apart from strong competencies in TIS, Citi Technology Services has expertise in ADM for Cards, Capital Markets and Corporate Banking.

This transaction strengthens Wipro's existing relationship with Citi with a long-term agreement for Wipro to deliver TIS and domain - led ADM services to all Citi business segments.

Girish S. Paranjpe, Jt. CEO, IT Business and Member of the Board, Wipro said, "Citi has played a pioneering role in leveraging technology for banking. We are pleased that our domain expertise and infrastructure management capabilities positioned us as their partner of choice. This position has further strengthened with this strategic transaction. We are delighted to welcome the employees of Citi Technology Services into the Wipro family."

Don Callahan, Chief Administrative Officer, Citi said, "This sale was the result of a thorough process to ensure we were partnering with the right company for our businesses and our clients. Wipro, with its wide range of services, extensive experience and broad global presence can play a significant role in meeting Citi's objectives of productivity improvement, while our Citi Technology Services employees will join a larger information technology organization with additional third party growth opportunities. This transaction is consistent with our efforts to improve our operating leverage while we focus on our core banking competencies."

Marty Lippert, Chief Operations and Technology Officer, Citi said, "This partnership enables Citi to leverage Wipro's expertise in information technology services where we have significant plans for driving higher efficiencies by leveraging the Global Delivery Model."

Jagdish Rao, Global Technology Head, Citi, added, "Wipro brings the maturity of processes and skilled management to help us build upon the success we have had with Citi Technology Services in the Infrastructure Management space."

Soumitro Ghosh, Sr. Vice President, Finance Solutions, Wipro, said, "Citi Technology Services team's expertise in addressing the risk and compliance issues for banking industry positions us well to offer similar scale and complexity of services to other leading banks in US and Europe. We are confident that the skill sets we have acquired will enhance our capabilities to compete for more TIS business in the financial services industry in general and Citi in particular."

The transaction is expected to be closed by March 2009, subject to customary closing conditions and regulatory approvals.

About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE: WIT), is the first PCMM Level 5 and SEICMM Level 5 certified IT Services organization globally. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers.

Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, Information Systems outsourcing, package implementation, software application development and maintenance services to corporations globally.

In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India offering system integration, network integration, software solutions and IT services. Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com, http://www.wiprocorporate.com.

About Citigroup
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, Citi Financial, Primerica, Citi Smith Barney, Banamex and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.

Notes: Names of companies and products are trademarks or registered trademarks of the respective companies and organizations.

Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

For Immediate Release

Citigroup Inc. (NYSE: C)
November 20, 2008

Mark Robinson Appointed CEO of South Asia

Hong Kong/Mumbai: Mark Robinson has been appointed as the Chief Executive Officer of Citi South Asia. Based in Mumbai, he will lead Citi's significant banking franchise in India, Sri Lanka and Bangladesh and also join the Asia Pacific Executive Committee. Robinson succeeds Sanjay Nayar, who is leaving the firm to pursue other opportunities.

"We are fortunate to have Mark Robinson joining the team in Asia Pacific and our South Asia franchise will benefit greatly from his professionalism, leadership and acumen. Mark brings unique emerging markets expertise and knowledge to the role, as well as broad experience gained from working across our universal banking model as a frontline relationship manager, trader and senior manager, " said Ajay Banga, Asia Pacific Chief Executive Officer. "Sanjay has had a distinguished career at Citi as an international manager, having held senior positions in New York and London. He has made an immense contribution in establishing Citi as the leading financial services franchise in India and throughout South East Asia. We wish him the best in his future endeavours."

Robinson is a 24-year Citi veteran who has spent the majority of his career in emerging markets. He is currently the President of Citibank ZAO, Citi Country Officer for Russia and Division Head for Russia, Ukraine and Kazakhstan. Prior to this, he was Division Head for Turkey and Israel overseeing the institutional clients and consumer banking businesses. From 1997 to 2002, he was based in Hungary where, as Country Corporate Officer, he managed the integration of two acquisitions that expanded the Bank's local consumer and SME distribution network. Robinson joined Citi in 1984 and his first assignment was Pakistan. He has also worked in the US and Hong Kong.

"Citi has built an extensive franchise in India, Sri Lanka and Bangladesh and I look forward to working with the excellent team on the ground to continue our momentum and deliver the full power of our universal banking model to clients in the region," said Robinson.

Committed to India for more than 106 years, Citi is a premier, locally embedded financial institution backed by its global network across 100 countries. With approximately 10,000 employees and capital invested of over USD 3.1 billion, Citi is the single largest foreign direct investor in the financial services industry in India. Citi India offers a comprehensive suite of products and services to a client base of over 1,500 large corporates and multinationals, over 2,500 small- and medium-sized enterprises, over 40,000 asset-based financing clients and more than seven million retail customers.

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.

Tata Consultancy Services To Acquire Citigroup Global Services for $ 505 million

Transaction Increases Efficiencies for both Companies and Delivers Service Improvements for Citi Clients, $ 2.5 Billion, 9.5 Year Contract Underscores Strong Long-Standing Relationship

Mumbai, India & New York, USA, October 8, 2008: Tata Consultancy Services (TCS) (BSE: TCS.BO, NSE: TCS.NS), a leading IT services, business solutions and outsourcing firm and Citigroup Inc. (Citi) (NYSE: C), a leading global financial services company, today announced that they have reached an agreement for TCS to acquire all of Citi's interest in Citigroup Global Services Limited (CGSL), the India-based captive business processing outsourcing (BPO) arm of Citi for all cash consideration of approximately $ 505 million, subject to closing adjustments. In addition to the sale, Citi has signed an agreement for TCS to provide, through CGSL, process outsourcing services to Citi and its affiliates in an aggregate amount of USD 2.5 billion over a period of 9.5 years. The agreement builds upon the existing relationship between Citi and TCS whereby TCS provides application development, infrastructure support, help desk and other process outsourcing services to Citi.

The acquisition broadens TCS's portfolio of end-to-end IT and BPO services in the global Banking and Financial Services (BFS) sector. TCS's enhanced scale and expertise will provide service improvements to Citi and Citi's customers.

CGSL is one of the largest providers of business processing outsourcing services within the Banking and Financial Services sector, providing end-to-end process management across the BFS spectrum and a broad array of services to Citi's consumer, corporate and global wealth management businesses worldwide. CGSL has more than 12,000 employees located in India and expects to generate revenues of approximately $ 278 million in 2008.

S. Ramadorai, CEO and MD, TCS said, "This is a landmark acquisition for TCS, helping us not only acquire new capabilities in the banking domain but also underscoring the importance of our long-term, sustainable relationships with our large customers, including Citi." He added, "This transaction will complement our domain expertise and bring new capabilities to TCS that will help drive growth going forward."

Don Callahan, Chief Administrative Officer, Citi said, "This is a great transaction that benefits all parties - Citi, our customers, our employees and TCS. Our customers require access to increasingly complex processing solutions and this relationship will achieve a 'best-in-class' technology model that capitalises on both CGSL's expertise in financial services and TCS's expertise in process optimisation. TCS will offer CGSL stronger growth potential and superior continued services to Citi clients around the world. This transaction is expected to help reduce operating expenses related to business processing and will allow us to focus on our core financial services competencies."

N. Chandrasekaran, COO and Executive Director added, "The acquisition of CGSL has two immediate strategic benefits for TCS. It gives us the ability to offer a comprehensive end-to-end, domain-led solution for business operations of our large financial services institutions. It also positions us well to create platforms for the future and integrates our strong domain expertise in operations along with our suite of products for the financial services sector." He added, "We also welcome CGSL professionals into the TCS family, where they will have a bright future and will drive new growth opportunities for the company."

TCS has provided IT services to Citi since 1992 and is currently one of the largest IT services partners for Citi, delivering IT and business processing outsourcing services to Citi across its operations in North America, Europe, India, Japan, Singapore and the rest of Asia Pacific.

The parties expect to close the transaction in the fourth quarter of 2008.

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.

About TCS
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India's largest industrial conglomerate, TCS has over 116000 of the world's best trained IT consultants in 50 countries. The company generated consolidated revenues of USD 5.7 billion for fiscal year ended March 31, 2008 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
September 22, 2008

Ashish Bajaj Appointed as South Asia Head of Citi's Commercial Banking and Global Subsidiaries Business

Mumbai: Ashish Bajaj has been appointed as Head of Citi's Commercial Banking and Global Subsidiaries Business for South Asia. In this role, he will lead unified client coverage across Small and Mid-Market Enterprises and subsidiaries of global corporates in India, Bangladesh and Sri Lanka. Ashish will closely work with relevant product teams to oversee the coordination and delivery of all of Citi's relevant financial products and services into Citi's corporate and consumer bank client base.

Ashish will continue to report to Sanjay Nayar, CEO of South Asia. Additionally, he will report to Farhan Faruqui, Asia Pacific Head of Corporate and Commercial Banking.

"Our Commercial Banking Business in South Asia is very successful and we believe Ashish is the right person to build on that. There is tremendous opportunity in this space especially as customers look for sophisticated and global banking solutions", said Sanjay Nayar.

Ashish is a 21-year Citi veteran and has worked in several senior positions in New York, London and India. He has built up a wealth of experience in the Cash Management and Trade Businesses since he joined the Bank in 1987. From 2003, he has been heading Global Transaction Services (GTS) for South Asia and under his leadership, the GTS business has grown six-fold in as many years.

"Ashish's new role reflects the growing opportunities we see in helping our clients in South Asia expand into newer markets and tap new growth opportunities by offering them access to the full suite of Citi's capabilities", said Farhan Faruqui.

Citi has operated in India for more than 100 years and was the first bank to set up its Commercial Banking Business in 1998 as a dedicated strategic business unit focused on emerging local corporates. Today, Citi India has a SME balance sheet size of over USD 2 billion. The bank has over 22,000 clients and a pan-India footprint of 28 cities. The asset portfolio is concentrated on industries like chemicals and pharmaceuticals, automotive components and engineering goods, apparel, home furnishing, and leather goods (footwear and accessories).

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

For Immediate Release

Citigroup Inc. (NYSE: C)
May 23, 2008

Citibank Opens 40th Branch in India

Offers World Class Banking Service in Akola, Maharashtra

Mumbai: Citibank India, today, announced the opening of its 40th branch in India. Located in Akola, the 'Cotton Capital' of Maharashtra, the branch reinforces Citi's commitment towards fulfilling the national priority of financial inclusion and providing access to quality capital to all strata of society, especially those who have limited access to financial services.

Announcing the opening of the Akola branch, Sanjay Nayar, CEO, Citi India said, "Citi's commitment to India goes beyond business. We are committed to providing world-class financial products and services that help people improve their lives, businesses grow and communities prosper. The opening of the Akola branch, which is located in an under-banked area of the country, is a reinforcement of this commitment".

The Akola branch will be a full-service branch, where the entire range of relevant products and services - Savings Account, Term Deposits, Loans, Mortgages, Cards and Wealth Management Services - will be available to both individual and SME customers.

Speaking about the business potential in semi-urban and rural areas, Country Business Manager for Citi India's Global Consumer Group, N. Rajashekaran said, "While India is witnessing unprecedented levels of economic growth, two-thirds of our population is still unconnected to the formal banking and financial system. Citi believes we can add value and bring our customer-centric model to this segment of the population. Additionally, the Akola branch will help us establish a banking foothold in the natural resource-rich Vidharbha region of Maharashtra".

The Akola branch is the first of three new branches Citibank intends to open this year. The other two, in Nanded (Maharashtra) and Kurnool (Andhra Pradesh), will be launched by the third quarter of this year.

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. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
May 06, 2008

Citi India Appoints Sandeep Bhalla As Head Of Cards Business

Mumbai: Citi India's Global Consumer Group today announced the appointment of Sandeep Bhalla as Head of Credit Cards for Citibank India. A senior consumer financial services executive with a strong background in both consumer assets and retail businesses. Bhalla, who has been with Citi for 6 years, has worked in the US, in the Cards business and in Asia, across several consumer businesses. In his new role, he will report to P.S. Jayakumar, Country Business Manager, Global Consumer Group, Citi India.

"We have a strong and rapidly growing Cards business that has set the benchmark in India. Sandeep has the ideal mix of developed and emerging markets experience in our Cards business to build on that growth, expand our Cards footprint and drive innovation to improve on customer satisfaction", said Jayakumar.

Bhalla, 38, has a Masters degree in Mathematical Statistics from the University of Maine and an MBA from Drexel University.

Citibank pioneered the Credit Cards business in India and has one of the largest numbers of Credit Cards in use. Over the last 15 years, Citi has worked very closely with customers to understand their financial needs and lifestyle requirements. Today, Citibank offers the most comprehensive portfolio of best-in-class products that aim to provide customers with a "Card for every reason".

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.

For Immediate Release

Citigroup Inc. (NYSE: C)
April 09, 2008

Citi Adds To Indian Investment Banking Team

Mumbai, Hong Kong: Citi has hired Nalin Nayyar as a Managing Director in the bank's Indian investment banking team. This senior appointment underlines the opportunities for further growth in Citi's Indian investment banking franchise. Nalin will work closely with local and regional teams to identify local and global opportunities for Citi's Indian clients. He will be based in Mumbai and will report to Pramit Jhaveri, Citi's Head of Global Banking for India.

Nalin has worked for Lehman Brothers since 2000 and was a Mumbai-based Managing Director in the bank's Indian investment banking team. "Indian companies are increasingly pursuing growth internationally and are actively using the capital markets to support their expansion plans. The hiring of Nalin reflects the increasing opportunities we see to help our clients in India grow by giving them access to the full suite of Citi's local and global capabilities in the capital markets. Nalin has been involved on several groundbreaking and complex transactions across the region. We look forward to Nalin playing a leading role in growing and further developing our leading Indian investment banking franchise," said Pramit Jhaveri, Head of Global Banking for India.

Prior to joining Lehman Brothers, Nalin worked at Citi from 1992-2000, after graduating with a B.A. Economics from Middlebury College, Vermont. He also holds an MBA in Finance from UCLA.

Citi has operated in India for more than 100 years. It's investment banking franchise offers local and international capital market solutions in the debt and equity markets alongside a leading M & A advisory platform. Over the past 12 months, Citi has been voted the "Best Foreign Bank" and "Best Foreign Investment Bank in India" by the Asset Magazine and Finance Asia, "Best Equity House in India" by IFR Asia and "Best for FX Services in India" in the 2007 Asiamoney client poll.

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.

For Immediate Release

Citibank N.A.
June 24, 2009

Citibank India Reports Earnings for the Year Ended March 31, 2009

Mumbai: Citibank India branch announced today it has reported total revenues of Rs. 10423 crores for the year ended March 31, 2009, representing a 24% increase from Rs. 8410 crores for the same period last year. The growth in revenues was attributable both to higher interest income as well as significant growth in fee and trading income. At March 31, 2009, the balance sheet grew by 26% from Rs. 83851 crores to Rs. 105264 crores, reflecting continuing growth in customer lending activities.

Net profit after tax was Rs. 2173 crores for the period, representing a 20% increase from Rs. 1804 crores in the same period of last year. Despite industry-wide challenges in unsecured consumer credit impacting profitability of the Retail Banking segment, the increase in net income reflected strong growth in Corporate/Commercial Banking and Treasury.

In addition to Citibank with 40 branches in 28 locations in India, Citi operates several other legal vehicles, including mainly two large non-bank finance companies, two brokerage companies and two other companies undertaking capital markets activities. All of these vehicles remained profitable during the year, with the exception of CitiFinancial Consumer Finance India Limited, which was impacted by the challenges of deterioration in unsecured credit quality that affected the entire industry and, Citi Wealth Advisors Private Limited which is yet to reach full scale of operations.

Mark T. Robinson, CEO, Citi South Asia, said: "Notwithstanding the slowdown in the local economic environment arising from unprecedented turmoil in global markets, the strong performance of Citibank India branch underscores our strengths built up over 107 years operating in India. During the year we assisted many of our corporate customers to raise capital in the local market and, by using our global product expertise, to access international capital markets. Recognising the credit quality challenges we faced in our unsecured consumer loan portfolio, we were amongst the first in the industry to take corrective action and are pleased with our progress. Having spent 6 months in the country, I am impressed with the diversity and expanse of our franchise and excited by the possibility of developing it further in line with local market needs."

The Citi India franchise continued its track record of innovation and market-leading transactions during the year:

·Citi participated in several landmark deals, including the merger between Reliance Petroleum and Reliance Industries, the largest in Indian corporate history

·Citi arranged the commercial paper issuance by ONGC Videsh in what was the largest local currency commercial paper transaction to date

·Citi launched the country's first transit Credit Card, the Delhi Metro Citibank Card, which won the "Innovation in Service" OSCARD 2008 award

·Citi launched the Protect & Grow investment product which was the first such product in India to combine the safety of a fixed deposit with the potential for growth

In a nationwide survey of customers conducted by the Economic Times' Brand Equity, Citibank India was voted Best Foreign Bank Brand. Citibank India also won the Dun & Bradstreet and BusinessWorld awards for Best Foreign Bank in India. Euromoney, FinanceAsia and The Asset publications presented Citi with Best Investment Bank and Best Foreign Investment Bank in India awards. Citi Research was ranked number 1 by Institutional Investor.

Citi India's Corporate Citizenship program includes its Global Community Day, when more than 1600 employees rolled up their sleeves to volunteer. Citi also celebrated its fifth annual Citi Microentrepreneur Awards in Delhi, which honoured 10 self-made entrepreneurs that have empowered their communities through Microfinance.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
October 27, 2009

Citi names Richard Macfarlane as Head of Execution Services for India

Mumbai: Citi today announced it has appointed Richard Macfarlane as head of execution services for its India franchise. Based in Mumbai, Richard will jointly report to Citi India Head of Equities, Nikhil Nagle and Citi Asia Pacific Head of Execution Services, Paul Sanger.

In this newly created role, Richard will be responsible for the entire suite of equity and equity derivatives sales trading and trading platforms.

'Richard's appointment will help Citi further expand and strengthen our equities execution capabilities in the Indian market, especially with our offshore client base,' said Nikhil Nagle.

'With a career spanning over 20 years in a variety of roles within the equities business across Asia Pacific, Richard brings considerable experience to the team. His appointment further underlines Citi's commitment to grow our equities platform in the local market,' said Paul Sanger.

Citi Global Markets' equity franchise in India is widely recognised as one of the leaders in the market, picking up best India Equity House from Euromoney (2008) and IFR (2005-2007) respectively. Citi was also awarded best Foreign Investment Bank in India by Finance Asia this year. Citi is a leading underwriter of Indian equities, having led key IPOs and other equity offerings during 2009 that helped raise close to US$ 5bn for Indian issuers according to Dealogic data.

Richard joined Citi Global Markets India from HSBC Private Bank where he most recently ran its investment group based in Singapore. Prior to that, Richard spent ten years with UBS across different markets in Asia Pacific including Indonesia, Malaysia, Taiwan, Korea and Hong Kong before moving to London in early 2001 to run its European sales-trading.

Citi has been on a hiring spree recently across its equities business, adding key personnel across the region. Last week Citi named John Jacobson as Asia Pacific Head of Equity Sales after appointing Adrian Faure as Asia Pacific Head of Equity and Paul Sanger as Asia Pacific Head of Execution Services. Earlier this year Joseph Chang joined Citi as Asia Pacific Head of Equity Trading.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com.

For Immediate Release

Citigroup Inc. (NYSE: C)
February 26, 2009

Citi India Appoints Nikhil Nagle as Head of Equities

Mumbai: Citi has appointed Nikhil Nagle as the Head of the India Equities covering both Sales & Trading business. An experienced markets professional with a strong background in cash equities and derivatives, Nikhil returns to Mumbai from Hong Kong where he was leading Citi's South Asian trading desk and delivered very strong revenue growth over the years and across market cycles.

In his new role, Nikhil will report in the country into V. Srikanth, Head of Markets South Asia and regionally into Justin Kennedy, Head of Equities Asia Pacific.

Nikhil, an electrical engineer from VJTI, Mumbai and an MBA from the Jamnalal Bajaj Institute of Management Studies, has 14 years of relevant industry experience and has been with Citi since 2002.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides 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. Additional information may be found at www.citigroup.com or www.citi.com.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.44
UK Pound	1	Rs.70.61
Euro	1	Rs.58.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		67

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.