Citibank, in Partnership with MetLife, Becomes the First Foreign Bank in Beijing to Sell Investment Linked Insurance

Citibank, in Partnership with MetLife, Becomes the First Foreign Bank in Beijing to Sell Investment Linked Insurance

June 21, 2007

    BEIJING, June 21 /Xinhua-PRNewswire/ -- Citibank
(China) Co., Ltd. ("Citibank") and Sino-U.S.
MetLife Insurance Company Limited today announced the
launch of a new insurance offering in Beijing, the Wealth
Selected Protection Plan (B).  The new offering has been
designed specifically to meet the needs of Citibank's
customers.  The launch sees Citibank become the first
foreign bank to sell investment unit-linked insurance in
Beijing. 

    (Photo: http://www.xprn.com.cn/xprn/sa/200706211755.jpg
)

    Mr. Anand Selvakesari, Executive Vice President of
Citibank (China) Co., Ltd., said, "Citibank is
delighted to be the first foreign bank in Beijing to sell
investment linked insurance from Sino-U.S. MetLife.  We aim
to ultimately look after all the wealth management needs of
our customers over their entire life cycle, and we view the
launch of Wealth Selected Protection Plan (B) as an
important one that provides our customers in China with a
new investment option."

    Mr. Brent Bell, General Manager of Sino-U.S. MetLife,
noted, "The Bank insurance business in China is an
emerging area with a very promising future. Sino-U.S.
MetLife is pleased to be partnering closely with Citibank
to provide life insurance products to Citibank's customers.
 Leveraging from MetLife's nearly 140-year history, and
experience in serving nearly 70 million customers
worldwide, Sino-U.S. MetLife is committed to providing
superior customized protection and investment products to
Citibank's customers."

    The Wealth Selected Protection Plan (B) is comprised of
funds solutions from fund management companies selected by
Sino-U.S. MetLife, following a rigorous selection process. 
The product is designed to act as an investment vehicle,
allowing customers to invest capital while enjoying
financial protection.  

    Customers can either choose or build a portfolio on
their own from 3 baskets of funds, namely "Money
Market", "Balanced" and "Equity",
depending on their investment horizon and risk appetite. 
The product requires a minimum subscription of 100,000
Renminbi.  Features of the new offering include:

    -- Protection in the event of accidental disability. If
the customer is 
       disabled in an accident listed in the contract, he
or she will be 
       provided with a 10-year annual accidental
dismemberment income benefit. 

    -- The provision of three different investment account
options, allows 
       customers to choose their favored investment
solutions according to 
       their risk appetite.  Customers can also add
investment value or 
       withdraw cash out of their account value without
surrendering the 
       policy at anytime and switch funds to explore
investment opportunities.  
       MetLife will evaluate the investment account value
everyday and 
       announce the unit price of every investment account.
 Customers can 
       find out their wealth information through a service
hotline. 

    -- Sino-U.S. MetLife will provide a short message
service for Citibank's 
       customers to inform them of their account
information when there are 
       any changes to their account.

    The Wealth Selected Protection Plan (B) was launched in
China after extensive development and preparation.  The
offering is unique to Citibank, and was tailor-made to meet
the needs of Citibank's customers.  It is available to
Chinese nationals too since Citibank Beijing has received
regulatory approval to offer local currency services to
local residents.

    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 and Banamex.  Additional information may be found at
http://www.citigroup.com or http://www.citi.com . 

    About Citi China 

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

    About Sino-U.S. MetLife

    Sino-US MetLife Insurance Company (MetLife) is an
affiliate of MetLife, Inc. and Capital Airport Holding
Company (CAHC) which was incorporated as a joint venture
between Metropolitan Life Insurance Company and Capital
Airport Holding Company (CAHC). MetLife, Inc. is a leading
provider of insurance and financial services with
operations throughout the United States, Latin America,
Europe, and the Asia Pacific region.  Through its
affiliates, MetLife, Inc. reaches more than 70 million
customers around the world, is the largest life insurer in
the United States (based on life insurance in-force) with
over 138 years of experience, and serves more than
two-thirds of the FORTUNE 500R(R) companies.  The MetLife
companies offer life insurance, annuities, automobile and
home insurance, retail banking and other financial services
to individuals, as well as group insurance, reinsurance and
retirement and savings products and services to
corporations and other institutions.  The business scope of
CAHC, a company with the management of assets over 100
billion, includes management and construction of airports,
investment and funding, hotel, travel and financial
services.  CAHC owns Capital Airport, a gateway airport of
China. MetLife offers life, accident and health solutions
in China through a career agency distribution system and
other distribution channels.  For more information about
MetLife, please visit the company's web site at
http://www.metlife.com.cn .

    (Footnote)

    FORTUNE 500(R), April 2007.  FORTUNE 500(R) is a
registered trademark of FORTUNE(R) magazine, a division of
Time, Inc.

    MetLife is the #1 life insurer in the U.S., based on
premiums as of Q3 2006, LIMRA International, Inc., November
2006.


    For more information, please contact:

    Citi
     Stephen Thomas
     Tel:   [phone]
     Email: [e-mail]

    Sino-U.S. MetLife
     Meggie Wei
     Tel:   [phone] x5619
     Email: [e-mail]