CITIBANK AND CABLE & WIRELESS OPTUS - BANKING ON A WINNING TEAM

Two global leaders, Citibank and Cable & Wireless Optus, announced today that they will be joining forces to offer Australian customers an integrated product offering. The two companies have agreed to offer Citibank customers a special internet package when Citibank launches CitiDirect, its online banking facility, to customers next month.

In January, Citibank announced an aggressive expansion of its retail operation in Australia, including internet banking and new alliances.

Citibank Region Head for Asia Pacific Consumer Bank, Mr Simon Williams, said "That is what this marketing initiative is about. Through internet banking, a new business alliance and our heritage of developing added value products and services, we are able to increase the value offered to our customers.

"We believe that the future is about bringing banking to the customer rather than the customer coming to the bank. An important component of that remote distribution channel for our customers is online banking.

"Citibank is offering customers a new distribution channel which can be accessed through their PC, from work, home or wherever they are. We are bringing banking to the customer through CitiDirect. Cable & Wireless Optus is offering customers a value added internet package. Due to this initiative, together we can provide customers integrated access to CitiDirect.

Citibank customers who sign up with Cable & Wireless Optus as their internet provider will be entitled to a special package which includes a free Optus Internet Family Starter CD. For as little as $10 to get access, customers become entitled to 50 bonus internet hours during the first month. 5,000 free copies of BookM@arker are also being given in a draw to customers who trial CitiDirect.*

In addition, customers have the ability to personalise their homepage and can access the Optus Internet home page dedicated to their Citibank Online banking service to ensure easy and convenient access to online accounts.

Mr Paul Donovan, Chief Commercial Officer for Cable & Wireless Optus said alliance partnerships as a means of doing business is a focus for the company.

"The Enterprise arm of Cable & Wireless Optus serves Australia's largest organisations and we like to work closely with our customers to develop unique solutions to harness the strengths of both organisations," Mr Donovan said.

"Cable & Wireless Optus is now redefining the customer. Not only do we work with organisations, but we enable their customers. The services we offer now extend our reach to our customers' customer. Via today's deal, we are empowering Citibank to add value to their customers."

Cable & Wireless Optus is Citibank's preferred supplier in Australia and the two companies enjoy a strong relationship around the world. Cable and Wireless through its companies in the UK (CWC), Hong Kong (HKT) and USA (C&W USA) supplies a wide range of telecom services to Citigroup.

The Citibank website is located at: www.citibank.com.au

*Terms and conditions apply

For further information, please contact:
Julie Webster
Citibank Head of Marketing Services
Phone: 02 9239 4718

Kyra Stempel
Citibank Public Relations Manager
Phone: 02 9239 9158

Melissa Favero
Cable & Wireless Optus Public Relations Manager
Phone: 02 9342 5030