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Five Finance Corp. (61PL)

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Friday 14 December, 2007

Five Finance Corp.

Press Release

Five Finance Corporation
14 December 2007

For Immediate Release Citigroup Inc. (NYSE: C) December 13, 2007

              Citi Commits Support Facility for Citi-Advised SIVs

NEW YORK - Citi announced today that it has committed to provide a support
facility that will resolve uncertainties regarding senior debt repayment
currently facing the Citi-advised Structured Investment Vehicles ('SIVs').

This action is a response to the recently announced ratings review for possible
downgrade by Moody's and S&P of the outstanding senior debt of the SIVs, and the
continued reduction of liquidity in the SIV related asset-backed commercial
paper and medium-term note markets. These markets are the traditional funding
sources for the SIVs. Citi's actions today are designed to support the current
ratings of the SIVs' senior debt and to allow the SIVs to continue to pursue
their current orderly asset reduction plan. As a result of this commitment, Citi
will consolidate the SIVs' assets and liabilities onto its balance sheet under
applicable accounting rules.

Several key factors further contributed to Citi's decision to make this
commitment:

      The SIVs continue to successfully pursue alternative funding strategies,
primarily asset reductions, to meet maturing debt obligations. The SIV assets
(net of cash and cash equivalents) have been reduced from $87 billion in August
2007 to $49 billion currently, while maintaining the overall high credit quality
of the portfolio.  Citi expects orderly asset reductions will be sufficient to
meet liquidity requirements through the end of 2008, which currently total $35
billion.  Consequently, Citi expects little or no funding requirement from the
facility.

      As assets continue to be sold, Citi's risk exposure, and the capital ratio
impact from consolidation, will be reduced accordingly.

      Given the high credit quality of the SIV assets, Citi's credit exposure
under its commitment is substantially limited. Approximately 54% of the SIV
assets are rated triple-A and 43% double-A by Moody's, with no direct exposure
to sub-prime assets and immaterial indirect sub-prime exposure of $51 million. 
In addition, the junior notes, which have a current market value of $2.5
billion, are in the first loss position.

      Taking into account this commitment, Citi still expects to return to its
targeted capital ratios by the end of the second quarter of 2008.  Based on
September 30, 2007 capital ratio disclosures and applying the current asset
levels in the SIVs, the estimated impact of this action would have been
approximately 16 basis point decline in the Tier 1 capital ratio and
approximately 12 basis point decline in the TCE/RWMA ratio.


'Our team has made great progress managing the SIVs in a very difficult
environment. After considering a full range of funding options, this commitment
is the best outcome for Citi and the SIVs,' said Vikram Pandit, Citi's Chief
Executive Officer.

The terms of this committed facility will be finalized in early 2008 and will
reflect market terms.

The commitment is independent of the 'Master Liquidity Enhancement Conduit' ('
M-LEC'). Citi continues to support the formation of the M-LEC, which is an
initiative that involves Citi and other financial institutions.

Attached are additional fact sheets regarding the SIVs and the committed support
facility.

                                      ###

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

Certain statements in this document are 'forward-looking statements' within the
meaning of the Private Securities Litigation Reform Act. These statements are
based on management's current expectations and are subject to uncertainty and
changes in circumstances. Actual results may differ materially from those
included in these statements due to a variety of factors. More information about
these factors is contained in Citigroup's filings with the Securities and
Exchange Commission.

Media Contacts: Christina Pretto (212) 559-9560

                                             Michael Hanretta (212) 559-9466
                                             Shannon Bell (212) 793-6206

Investors:   Arthur Tildesley (212) 559-2718

Fixed Income Investors: Maurice Raichelson (212) 559-5091




                   ADDITIONAL FACTS ON THE CITI-ADVISED SIVs


       Profile of the SIV assets and liabilities as of December 12, 2007:
Average Credit Quality (1,2)
                                          Average Asset Mix           Aaa           Aa              A
Financial Institutions Debt                      60%                  14%           43%            3%
Sovereign Debt                                   1%                    1%
Structured Finance:
   MBS - Non-U.S. residential                     12%                 12%
   CBOs, CLOs, CDOs                                6                   6
   MBS - U.S. residential                          7                   7
CMBS                                               3                   3
   Student loans                                   5                   5
   Credit cards                                    5                   5
Other                                              1                   1
Total Structured Finance                          39%                 39%
Total Assets                                      100%                54%           43%            3%
•     The weighted average maturity of the assets is 3.7 years



   (1) Based on Moody's ratings.

   (2) The SIVs have no direct exposure to U.S. sub-prime assets and have 
approximately $51 million of indirect exposure to sub-prime assets through CDOs 
which are AAA rated and carry credit enhancements.


Amount                                                     Average Rating          Average Maturity
Outstanding
Commercial Paper                       $10B                   A-1+/P-1                2.4 months
Medium Term Notes                       48B                    AAA/Aaa               10.1 months



OTHER INFORMATION

      Through asset reductions, the SIVs have partially repaid the previously
disclosed $10 billion commitment to purchase commercial paper. As a result, Citi
now holds $7.2 billion of commercial paper issued by the SIVs as of December 12,
2007. Citi expects the SIVs to fully repay the commercial paper at or before the
last maturity date in mid-March 2008.  Following the final maturity date, the
new facility is expected to be the sole commitment by Citi to the SIVs.

      The Citi-advised SIVs are: Beta, Centauri, Dorada, Five, Sedna, Vetra and
Zela.





                   ADDITIONAL FACTS ON THE COMMITTED SUPPORT
                                    FACILITY


FINANCIAL AND ACCOUNTING IMPACT

•     From an accounting perspective:

-Upon consolidation and on an ongoing basis, the SIV assets and liabilities will
be accounted for at fair value.

-Any losses resulting from changes in the market values of the assets and
liabilities are first borne by the junior note holders up to the value of their
investments, which had a market value of $2.5 billion on December 12, 2007.

-     The total value of the assets and liabilities on December 12, 2007, were
each $62 billion, which includes cash and cash equivalents of $13 billion in the
assets and the $2.5 billion of junior notes in the liabilities.

•     From an economic perspective:

-The size and terms of the facility will be determined in early 2008 and will
reflect market terms.

-     The size of the facility will vary through the life of the facility and
will depend on a number of factors, including the SIVs' repayment of maturing
debt obligations.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                

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