Year-round 15% bus fare rebate now applies to buses in Kowloon, the New Territories and on the Hong Kong Island

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HONG KONG, CHINA
-�Media OutReach�- 22 January 2019�-�Citigroup Inc. (NYSE: C) - Citi, together with Citybus
Limited and New World First Bus Services Limited announced today a newly-formed
partnership to expand the bus fare rebate program exclusively for Citi Octopus Platinum
cardholders.

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Passengers commuting on buses operated
by Citybus and New World First Bus can now earn a year-round 15% rebate on bus fare
with a Citi
Octopus Platinum card, in
addition to the existing arrangement with Kowloon Bus Company (1933) Limited and Long Win
Bus Company Limited.

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The first-of-its-kind bus fare rebate program
was first introduced in 2017, which has since attracted over one-third of Citi
Octopus Platinum cardholders who are also regular bus riders to register.� In June 2018, the year-round rebate was
increased from the original 10% to 15%, enabling eligible Citi customers to earn
as much as HK$300 worth of bus fare rebate in the form of Octopus Cash each month.

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Commenting
on the enhanced customer program, Lawrence Li, Head of Cards and
Unsecured Lending at Citibank Hong Kong, said, "We are excited to be able to partner
with Citybus and New World First Bus to further extend this popular credit card
offer to cover the bus routes in Kowloon, the New Territories, and on the Hong
Kong Island.� With the Citi Octopus
Platinum card, not only can customers conveniently pay for their bus fare, they
can even earn cash rebates from their daily commute."

William Chung, Head of Operations of Citybus and
New World First Bus, said, "We are glad to collaborate with Citi to reduce the
burden of our passengers on transport expenses.�
The expanded Citi bus fare rebate program will certainly benefit many of
our passengers".

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The 15% bus fare
rebate will be in the form of Octopus Cash Rebate and can be used for
offsetting Octopus Automatic Add Value Service (AAVS) transactions. The ongoing
Citi Octopus Credit Card benefit of earning HK$1 Octopus Cash Rebate for every
HK$200 spending will continue to apply.�
Thus, Citi Octopus Platinum Cardholders will be able to earn an extra
15% Octopus Cash Rebate from the eligible bus transactions between now and
December 31, 2019.

To earn a 15% Octopus Cash
Rebate from Octopus transactions on buses run by the participating bus
operators, existing and new Citi Octopus Platinum Cardholders who have not
previously registered are required to enrol once on www.citibank.com.hk/bus and
meet a minimum of HK$1,500 eligible spending each month. Existing registrants
will be automatically enrolled to the new program. �The bus fare rebate is capped at HK$300 per
month. Terms and conditions apply, please visit www.citibank.com.hk/octopus
for more details.

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About Citi

Citi,
the leading global bank, has approximately 200 million customer accounts and
does business in more than 160 countries and jurisdictions. 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.�

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Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi|
Blog: http://blog.citigroup.com
| Facebook: www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi

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About New World First Bus and Citybus

NWFB and Citybus are wholly owned by NWS Holdings Limited.
NWS Holdings Limited ("NWS Holdings", Hong Kong stock code: 659) is the
infrastructure and service flagship of New
World Development Company Limited (Hong Kong stock code: 17). It has
diverse businesses and investments predominantly in Hong Kong and Mainland
China, comprising toll roads, environmental management, port and logistics
facilities, rail container terminals, commercial aircraft leasing, facilities
management, healthcare services, construction and public transport. Please
visit www.nws.com.hk
for details.