Citibanking - Citibank Hong Kong

The promotion offer is valid from January 1 to March 31, 2012, both dates inclusive ("the Promotional Period").

Clients must use a Step-Up Interest Account for payroll deposit to be eligible to all promotion offers.

To enjoy the promotion offer under the promotional period, client must successfully open a Step-Up Interest Account and as the primary account holder during the promotional period and fulfill all other criteria below mentioned ("Eligible Client").

Citibanking client can enjoy minimum balance fee waiver as long as using Step-Up Interest Account for monthly payroll through autopay/standing instruction/check deposit. Citigold client must maintain "Average Daily Combined Balance" of HK$500,000 or above (with HK$30,000 or above monthly payroll). This offer is only applicable for the first year upon account opening and client needs to maintain Citigold minimum balance requirement afterwards. Service charges for certain products apply, please refer to the latest Service Fees booklet^.

Up to 0.8%p.a. preferential deposit interest rate will only apply to Step-Up Interest Account. All deposit rates are for reference only and are not guaranteed. Deposit rates will be subject to change from time to time without prior notice. For details, terms and conditions of Step-Up Interest Account, please refer to the leaflet of Step-Up Interest Account^.

Welcome offer for Citibank payroll account:

To be eligible for up to HK$1,500 rewards, client must enroll banking e-statement during account opening; and

Client must have first log-on to Citibank online banking within one month of account opening; and

Client must have monthly payroll deposit through autopay/standing instruction/check deposit in 3 consecutive monthly payroll deposit in 5 months upon account opening month, with HK$10,000 or above for autopay/standing instruction (as per client's declared basic salary) OR HK$30,000 or above for check deposit (as per client's declared basic salary) in the Step-Up Interest Account.

Rewards correspond to the relevant salary tiers and payroll deposit method:

	Monthly Salary	Autopay or Standing Instruction
Citibanking	HK$10,000 or above	HK$400 Credit Card Spending
Citibanking	HK$30,000 or above	HK$800 Credit Card Spending
Citigold	HK$30,000 or above*	HK$1,500 Credit Card Spending

* To be eligible for HK$1,000/HK$1,500 credit card spending, cilents are required to join Citigold, bring in new funds of HK$500,000 and with payroll of HK$30,000 or above. Upon completion of this offer for 1st year, the "Average Daily Combined Balance" of HK$1,000,000 for Citigold account will be applied.

If client has check deposit with HK$30,000 or above, Citibanking client is eligible to enjoy HK$200 credit card spending; Citigold client is eligible to enjoy HK$1,000 credit card spending*.

Rewards are calculated according to the actual monthly payroll deposited. Clients need to submit valid employment proof as stated in the leaflet. If the actual payroll deposited amount does not equal the client's declared basic salary or the actual monthly payroll deposited has differences, rewards are determined according to the client's declared salary or the actual payroll deposited, whichever is lower. Payroll deposit refers to basic salary only. Any commission, bonus, overtime allowance, double pay, reimbursement, and/or other payments made on top of the basic salary will be excluded from the calculation.

The above rewards are not applicable to client who has had a banking relationship with Citibank during the previous 12 months.

Rewards will be credited to each eligible client with the schedule as below:

Account opening date	3 consecutive monthly payroll deposit before	Rewards will be delivered/credited before
January 1 – January 31, 2012	May 31, 2012	June 30, 2012
February 1 – February 29, 2012	June 30, 2012	July 31, 2012
March 1 – March 31, 2012	July 31, 2012	August 31, 2012

Credit card spending will be paid in terms of Citibank credit card spending. The priority of card type for offering credit card spending to Citibanking clients will be Citibank Rewards card, Octopus Citibank credit card, and Citibank PremierMiles VISA. The priority of card type for offering credit card spending to Citigold clients will be Citibank PremierMiles VISA, Citibank Rewards card, and Octopus Citibank credit card. Customer is not allowed to choose card type for the credit card spending offer. If clients are not currently a holder of a Citibank Credit Card, they will require to apply a Citibank Credit Card and the credit card is subject to approval. The same value of cash rebate will be offered if client's card application is rejected or invalid without further notice. Cash rebate will be credited to client's Step-Up Interest Account.

Only those Eligible Clients whose relevant accounts are valid and in good standing during the entire promotion and redemption period will be eligible for the rewards. If the account status has changed, Citibank (Hong Kong) Limited reserves the right to terminate the Offers to the Eligible Client without prior notice.

Citibank payroll account Referral Program:

HK$800 credit card spending will be offered to the Referrer for each Referee who successfully becomes a new Citigold Citibank payroll account client during the Promotional Period, bring in new funds of HK$500,000 and has 3 consecutive monthly payroll deposit in 5 months upon account opening month, with HK$30,000 or above (as per client's declared basic salary). Credit card spending will be credited to client according to the referee's (new client) account opening date and requirement fulfillment date (please refers to clause 6g-6j).

For referee to be eligible for the welcome offer, referee must not have had a banking relationship with Citibank during the previous 12 months. Referrer must be existing banking client of Citibank. Referrer cannot refer himself/herself as a new client. Referrer's entitlement to the program offer will be subject to the bank's confirmation on the Referee's fulfillment of the program offer requirements. For each joint account, only one reward will be given to the referrer. If clients are not currently a holder of a Citibank Credit Card, they will require to apply a Citibank Credit Card and the credit card is subject to approval. The same value of cash rebate will be offered if client's card application is rejected or invalid without further notice. Cash rebate will be credited to client's Step-Up Interest Account.

The offer is only applicable to new stock/new securities Clients ("Clients") who have opened a new securities account with Citibank (Hong Kong) Limited (the "Bank") during the period from January 9 to March 31, 2012 (the "Promotion Period") and have not canceled or held any sole or joint securities account with the Bank within the past 12 months.

Clients can enjoy brokerage fee waiver for the BUY and SELL trades of Hong Kong and US stocks carried out via our Dedicated Trading Hotline, Internet Securities Services or Mobile Securities Services (where applicable) within the first 61 days of securities account opening. Initial Public Offering ("IPO") related transactions are not applicable.

Clients will enjoy brokerage fee waiver for buy and sell trades of Hong Kong and US stocks until the total cumulative regular brokerage fee reaches:

(i)

HK$1,500 for Citibanking clients:

(ii)

HK$3,000 for Citigold Private Clients & Citigold clients:
All subsequent transactions will be subject to regular brokerage fee (with minimum charge per transaction). Example: A Citigold client opened a new securities account on January 10, 2012 and conducted the following transactions during the period of January 10 to March 10, 2012 via online channel. The waived brokerage fee of HK$3,000 will be refunded to clients' settlement account linked to the securities account within 6 months of securities account opening.

Clients will still be charged non-brokerage fee items such as, but are not limited to, Stamp Duty, Transaction Levy and Trading Fee where applicable.

Clients are required to pay the regular brokerage fees at the time of trading. The waived brokerage fee will be refunded to clients' settlement account linked to the securities account within 6 months of securities account opening. Clients should maintain a valid securities account and settlement account at the time when the refund is made.

The Bank will credit the refund amount to clients' Hong Kong Dollar settlement account. If only a US Dollar settlement account is linked to the securities account, the refund amount will be credited to that account. Exchange rate of US$1 = HK$7.8 will be used for calculation.

Citibank Rewards Card: The promotion offer is valid until January 31, 2012. All welcome offers are only applicable for New Citibank Credit Card Clients. New Citibank Credit Card Clients are defined as Clients who do not currently hold and/or in the past 12 months have not been successfully approved for or have not cancelled any Principal Citibank Credit Card, Citibank Cobrand Card, Citibank Private Label Card issued by Citibank (Hong Kong) Limited or Diners Club Card issued by Diners Club International (HK) Limited ("Diners"). Spending requirements apply. For details, please refer to Welcome Offer Terms and Conditions.

10.

Terms and conditions apply for all the offers. For details, please refer to the related promotion materials.

11.

If a new client closes all of his/her accounts within 6 months from his/her account opening date, an account closure fee of HK$500 (or equivalent) will be charged.

All gift items are available on first-come-first-served basis while stocks last. All gift items cannot be redeemed for cash.

13.

The above offers cannot be used in conjunction with any other promotion offers.

14.

Citibank (Hong Kong) Limited shall not be responsible for any matters relating to the product or services provided. The respective companies are solely responsible for all obligations and liabilities in relation to such products or services.

15.

The above banking welcome offers are not applicable for U.S. persons, except deposit interest rate.

16.

Citibank (Hong Kong) Limited reserves the right to amend any of these terms and conditions without prior notice. All matters and disputes will be subject to the final decision of Citibank.

17.

In the event of discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.

Disclaimers: You should seek advice from your professional advisors as to your particular tax position, including but not limited to estate duty and withholding tax that might arise from investing in overseas products. This material is for information purpose only and does not constitute any offer or solicitation or advice to buy or sell any security. Investments are not bank deposits and are not obligations of, guaranteed or insured by Citibank (Hong Kong) Limited, Citibank, N.A., Citigroup Inc. or any of its affiliates or subsidiaries, or by any local government or insurance agency, and involve risks, including the possible loss of the principal amount invested. Share prices may go down as well as up. Investment products are not available for U.S. persons and might only be applicable to limited jurisdiction. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment.

^ You may visit Citibank website (www.citibank.com.hk)/any branch or 24-hour Citiphone Hotline at 2860 0333 to obtain the latest copy.