The Islamic Development Bank (IsDB) intends to access
the international capital and Islamic finance markets
through a debut 'Sukuk' issue.

Dubai, UAE 
The IsDB has mandated Citigroup to act as a Lead
Manager and Citi Islamic Investment Bank (E.C.),
Citigroup's dedicated Islamic Banking vehicle, will
perform the role of Structuring Advisor for the issue.

IsDB also intends to obtain international credit
ratings from Moody's Investors Service, Standard &
Poor's and Fitch Ratings. Citigroup has been retained
as IsDB's Ratings Advisor for the process. 

IsDB, which was established by Articles of Agreement
in October 1975, is the premier multilateral financial
institution of the Muslim world. The purpose of IsDB
is to foster the economic development and social
progress of Member Countries and Muslim communities,
individually as well as jointly, in accordance with
the principles of the Shariah, i.e. Islamic Law. The
present membership of IsDB consists of 54 countries. 

By a Resolution of the Board of Governors adopted in
October 2001, the subscribed capital of the IsDB has
been increased from Islamic Dinars 4.1 billion (US$
5.19 billion) to Islamic Dinars 8.1 billion (US$10.26
billion). IsDB's cumulative project approvals since
its inception amount to more than Islamic Dinars 18.2
billion (approximately US$ 23.05 billion). 

IsDB is headquartered in Jeddah, Saudi Arabia, with
regional offices in Rabat, Morocco, Kuala Lumpur,
Malaysia, and Almaty in Kazakhstan. Additional
information may be found at 

Citi Islamic Investment Bank E.C. (?CIIB') was
incorporated in July 1996 in Bahrain, as a 100 per
cent owned subsidiary of Citigroup. CIIB operates as
the dedicated Islamic Banking vehicle of Citigroup and
is continuing the pioneering and innovative role that
Ciricorp has been playing in the industry for almost
20 years, through Islamic Finance windows within
Citibank. Additional information may be found at 

Citigroup (NYSE:C), the pre-eminent global financial
services company with some 200 million customer
accounts in more than 100 countries, provides
consumers, corporations, governments and institutions
with a broad range of financial products and services,
including consumer banking and credit, corporate and
investment banking, insurance, securities brokerage,
and asset management. Major brand names under
Citigroup's trademark red umbrella include Citibank,
CitiFinancial, Primerica, Salomon Smith Barney,
Banamex and Travelers. Additional information may be
found at:

For more information, please contact:
Stephen Worsley/Rami Halawani
TEAM/Young & Rubicam
Tel: (+9714) 3344404
Fax: (+9714) 3344410
Arup Mukhopadhyay
Citibank, Dubai, UAE
Tel: (+9714) 5095442
Fax: (+9714) 3556727


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