As announced earlier today, Citibank Brazil said that it will increase its ownership stake in Credicard, Brazil's leading credit card company, from 33 percent to 50 percent, further demonstrating Citigroup's commitment to and confidence in Brazil and enhancing its leading international credit cards position.

Since its inception more than 30 years ago, the Credicard Group, a joint venture between Banco Itau (Itau), Citibank Brazil (Citibank), and Unibanco, has come to be recognized throughout Brazil for its market leadership, innovative products, excellent service and the strength of its commitment to its customers.