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This excerpt taken from the C 10-K filed Feb 22, 2008. Strategic Investment and Cooperation Agreement with Guangdong Development Bank In 2006, a Citigroup-led consortium acquired an 85.6% stake in Guangdong Development Bank (“GDB”). Citigroup’s share is 20% of GDB and its investment of approximately $725 million is accounted for under the equity method of accounting. This excerpt taken from the C 10-Q filed May 4, 2007. Strategic Investment and Cooperation Agreement with Guangdong Development Bank On December 17, 2006, a Citigroup-led consortium acquired an 85.6% stake in Guangdong Development Bank ("GDB"). Citigroup's share is 20% of GDB and its investment of approximately $725 million is accounted for under the equity method. In accordance with the parties' agreement, Citigroup will have significant management influence at GDB to enhance GDB's management team and corporate governance standards, instill operational and lending best practices, improve risk management and internal controls, upgrade GDB's information technology infrastructure, and further develop GDB's customer service and product offerings. These excerpts taken from the C 10-K filed Feb 23, 2007. Strategic Investment and Cooperation Agreement with Guangdong Development Bank On December 17, 2006, a Citigroup-led consortium acquired an 85.6% stake in Guangdong Development Bank (“GDB”). Citigroup’s share is 20% of GDB and its investment of approximately $725 million will be accounted for under the equity method. In accordance with the parties’ agreement, Citigroup will have significant management influence at GDB to enhance GDB’s management team and corporate governance standards, instill operational and lending best practices, improve risk management and internal controls, upgrade GDB’s information technology infrastructure, and further develop GDB’s customer service and product offerings. Strategic Investment and Cooperation Agreement with Guangdong Development Bank On December 19, 2006, a Citigroup-led consortium acquired an 85.6% stake in Guangdong Development Bank (GDB). Citigroup’s share is 20% of GDB and its investment of approximately $725 million will be accounted for under the equity method. In accordance with the parties’ agreement, Citigroup will have significant management influence at GDB to enhance GDB’s management team and corporate governance standards, instill operational and lending best practices, improve risk management and internal controls, upgrade GDB’s information technology infrastructure, and further develop GDB’s customer service and product offerings. | EXCERPTS ON THIS PAGE:
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