Moody’s assigns Prime-1 ratings to Citibank N.A. (Sydney Branch)’s US$1bln

Sydney, July 03, 2009 -- Moody's Investors Service has assigned Prime-1 
ratings to Citibank N.A. (Sydney Branch)'s US$1billion Commercial Paper 
and Certificate of Deposit programme.

The programme may issue either commercial paper or certificates of deposit 
in AUD, USD, EUR, JPY, SGD and HKD. The securities are direct, 
unsubordinated and unsecured obligations of the issuer and may have 
maturities of 1-365 days (in the case of registered securities, issued 
only in Australia) or 1-183 days (in the case of bearer securities, 
issued outside of Australia and the US only).

Moody's last rating action was on 27 February 2009 when it lowered 
Citibank N.A. (Sydney Branch)'s senior unsecured MTN rating to A1 from 
Aa3, in line with a similar rating action on Citibank N.A.

The principal methodologies used in rating this issuer were "Bank 
Financial Strength Ratings: Global Methodology" (February 2007) and 
"Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A 
Refined Methodology" (March 2007), which can be found at www.moodys.com
in the Credit Policy & Methodologies directory, in the Ratings
Methodologies subdirectory. Other methodologies and factors that may 
have been considered in the process of rating this issuer can also be 
found in the Credit Policy & Methodologies directory.

Citibank N.A. (Sydney Branch) is headquartered in Sydney, New South 
Wales, Australia, and is a foreign branch of Citibank N.A. headquartered 
in New York City, United States of America.