ADDING MULTIMEDIA Citi Supports Economic Recovery in Los Angeles Through Continued Investment in Skid Row Housing Trust Citi Presents $50,000 to Support Permanent Solution to End Homelessness

LOS ANGELES, Oct 29, 2009 (BUSINESS WIRE) -- Skid Row Housing Trust Executive Director Mike Alvidrez welcomes Citi Chief Executive Officer Vikram Pandit to the Trust's Abbey Apartments for a discussion about permanent supportive housing as an engine for economic recovery and growth in Los Angeles. Citi has been a financial partner with Skid Row Housing Trust for the past 20 years, during which time Citi has invested more than $60 million, producing 732 homes for formerly homeless men and women.

The Trust's permanent supportive housing model offers integrated, onsite healthcare services and mental health counseling rather than consigning residents to access this care through more expensive, less efficient emergency rooms and incarceration. A recent study by the United Way of Los Angeles suggests permanent supportive housing saves L.A. taxpayers $20,000 in public services per year for each formerly homeless person.

In addition, the Trust estimates that its most recent development, the New Carver Apartments, generated an estimated $7.08 million in local earnings and 146 new jobs through the building design and construction phases of development, as well as an estimated $2.13 million in local earnings and 37 new jobs in ongoing, annual local impacts. Permanent supportive housing not only restores lives and saves taxpayer dollars, but also creates jobs and stimulates local economies.

"We wholeheartedly welcome Mr. Pandit to the Abbey Apartments for a chance to experience firsthand how Citi's generous and consistent dedication to the Trust over the past 20 years has advanced our goal of ending chronic homelessness," said Skid Row Housing Trust Executive Director Mike Alvidrez. "The thousands of formerly homeless people helped by the Trust and Citi stand testament to the efficacy of the Trust's approach that not only offers homes, but also heals our city's most vulnerable citizens." "We are pleased to continue our support of Skid Row Housing Trust, which provides much-needed services and support to help people break the cycle of homelessness in Los Angeles," said Hal Kuykendall, a Managing Director for Citi Community Capital. "At Citi, we are committed to investing in and igniting economic recovery in local communities through supporting organizations that provide innovative solutions to our country's most difficult problems." Kuykendall added: "The Trust's ability to assess the needs of Los Angeles and to develop a comprehensive plan to assist those who need it most is why Citi has consistently supported Skid Row Housing Trust." Mr. Pandit, Mr. Alvidrez and L.A. Councilwoman Jan Perry will tour the Abbey Apartments and meet with residents later today.

The Trust seeks out, takes on and ameliorates homelessness for the most vulnerable men and women by providing stable homes and immediate, critical intervention and ongoing care that can mean the difference between life and death. This year marks the 20th anniversary of Skid Row Housing Trust and its mission to bring an end to chronic homelessness in Los Angeles. During the past 20 years, the Trust has reclaimed and developed 24 buildings, creating more than 1,400 permanent homes for homeless men and women.

About Skid Row Housing Trust Skid Row Housing Trust's philosophy is simple: Homes + Support = Success. The Trust develops, manages and operates permanent supportive housing for homeless men and women in Los Angeles. The Trust creates affordable apartments in buildings, which also provide a complete range of support services necessary to move beyond poverty, illness and addiction. For more information, please visit www.skidrow.org.

About Citi Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6086424&lang=en SOURCE: Citi CONTACT: Media Contacts: For Skid Row Housing Trust Roxana K. Janka, 917-683-2605 [e-mail] or For Citi Rob Julavits, 415-658-4310 Copyright Business Wire 2009 -0- KEYWORD: United States

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