Citigroup Awards for Excellence in Journalism Anno

For immediate release Citigroup Inc.

Citigroup Awards for Excellence in Journalism Announced

Sydney, May 4, 2004 - Journalist Marion Williams has taken out the prestigious Citigroup Australasia Awards for Excellence in Journalism with her article 'Who Needs Government Securities Anyway?' published in CFO Magazine, April 2003.

The tightly contested win in the Citigroup Awards for Excellence in Journalism came from a wide field of entries from Australia and New Zealand media in four categories of financial and business reporting - general business, the economy, personal finance and financial markets.

Citigroup Australasia chief executive officer, Ahmed Fahour, said the high calibre of entries from a diverse range of media outlets across the two countries reflects the increased importance placed on financial and business reporting.

"Every year of their 12-year history in Australia, and two years in New Zealand, the awards have grown in breadth and quality and every year the judging has become more challenging",Mr Fahour said.

Speaking at the Citigroup awards ceremony in Sydney, Mr Fahour said the category winners underscored a diverse media striving for, and achieving excellence:

- Hannah Sperber, North & South Magazine
- Garth Cooper - New Zealander of the Year General Business –
- Alan Deans, The Bulletin Wreck and Ruin: The Superannuation Debacle - Personal Finance - Gilbert Wong, Metro Magazine Bad Odds“ The Economy - Marion Williams, CFO Magazine Who needs government securities anyway? Financial Markets

Mr Fahour said the common threads across all four category winners was rigorous analysis, well argued and balanced reporting and exceptional use of data or case studies.

Thanking the panel of eight judges all business and community leaders - for their contribution to the Citigroup Awards for Excellence in Journalism, Mr Fahour noted: “The key to the award is its independence and impartiality.

This year's judging panel included: Julie Dill, managing director Asia Pacific, Duke Energy Jane Diplock AO, chairman, New Zealand Securities Commission Nick Falloon, chairman, Network Ten David Gonski AO, Investec Wentworth Pty Ltd Diane Grady, director Simon Longstaff, executive director, St James Ethics Centre Dick Warburton, director Peter Yates, chief executive officer, Publishing & Broadcasting Limited

Ms Williams, selected as the overall winner, joins media from around the world on a 10-day business and financial seminar in the US administered by Columbia Graduate School of Journalism under Citigroup auspices.

At the seminar Ms Williams will participate in sessions with leading Columbia University faculty members, engage in discussions with senior academics and policy makers, and visit key financial institutions and US Government departments.

The Citigroup Journalism Awards for Excellence is a global program launched in the US in 1982 to recognise meritorious business reporting in many of the markets around the world in which Citigroup does business.

In 1992 Asia-Pacific journalists joined the program as part of the 90th anniversary celebrations in Asia. The program was extended to include New Zealand journalists in 2003.

ENDS

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