Jet Airways Citibank Silver Credit Card launched

Company press release, November 26, 2003

Mumbai

Every cloud has a silver lining! And these definitely did, as Citibank, the world's largest credit card issuer and Jet Airways, India's leading airline yesterday launched the 'Jet Airways Citibank Silver Credit Card' in mid air at a height of 30,000 feet above the sea level, in association with MasterCard International.

The 'Jet Airways Citibank Silver Credit Card', the first credit card to be launched mid air, was unveiled by Jet Airways Chief Executive Officer Mr. Wolfgang Prock-Schauer and Mr. Sarvesh Sarup, Consumer Bank Head Citibank India. The launch was followed by a breathtaking ESP & mind show by Deepak Rao.

Speaking on the occasion, Mr. Wolfgang Prock-Schauer, CEO, Jet Airways, said: "Our relationship with Citibank began with the launch of the Jet Airways Citibank Gold Credit Card and it's a pleasure to create a new landmark, by launching the Jet Airways Citibank Silver Credit Card mid air. We believe continuous innovation and value additions to our product will be the key differentiator in this competitive marketplace. This new initiative is yet another commitment in that direction."

Mr. Sarvesh Sarup, Consumer Bank Head, Citibank India, said: "The launch of the Jet Airways Citibank Silver Credit Card ushers in yet another advantage for our customers. Now with this card they can keep earning JPMiles even through their regular spends besides flying on Jet Airways thereby enjoy the rewards of flying free throughout the world by redeeming their JPMiles. I am happy to further cement our relationship with Jet Airways with the launch of this card."

Mr. Nitin Gupta, Country Manager, Master Card International, said, "We are pleased to partner with Jet Airways and Citibank on this yet another pioneering co-branded card initiative. MasterCard International introduced the concept of co-branded cards globally and is the preferred partner for leading co-branded card programmes in India, providing access to MasterCard's unparalleled global acceptance network."

The income eligibility of the card is a minimum of Rs. 72,000/- for the salaried and Rs. 96,000/- for self-employed. The card has no joining fee and comes with an annual fee of Rs. 900/-. As an introductory offer, the card will be available at an annual fee of Rs.750/- with 1500 Bonus JPMiles credited to the customers JP account on activation of the card through any purchase spend.

As a Jet Airways Citibank Silver card member, customers will be automatically enrolled in the Jet Privilege programme (if he is not already an existing member) and will be able to combine the JPMiles earned on the card with their existing Jet Privilege membership account.

The 'Jet Airways Citibank Silver Card', has several benefits with the added benefit of earning 2 bonus JPMiles on every Rs.100/- spent on the card, which can be earned while paying for hotel bills, car rentals, meals at restaurants or plain shopping

The card value is enhanced through special features like complimentary personal accident insurance, a comprehensive travel insurance package, CitiAlert, Tele Optima, Paylite Special Offers and Citibank Online amongst others.

Further the JPMiles earned can be exchanged for free flights on Jet Airways or on Jet Airway's international partner airlines namely British Airways, KLM Royal Dutch Airlines and Northwest Airlines.

The card provides its members a comprehensive travel Insurance like Rs. 15 Lac for Air Accident Cover; a General Accident Cover of Rs. 1 Lac; Baggage Insurance of Rs. 10,000/-; Passport Loss Insurance of Rs 10,000; Ticket Loss Insurance of Rs 2000; Delayed Baggage Insurance of Rs. 5,000 overseas and Rs. 2,000 for domestic travel. Infact the Jet Airways Citibank Silver Card will be the only Silver card in India that has a comprehensive travel insurance package built into the card benefits.

Last but not the least, the Jet Airways Citibank Silver Card can be used to purchase products and services from over 16 million merchant establishments in more than 120 countries, with over 110,000 in India and Nepal. It is also accepted at 400,000 Cirrus/Maestro ATMs worldwide.

So get set with Jet Airways to earn miles the Citibank way!

About Jet Airways

Within a short span of just over ten years since its inception in May 1993, Jet Airways has established its position as a market leader in India in product, service, quality and facilities offered to passengers by providing the finest flying experience. The Airline has had the distinction of being repeatedly adjudged as India's 'Best Domestic Airline' and has won several national & international awards. Jet Airways' current fleet with an average aircraft age of 3.5 years consists of 32 B737 new and next-generation aircraft and 8 modern turbo-prop ATR 72-500 aircraft Jet Airways has flown about 40 million passengers to date. The Airline currently operates over 240 flights daily to 40 destinations within India.

About Citigroup

Citigroup is the largest and the most diversified provider of financial services in the world. In India, with its 100-year history and a network of 24 branches, it has come to be acknowledged as one of the leading international banks in the country with a track record of outstanding business milestones. Cash Management was pioneered by Citigroup in 1986 and is utilised by over 800 corporates, with through puts totaling around $ 25 billion (6% of Indias GDP). It is Indias largest foreign bank in the FX (foreign exchange) market with an 8% market share. As the leading custodian, Citigroup has over $ 5 billion of custody assets under management. Citibank was a pioneer in consumer banking, being the first to introduce focused consumer lending programs and a pioneer in electronic banking, having made significant investments in technology. Citibank was the first to launch credit cards in India and is the leading credit card issuer in the country with 1.8million cards.

About MasterCard International

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard®, Maestro®, Cirrus® logos are present on credit, charge and debit cards in circulation today. An association comprising 22,000 financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is a leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants, than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.

For details contact:

Urvi Modi

ActiMedia

Tel: 91 022 56627074/75 (Ext 29)

Fax Ext : 28

Email : urvi@actimediaindia.com

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