NEW YORK--(BUSINESS WIRE)--Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by Renren Inc., a leading real name social networking internet platform in China, as depositary for Renren’s Level III American Depositary Receipt program. Each Renren American depositary share represents three ordinary shares and trades on the NYSE under the symbol “RENN.”

Hui Huang, the Chief Financial Officer of Renren, said, “Renren’s successful listing on NYSE is a major milestone for our company and we are pleased to have Citi as our depositary bank.”

Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said, “We’re pleased that Renren has chosen Citi as depositary bank for their Level III program. Citi’s extensive experience working with China-based companies and our unmatched global distribution network will enable us to support Renren's efforts to expand the visibility of their global profile.”

For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.

Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2010, it held on average $353 billion in liability balances and $12.6 trillion in assets under custody.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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, transaction services, and wealth management.

Additional information may be found at www.citigroup.com or www.citi.com.

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