Media OutReach Newswire

Citybus and New World First Bus Join Citi Octopus Platinum Card Bus Fare Rebate Program

Year-round 15% bus fare rebate now applies to buses in Kowloon, the New Territories and on the Hong Kong Island

HONG KONG, CHINA - Media OutReach - 22 January 2019 - Citigroup Inc. (NYSE: C) - Citi, together with Citybus Limited and New World First Bus Services Limited announced today a newly-formed partnership to expand the bus fare rebate program exclusively for Citi Octopus Platinum cardholders.

Passengers commuting on buses operated by Citybus and New World First Bus can now earn a year-round 15% rebate on bus fare with a Citi Octopus Platinum card, in addition to the existing arrangement with Kowloon Bus Company (1933) Limited and Long Win Bus Company Limited.

The first-of-its-kind bus fare rebate program was first introduced in 2017, which has since attracted over one-third of Citi Octopus Platinum cardholders who are also regular bus riders to register. In June 2018, the year-round rebate was increased from the original 10% to 15%, enabling eligible Citi customers to earn as much as HK$300 worth of bus fare rebate in the form of Octopus Cash each month.

Commenting on the enhanced customer program, Lawrence Li, Head of Cards and Unsecured Lending at Citibank Hong Kong, said, "We are excited to be able to partner with Citybus and New World First Bus to further extend this popular credit card offer to cover the bus routes in Kowloon, the New Territories, and on the Hong Kong Island. With the Citi Octopus Platinum card, not only can customers conveniently pay for their bus fare, they can even earn cash rebates from their daily commute."

William Chung, Head of Operations of Citybus and New World First Bus, said, "We are glad to collaborate with Citi to reduce the burden of our passengers on transport expenses. The expanded Citi bus fare rebate program will certainly benefit many of our passengers".

The 15% bus fare rebate will be in the form of Octopus Cash Rebate and can be used for offsetting Octopus Automatic Add Value Service (AAVS) transactions. The ongoing Citi Octopus Credit Card benefit of earning HK$1 Octopus Cash Rebate for every HK$200 spending will continue to apply. Thus, Citi Octopus Platinum Cardholders will be able to earn an extra 15% Octopus Cash Rebate from the eligible bus transactions between now and December 31, 2019.

To earn a 15% Octopus Cash Rebate from Octopus transactions on buses run by the participating bus operators, existing and new Citi Octopus Platinum Cardholders who have not previously registered are required to enrol once on www.citibank.com.hk/bus and meet a minimum of HK$1,500 eligible spending each month. Existing registrants will be automatically enrolled to the new program. The bus fare rebate is capped at HK$300 per month. Terms and conditions apply, please visit www.citibank.com.hk/octopus for more details.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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.

About New World First Bus and Citybus

NWFB and Citybus are wholly owned by NWS Holdings Limited. NWS Holdings Limited ("NWS Holdings", Hong Kong stock code: 659) is the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17). It has diverse businesses and investments predominantly in Hong Kong and Mainland China, comprising toll roads, environmental management, port and logistics facilities, rail container terminals, commercial aircraft leasing, facilities management, healthcare services, construction and public transport. Please visit www.nws.com.hk for details.

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