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CitiCapital To Provide Finance Solutions For PosiCharge® Customers

Jun 04, 2004

PosiCharge® provides safe, fast, in-truck battery charging for industrial electric vehicles, thereby eliminating the need for battery changing. PosiCharge increases productivity, improves safety, lowers operating costs, and streamlines operations of some of North America's largest, most profitable companies.

CitiCapital is the largest independent source of material handling financing in the United States and works with six of the top 10 U.S. forklift operators," said Pat Dellario, general manager, PosiCharge. "With these credentials, we're confident that we can significantly reduce end-user acquisition costs by quickly providing our customers with a wide variety of tailored financing options at competitive rates."

Stuart A. Fels, vice president of CitiCapital Material Handling Finance, said, "PosiCharge leads the burgeoning fast charge market and CitiCapital has the depth of experience and the resources to offer a full range of retail and wholesale financing programs. We're pleased to join forces with PosiCharge to provide customized financing solutions for its customers."

About CitiCapital
With a current global portfolio of more than $20 billion, CitiCapital, a business unit of Citigroup, is one the largest commercial finance companies in the United States. CitiCapital provides a full range of financing solutions and services to over 575,000 customers throughout the world and is a market leader in transportation, material handling, construction, business technology and medical equipment finance. Additional information can be found at http://www.citicapital.com.

Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers. Additional information may be found at: http://www.citigroup.com.

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