ORB IEI YIELDS / Fact Sheet

The investors should read the product disclosure statement in full including the section on risks prior to investing in this product.

ORB International Enhanced Income is an offer to invest in YIELDS, a new hybrid security issued by Citigroup. Target annual income of 12% paid quarterly, growth potential from exposure to 30 of the largest companies in the world and capital guaranteed¹.

Key Factors

Product type	A 'unitised contract' providing investors with exposure to the performance of the Income Plus Trading Strategy (IPTS) in conjunction with a Capital Guarantee.
Structure	The offer is structured as a deferred purchase agreement. It is a contract between the investor and the Issuer whereby the Issuer agrees to deliver the Delivery Assets to investors on the maturity date thereby procuring the Capital Guarantee and the investment return to investors at maturity.
Security	YIELDS - Yield Income Enhanced Listed Deferred Securities
Investment	Units in YIELDS
Issue price	AUD $10.00 per unit
Issuer	Citigroup Global Markets Australian Pty Limited (CGMA).
Distributor	Investorlink Securities Limited (ISL)
Strategy Sponsor	Citigroup Global Markets Limited
Issue date	30 July 2004
Minimum application	500 Units and then in multiples of 100 Units
Expiry Date	6 Years form Start Dare
Reference Index	Dow Jones Global Titans 50 Index ("DJGT")
Distribution fee	(a) an upfront fee of 3.5% based on the Issue Price multiplied by the number of YIELDS on issue, payable by the Issuer; and (b) a trailing fee of 1.25% per annum based on the Issue Price multiplied by the number of YIELDS on issue, payable by the Issuer and conditional on the allocation to the Income Plus Trading Strategy.
Adviser commissions	The Financial advisers may receive a placement fee and a trailing commission based on the Issue Price multiplied by the number of YIELDS on issue. These fees are paid by the Distributor.

Key Features

Objectives	To provide investors with the potential for high quarterly income payments, medium term capital growth and a Capital Guarantee on the initial investment.
Deferral Payment Amount²	Targeted at 12% per annum
Deferral Payment frequency	Quarterly in arrears
Income Plus Trading Strategy	Developed by Citigroup Global Markets Limited. It seeks to generate a potentially high level of income and capital growth by providing exposure to 30 shares that comprise the Reference Index.
Dynamic Portfolio	This is designed to replicate an investment strategy that allocates investment exposure between two notional assets, namely the Income Plus Trading Strategy and the Bond Portfolio.
Capital Protection Value	Investors are guaranteed by the Issuer that the value of each YIELDS Unit will be at least equal to the Issue Price on the Maturity Date.
ASX code	YLDSO1

¹ The capital guarantee only applies to YIELDS held until the Maturity Date and provided that no Early Maturity Events occur. The capital guarantee is also subject to the credit worthiness of the Guarantor.
² The target income is only indicative and is not guaranteed. The figure of 12% per annum (net of fees) is a target income figure and not a target total return figure. This figure relates to the strategy and not to the returns achievable by any product linked to the strategy.