Market Overview

Citi Retail Services Signs Agreement with Caterpillar Financial to Provide Commercial and Consumer Card Services


Citi Retail Services today announced a long-term agreement with
Caterpillar Financial Services Corporation (Cat Financial) to provide a
private label credit card program in the United States and Canada. Cat
Financial will jointly manage the overall program and continue to
provide guidance on the product offerings while transitioning the
origination and portfolio management responsibilities to Citi.

Cat Financial offers a wide range of financing solutions to customers
and Cat dealers for Cat machinery and engines, Solar Gas
Turbines and other equipment and marine vessels. Citi Retail Services is
one of North America's largest and most experienced retail credit
solution providers, delivering consumer and commercial credit card
products, both private label and co-brand, to retailers and their

The new Cat Card Program will offer both commercial and consumer
financing options to give customers the flexibility to finance parts,
servicing and rental needs at participating Cat dealers in the United
States and Canada.

Citi is now accepting applications online for the new Cat Card in the
United States and will begin accepting applications in Canada on August
21. Customers can apply at:

Existing Cat Financial Commercial Account customers can continue using
their accounts at participating Cat dealers until Citi provides a new
Cat Commercial Card with a new account number to replace their existing
account number in the coming weeks.

"Caterpillar has been a Citi banking partner for more than 90 years, and
we're excited to work together in this new capacity to serve their loyal
customers," said Craig Vallorano, Head of Citi Retail Services. "This
relationship allows us to expand our deep expertise in the dealer
network distribution market space and is an important addition to the
Citi Retail Services portfolio."

"Our partnership with Citi on the Cat Card Program brings substantial
opportunity to both the Caterpillar enterprise and our customers," said
Dave Walton, President, Caterpillar Financial Services Corporation.
"Building on the success of the existing Commercial Account product over
the last 10 years, Citi brings the scale to grow the product through
their established infrastructure and technological capabilities already
in place, including service centers for both customer and dealer
support, automated online credit approvals, and broad marketing and
analytics capabilities."

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.

Additional information may be found at
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About Caterpillar

For more than 90 years, Caterpillar Inc. has been making sustainable
progress possible and driving positive change on every continent.
Customers turn to Caterpillar to help them develop infrastructure,
energy and natural resource assets. With 2017 sales and revenues of
$45.462 billion, Caterpillar is the world's leading manufacturer of
construction and mining equipment, diesel and natural gas engines,
industrial gas turbines and diesel-electric locomotives. The company
principally operates through its three primary segments - Construction
Industries, Resource Industries and Energy & Transportation - and also
provides financing and related services through its Financial Products
segment. For more information, visit
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