CitiFinancial To Build Major Operations and Collections Center in South Carolina

BALTIMORE, MD – CitiFinancial today announced that it will soon break ground on a major operations center in Fort Mill, SC, that will eventually house close to 1,600 employees. Construction on the 165,000 square foot facility, which is located six miles south of Charlotte, NC, is expected to begin later this month.

“We are proud to move forward with this new state-of-the-art facility,” said Harry Goff, President and CEO of CitiFinancial. “At CitiFinancial, we work hard to make a difference in the communities where we work and live. This new building represents a major commitment to Fort Mill, South Carolina, and the greater Charlotte metropolitan area. We look forward to a long stay in the region.”

More important, a facility of this size will create myriad opportunities and long-term job prospects, said Mr. Goff. To fill positions at the new site, CitiFinancial expects to eventually hire approximately 800 to 1,000 people. The majority of the jobs will be in collections and customer service.

“Anytime you can bring the kind of job growth CitiFinancial is bringing to York County, it’s a tremendous shot in the arm for your economy,” said South Carolina Governor Mark Sanford. “We’re going to continue pushing to improve our state’s underlying business climate so that local economic developers and our team at the Department of Commerce have more tools to use in attracting business.”

“With this terrific announcement by CitiFinancial, York County has a great start toward building a financial services cluster,” said South Carolina Commerce Secretary Bob Faith. “This is a well-known company with a significant presence across the nation, and we’re thrilled, but not surprised, that CitiFinancial found their perfect site in South Carolina.”

“We are thrilled that CitiFinancial, Inc. has chosen to locate in York County, South Carolina,” said Mike Short, York County Council Chairman. “This investment is a good indication of the future of our community, and has helped to renew confidence in our economic outlook. Attracting major corporate headquarters and office functions to our community is a relatively new frontier for York County and we are confident that this will be a continuing trend.”

CitiFinancial expects most of its Charlotte Service Center to occupy the new building by the fourth quarter of 2005. In early 2006, employees from several other area CitiFinancial businesses, including its Auto Service Center and Auto Branch Network, are also expected to move into the new facility. The building site is located in Kingsley Park, a new commercial development on Highway 160, off exit 85 on Interstate 77. “We appreciate the efforts of the Department of Commerce, which helped us locate this site,” said Mr. Goff.

About CitiFinancial
Founded in 1912 as Commercial Credit Company, CitiFinancial has grown to become one of the largest consumer finance companies in the industry, providing real estate-secured and personal loans to middle-income families. With a network of nearly 2,000 branch offices in 48 states in the U.S., CitiFinancial focuses on providing quality products and services that address customer needs and allow the company to build long-term relationships with its customers.