Rumson-Fair Haven Regional High School Economists Capture the Fed Challenge Title in Washington, DC

Rumson-Fair Haven Regional High School Economists Capture the Fed
Challenge Title in Washington, DC
Citibank Awards a Total of $165,000 in Scholarships, Awards and Grants 


NEW YORK, May 4  /PRNewswire-FirstCall/ -- Citibank subsidiary, The Student
Loan Corporation, today announced the winners of $165,000 in scholarships,
awards and grants for the high school teams competing in The 2004 Fed
Challenge.  The Fed Challenge, now in its ninth year, is a national high school
economics competition, sponsored by participating Reserve Banks and the Board
of Governors of the Federal Reserve System.  In the competition, teams of high
school students from around the country prepare and present analyses of the
economy and recommendations for monetary policy in a series of local, regional
and national competitions. This year marked the seventh year that Citibank has
provided scholarships, awards, and grants for participating teams.

Over the past several months, more than 230 teams competed in regional
competition for the right to represent their Federal Reserve District in
national-level competition.  Eight teams, each representing one of the
participating Federal Reserve Districts (Boston, Chicago, Cleveland, Dallas,
Kansas City, New York, Richmond, and St. Louis) made it to the national level
of competition in Washington, D.C.

All eight teams made their recommendations on U.S. monetary policy in the
semi-finals on Sunday.  Four teams advanced to the finals yesterday.  The
judges for the final round of competition: Ben S. Bernanke, Board of Governors;
J. Alfred Broaddus, President -- Federal Reserve Bank of Richmond; and Sandra
Pianalto, President -- Federal Reserve Bank of Cleveland.  All are members of
the Federal Open Market Committee.  Federal Reserve Chairman Alan Greenspan
stopped by during the final round of competition with congratulatory remarks
for all the partricipatnts.

For winning this year's competition, the team from Rumson-Fair Haven Regional
High School of Rumson, NJ representing the Federal Reserve Bank of New York,
received a $10,000 Citibank Grant for The Fed Challenge.  The money will be
used to establish or further equip an in-school economics laboratory. The five
students on the team -- Kimberly Gittleson, Kevin Johnson, Eric Roberts,
Camilla Thees, and Amanda Tomney -- each will receive $7,000 Citibank
Scholarships for The Fed Challenge.  Their faculty advisor, Joseph Lanza will
receive a $5,000 Citibank Grant for The Fed Challenge.

"This whole program has been a great experience for our kids.  It's a wonderful
way to get students excited about economics," said Lanza.  "The scholarship
money from Citibank's Student Loan Corporation is also a tremendous motivator,
as it can make a big difference in helping students handle the rising costs of
attending college.  We're especially looking forward to putting the grant money
to work to promote economic literacy among all our students."

Citibank also awarded $25,000 to each of the national finalist teams and
$10,000 to each of the national semi-finalist teams representing their
Districts in the national competition.  They were:

  Fed Challenge National Finalists:
   -- High School for the Performing and Visual Arts in Houston, TX --
      representing the Federal Reserve Bank of Dallas
   -- Marquette High School in Chesterfield, MO -- representing the Federal
      Reserve Bank of St. Louis
   -- Shaker Heights High School in Shaker Heights, Oh -- representing the
      Federal Reserve Bank of Cleveland

  Fed Challenge National Semi-Finalists:
   -- Choate Rosemary Hall in Wallingford, CT -- representing the Federal
      Reserve Bank of Boston
   -- Saint Catherine's School in Richmond, VA -- representing the Federal
      Reserve Bank of Richmond
   -- Saint Joseph High School in South Bend, IN -- representing the Federal
      Reserve Bank of Chicago
   -- Westside High School in Omaha, NE -- representing the Federal Reserve
      Bank of Kansas City



"Citibank established the Citibank Scholarships, Awards and Grants for The Fed
Challenge in 1998 to encourage economic study at the high school level. Each
year we're more impressed with the student competitors and the quality of their
monetary policy recommendations," said Sue Roberts, President, The Student Loan
Corporation.  "The Fed Challenge competition clearly encourages students,
teachers and parents across the country to learn more about economics and how
it impacts their daily lives."

For Further Information

Students, teachers and parents interested in information on next year's Fed
Challenge competition and the Citibank Scholarships, Awards and Grants for The
Fed Challenge should visit the Federal Reserve Bank of New York's official web
site: hftp://www.ny.frb.org/pihome/educator/fedchal.html -- or call toll-free:
1-877-FED-CHLG.

Based on the belief that knowledge is your greatest asset, the Citigroup
Financial Education Program is a global, company-wide effort working jointly
with the Citigroup Foundation to identify, support and implement initiatives
that help give individuals, families and institutions the tools needed to make
sound financial decisions.  Citigroup's ten-year, $200 million global
commitment is focused in three areas:  Personal Financial Education, Small
Business Financial Education, and Institutional Financial Education. Additional
information about Citigroup's Financial Education Program, including Foundation
guidelines, links and resources, and the Citigroup Financial Education Program
Curriculum and Facilitator's Guide may be found at:
financialeducation.citigroup.com.

Citigroup (NYSE:C), the preeminent global financial services company has some
200 million customer accounts and does business in more than 100 countries,
providing 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 Life and Annuity.  Additional information may be found at
http://www.citigroup.com/ 

DATASOURCE: The Student Loan Corporation



CONTACT:  Media - Anita Gupta of Citibank, [phone],

; or Linda Ricci of the Federal Reserve Bank of New York,

[phone], , both for The Student Loan

Corporation



Web site:  http://www.studentloan.com/

http://www.citigroup.com/

hftp://www.ny.frb.org/pihome/educator/fedchal.html 

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