CITI MODEL PORTFOLIO - INVESTMENT

Important Disclosures:

1. Investments are not available to US persons and may not be available in all jurisdictions. Certain investments contained in the document may have tax implications for private investors where levels and basis of taxation may be subject to change without prior notice. Citi and its affiliates do not provide tax or legal advice and investors should seek advice from a tax or legal adviser. To the extent that this material or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor. The investor should be aware that it is his/her responsibility to seek legal or tax advice regarding the legal and tax consequences of his/her investment transactions. If the customer changes residence, citizenship, nationality, or place of work, it is his/her responsibility to understand how his/her investment transactions are affected by such change and comply with all applicable laws and regulations as and when such becomes applicable.
2. Past performance is not indicative of future performance, prices can go up or down despite past trends or current market indicators. Actual results may differ materially from forecasts or estimates, and may not meet Citi's expectations due to a variety of economic, market and other factors. Investors purchasing assets denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. Subject to the nature and contents of the document, the investments or securities or financial instruments described in this document are subject to fluctuations in price or value and investors may get back less than originally invested. Certain high-volatility investments can be subject to sudden and large declines in value that could equal the amount invested.
3. Information in this document has been prepared without taking account of the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Any investor considering a purchase or sale of a security or financial instrument should seek independent legal, financial, and business advice on the suitability or otherwise of a particular transaction. Investors are recommended to take into account the various economic and financial market considerations and inherent risks which are attendant to the purchase or sale of a security or financial instrument. Any decision to purchase or sell securities or financial instruments mentioned in this document should be made based on a review of the investor's particular circumstances. Investors should read the prospectus before deciding whether to subscribe for or purchase units in the Investment Products.
4. The document is not to be construed as a solicitation or recommendation of investment advice or distribution of any information for the purchase or sale of any investment or security or financial instrument or currency or other investment or service or to attract any funds or deposits by anyone in any jurisdiction in which such solicitation, recommendation, or distribution is not authorized or to any person, party, or entity to whom it is unlawful to distribute such a document or make such a solicitation, recommendation, or distribution.

5. Portfolio diversification is an important element for an investor to consider when making investment decisions. Concentrated positions may entail greater risks than a diversified portfolio. Certain factors that affect the assessment of whether your overall investment portfolio is sufficiently diversified may not be evident from a review of only your account with CFSI. It therefore is important that you carefully review your entire investment portfolio to ensure that it meets your investment goals and is within your risk tolerance, including your objectives for asset and issuer diversification. To discuss your asset allocations and potential strategies to reduce the risk and/or volatility of a concentrated position, please contact your relationship manager/relationship officer.

   Citi's Model Portfolio is not a program or offering, but is a diversification tool that is meant for reference purposes only. Model Portfolios are:

   1. not binding on part of the customers;
   2. not monitored by CFSI with respect to customers' individual investment holdings; and
   3. not personalized to the specific needs of any individual customer. Citi's Model Portfolios are not available to US Persons and may not be available in all jurisdictions.
6. By receiving this document, you acknowledge and agree that the "Model Portfolio(s)" referred to in this document are merely references to illustrations of recommended asset allocations based on your risk profile and investment objectives and that such "Model Portfolio(s)" are not personalized to your specific investment needs. The "Model Portfolio(s)" are arrived at and are provided to you without having regard to any underlying portfolio of investments which you may have or hold. You further acknowledge and agree that these "Model Portfolio(s)" are provided as at a specific point in time and will not be actively monitored by CFSI with respect to your individual investment holdings and that unless otherwise agreed in writing, CFSI does not undertake to, and is not obliged to, undertake a review, manage or monitor your investment holdings or to track your investment holdings against any "Model Portfolio". You also acknowledge and agree that no investment advisory or fund management services are being provided to you by virtue of the "Model Portfolio(s)" and that you will be solely responsible for your own decisions on investments and you will not rely on CFSI or any of its agents, officers or employees in any way in relation to such investments and/or the asset allocation of your investments.

7. Investment products:

   1. are not insured by the Philippine Deposit Insurance Corporation, Federal Deposit Insurance Corporation, or any other government entity;
   2. are not bank deposits or other obligations of any insured depository institution (including Citi and its affiliates); and
   3. are subject to investment risks, including the possible loss of the principal amount invested.
8. CFSI is regulated by the Securities and Exchange Commission (SEC) and Insurance Commission (IC). For any concerns, you may send us a message via www.citibank.com.ph or call the SEC Public Information and Assistance Hotline at 8584-11198584-1119, IC Trunkline at 8523-84618523-8461.