Billion Dollar Bond Issue For Guardian Holdings

Port Of Spain, Trinidad & Tobago, February 28, 2011

Citi announced that it acted as Sole Arranger in a hostoric corporate bond issuance by Guardian Holdings Limited (GHL) for TT$1 Billion.

This landmark capital markets transaction, representing both the largest local currency issue and the longest tenor made available to a private sector entity in Trinidad and Tobago, is a testament to the growing maturity of the local market for long-term funds and the confidence that investors place in GHL as an issuer.

In June 2010, A.M. Best affirmed the Financial Strength Rating of two of GHL's flagship companies, Guardian General Insurance Limited and Guardian Life of the Carribbean Limited, as A- (excellent).

GHL intends to use the proceeds from the issue and sale of the Bonds for the purpose of optimizing its capital structure by re-profiling existing debt.

Dennis Evans, Managing Director of Citibank (Trinidad & Tobago) Limited and its regional franchise, stated "Citi is please to continue our tradition of being an important strategic partner to Guardian Holdings Limited.  Notably, this transaction represents the third time that Citi has successfully taken GHL to the capital markets.  This strong track record is a combination of the strength and depth of the local capital market, the leadership position of GHL, the strong response by the investor base and Citi's commitment to finding innovative solutions for our clients."

Group CEO of Guardian Holdings Limited, Jeffrey Mack, expressed his high level of satisfaction with the transaction.  "With the current low interest rate environment, GHL felt that the timing of this debt re-profiling solution from Citi was excellent.  This debt will form a core part of our capital structure, will improve the Goup's cash flow and lower our overall cost of capital."

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.  Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.  Additonal information may be found at www.citigroup.com or www.citi.com .

About Guardian

Guardian Holdings Limited is the parent company for an integrated financial services group with a focus on life, health, property and casualty insurance, pensions and asset management.  The company has grown steadily and currently operates across the English and Dutch Caribbean with interests in the United Kingdom.  It is listed on both the Trinidad and Tobago and Jamaica stock exchanges.

Guardian has earned its reputatuin among the leading financial institutions in the Caribbean.  The "Jamaican Gleaner" newspaper and Mona School of Business selected GHL as winner of the 2003 Gilt Edged Golden Award for Jamaica and the Caribbean, Most Adminred Company in Trinidad and Tobago in 2003 and the Caribbean Company of the Year in 2000.  The company has captured awards from the Jamaica Stock Exchange for online reporting in 2008, 2009 and 2010.  It was the proud recipient of the Trinidad and Tobago Energy Chamber 2009 Leadership Award for "Sustaining the Environment: Making the Most of Green Opportunities".  In 2010, its subsidiary company, Guardian Life of the Caribbean, captured the World Finance Caribbean Insurance Company of the Year for the third consecutive year.

The network of Guardian's core qualities - Strength, Endurance, Leadership - intersects with its core values of Integrity, Quality, Growth and Serving People.  Together they form the bedrock of the Guardian Group of companies.

www.guardianholdings.com; www.facebook.com/guardianfinancial

Media Contact

CITI: Sonja Johnson, Public Affairs Officer -  sonja.johnson@citi.com ; Tel. No. : 868 821-6253

GHL: Maria Rivas-Mc Millan, Group VP, Corporate Communications - maria.mcmillan@ghl.co.tt ; Tel. No. : 868 632 5433