EX-99 4 exhibit99-1.txt EXHIBIT 99.1 KPMG INDPENDENT ACCOUNTANTS' REPORT EXHIBIT 99.1 Independent Accountants' Report ------------------------------- Citibank Credit Card Master Trust I c/o Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee Citibank (South Dakota), National Association, as Servicer We have examined the accompanying assertion made by management on Citibank (South Dakota), National Association's ("CBSD") compliance, as Servicer, with the servicing requirements in Article III, Sections 3.01, 3.02, 3.04, 3.05, 3.06, and 3.09, Article IV, and Section 8.08 of the Amended and Restated Pooling and Servicing Agreement for the Citibank Credit Card Master Trust I, formerly known as the Standard Credit Card Master Trust I (the "Trust"), dated as of October 5, 2001 (filed with the Securities and Exchange Commission on Form 8-K on October 19, 2001) and amended as of December 31, 2003, including the supplements for each series issued from the Trust, among CBSD, as Seller and Servicer, Citibank (Nevada), National Association, as Seller, and Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee (the "Agreement") for the year ended December 31, 2003. Management is responsible for CBSD's compliance with the aforementioned sections of the Agreement. Our responsibility is to express an opinion based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting management's assertion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. In our opinion, management's assertion referred to above is fairly stated, in all material respects, based upon the stated criteria in the Agreement. /s/ KPMG LLP New York, New York March 22, 2004 Management Report on Citibank (South Dakota), National Association's Compliance, as Servicer, with the Servicing Requirements of the Pooling and Servicing Agreement -------------------------------------------------- Management of Citibank (South Dakota), National Association ("CBSD"), as Servicer, is responsible for compliance with the servicing requirements in Article III, Sections 3.01, 3.02, 3.04, 3.05, 3.06, and 3.09, Article IV, and Section 8.08 of the Amended and Restated Pooling and Servicing Agreement (the "Agreement") for the Citibank Credit Card Master Trust I, formerly known as the Standard Credit Card Master Trust I (the "Trust"), dated as of October 5, 2001 and amended as of December 31, 2003, including the supplements for each series issued from the Trust, among CBSD, as Seller and Servicer, Citibank (Nevada), National Association, as Seller, and Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee. Management has performed an evaluation of CBSD's compliance with the aforementioned sections of the Agreement for the year ended December 31, 2003. Based upon this evaluation, management believes that, for the year ended December 31, 2003, CBSD, as Servicer, was materially in compliance with the aforementioned sections of the Agreement. /s/ Kendall Stork ----------------------- Kendall Stork President March 22, 2004 Independent Accountants' Report ------------------------------- Citibank Credit Card Master Trust I c/o Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee Citibank (South Dakota), National Association, as Servicer We have examined the accompanying assertion made by management on Citibank (South Dakota), National Association's ("CBSD") compliance, as Servicer, with Article III, Section 3.04 (b) of the Amended and Restated Pooling and Servicing Agreement, for the Citibank Credit Card Master Trust I, formerly known as the Standard Credit Card Master Trust I (the "Trust"), dated as of October 5, 2001 (filed with the Securities and Exchange Commission on Form 8-K on October 19, 2001) and amended as of December 31, 2003, including the supplements for each series issued from the Trust, among CBSD, as Seller and Servicer, Citibank (Nevada), National Association, as Seller, and Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee (the "Agreement") for the year ended December 31, 2003. Management is responsible for CBSD's compliance with Article III, Section 3.04 (b) of the Agreement, including the accuracy of the mathematical calculations of each amount set forth in the Monthly Servicer Certificates, delivered pursuant to Section 3.04 (b), using CBSD's computer reports which were the source of such amounts. Our responsibility is to express an opinion based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting management's assertion and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. In our opinion, management's assertion referred to above is fairly stated, in all material respects, based upon the stated criteria in the Agreement. /s/ KPMG LLP New York, New York March 22, 2004 Management Report on Citibank (South Dakota), National Association's Compliance, as Servicer, with Article III, Section 3.04 (b) of the Pooling and Servicing Agreement ------------------------------------------------------- Management of Citibank (South Dakota), National Association ("CBSD"), as Servicer, is responsible for the preparation of the Monthly Servicer Certificates in compliance with Article III, Section 3.04 (b) of the Amended and Restated Pooling and Servicing Agreement for the Citibank Credit Card Master Trust I, formerly known as the Standard Credit Card Master Trust I (the "Trust"), dated as of October 5, 2001 and amended as of December 31, 2003, including the supplements for each series issued from the Trust, among CBSD, as Seller and Servicer, Citibank (Nevada), National Association, as Seller, and Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as Trustee (the "Agreement"). Management is also responsible for the accuracy of the mathematical calculations of each amount set forth in the Monthly Servicer Certificates, delivered pursuant to Section 3.04 (b), using CBSD's computer reports which were the source of such amounts. Management has performed an evaluation of CBSD's compliance with Article III, Section 3.04 (b) of the Agreement, including the accuracy of the related mathematical calculations, for the year ended December 31, 2003. Based upon this evaluation, management believes that, for the year ended December 31, 2003, CBSD, as Servicer, was materially in compliance with Article III, Section 3.04 (b) of the Agreement. /s/ Kendall Stork ----------------------------- Kendall Stork President March 22, 2004