EXHIBIT 99.1


                         Independent Accountants' Report


Citibank Credit Card Issuance Trust, as Issuer
c/o Deutsche Bank Trust Company Americas (formerly Bankers Trust Company),
as Trustee

Citibank (South Dakota), National Association, as Managing Beneficiary

We have examined the accompanying assertion made by Citibank (South Dakota),
National Association's ("CBSD") management on Citibank Credit Card Issuance
Trust's ("Issuer") compliance with Article IX, Section 907 of the Indenture,
dated as of September 26, 2000 (filed with the Securities and Exchange
Commission on Form S-3 on December 29, 2000) and amended as of November 14,
2001, between the Issuer and Deutsche Bank Trust Company Americas (formerly
Bankers Trust Company), as Trustee for the year ended December 31, 2003.
Management is responsible for the Issuer's compliance with Article IX, Section
907 of the Indenture, including the accuracy of the mathematical calculations of
each amount set forth in the Issuer's Report, delivered each month pursuant to
Section 907, 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 Indenture.


/s/ KPMG LLP

New York, New York
March 22, 2004


<PAGE>

   Management Report on Citibank Credit Card Issuance Trust's Compliance with
                    Article IX, Section 907 of the Indenture
                    ----------------------------------------

Citibank (South Dakota), National Association ("CBSD") is the Managing
Beneficiary of Citibank Credit Card Issuance Trust ("Issuer") and the Servicer
of Citibank Credit Card Master Trust I ("Master Trust").

Management of CBSD, as Managing Beneficiary of the Issuer and as Servicer of the
Master Trust, is responsible for the preparation of the monthly Issuer's Report
in compliance with Article IX, Section 907 of the Indenture, dated as of
September 26, 2000 and amended as of November 14, 2001, between the Issuer and
Deutsche Bank Trust Company Americas (formerly Bankers Trust Company), as
Trustee. Management is also responsible for the accuracy of the mathematical
calculations of each amount set forth in the Issuer's Report, delivered each
month pursuant to Section 907, using CBSD's computer reports which were the
source of such amounts.

Management has performed an evaluation of the Issuer's compliance with Article
IX, Section 907 of the Indenture, including the accuracy of the related
mathematical calculations, for year ended December 31, 2003. Based upon this
evaluation, management believes that, for the year ended December 31, 2003, the
Issuer was materially in compliance with Article IX, Section 907 of the
Indenture.



/s/ Kendall Stork
----------------------------
Kendall Stork
President


March 22, 2004