Document:

Terms Document 2007-B1

     

     

    Exhibit
      4.1

    
 

    CITIBANK
      CREDIT CARD ISSUANCE TRUST

    

    Citiseries

    Class
      2007-B1 Notes

    

    Issuer
      Certificate

    Pursuant
      to Sections 202 and 301(h) of the Indenture

    

    Reference
      is made to the Indenture, dated as of September 26, 2000, as amended by
      Amendment No. 1 thereto dated as of November 14, 2001, each between Citibank
      Credit Card Issuance Trust (the "Issuer") and Deutsche Bank Trust Company
      Americas, as trustee (the "Indenture"). Capitalized terms used herein that
      are
      not otherwise defined have the meanings set forth in the Indenture. All
      references herein to designated Sections are to the designated Sections of
      the
      Indenture.

    

    Section
      301(h) provides that the Issuer may from time to time create a tranche of Notes
      either by or pursuant to an Issuer Certificate setting forth the principal
      terms
      thereof. Pursuant to this Issuer Certificate, there is hereby created a tranche
      of Notes having the following terms:

    

    Series
      Designation:
      Citiseries. This series is included in Group 1.

    

    Tranche
      Designation:
      $200,000,000 Floating Rate Class 2007-B1 Notes of April 2010 (Legal Maturity
      Date April 2012) (hereinafter, the "Class 2007-B1 Notes")

    

    Currency:
      The
      Class 2007-B1 Notes will be payable, and denominated, in Dollars.

    

    Denominations:
      The
      Class 2007-B1 Notes will be issuable in minimum denominations of $100,000 and
      multiples of $1,000 in excess of that amount. 

    

    Issuance
      Date:
      April
      2, 2007

    

    Initial
      Principal Amount:
      $200,000,000

    

    Issue
      Price:
      100%

    

    Interest
      Rate:
      The
      Class 2007-B1 Notes will accrue interest with respect to any interest period
      at
      a per annum rate equal to the Class 2007-B1 Note Rate for such interest period,
      calculated on the basis of the actual number of days in such interest period
      divided by 360. The "Class 2007-B1 Note Rate" means,
      with
      respect to the first interest period, 5.42438%
      per
      annum
      and, with respect to each interest period thereafter, a
      per
      annum rate equal to LIBOR for such interest period plus 0.075%.

    

    The
      Issuer will determine LIBOR for each applicable interest period on the second
      business day before the beginning of that interest period. For purposes of
      calculating LIBOR, a business day is any day on which dealings in deposits
      in
      U.S. Dollars are transacted in the London interbank market.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    "LIBOR"
      means,
      as of any date of determination, the rate for deposits in U.S. Dollars for
      the
      Designated Maturity (commencing on the first day of the relevant interest
      period) which appears on Telerate Page 3750 as of 11:00 a.m., London time,
      on
      such date. If such rate does not appear on Telerate Page 3750, the rate for
      that
      day will be determined on the basis of the rates at which deposits in U.S.
      Dollars are offered by the Reference Banks at approximately 11:00 a.m., London
      time, on that day to prime banks in the London interbank market for the
      Designated Maturity (commencing on the first day of the relevant interest
      period). The Issuer will request the principal London office of each of the
      Reference Banks to provide a quotation of its rate. If at least two such
      quotations are provided, the rate for that day will be the arithmetic mean
      of
      the quotations. If fewer than two quotations are provided as requested, the
      rate
      for that day will be the arithmetic mean of the rates quoted by major banks
      in
      New York City, selected by the Issuer, at approximately 11:00 a.m., New York
      City time, on that day for loans in U.S. Dollars to leading European banks
      for a
      period of the Designated Maturity (commencing on the first day of the relevant
      interest period).

    

    "Telerate
      Page 3750"
      means
      the display page currently so designated on the Moneyline Telerate Service
      (or
      such other page as may replace that page on that service for the purpose of
      displaying comparable rates or prices).

    

    "Designated
      Maturity"
      means
      three months, however,
      upon
      the occurrence of an Event of Default or an Early Redemption Event with respect
      to the Class 2007-B1 Notes, or if the Class 2007-B1 Notes are not paid in full
      on their Expected Principal Payment Date, "Designated Maturity" means one
      month.

    

    "Reference
      Banks"
      means
      four major banks in the London interbank market selected by the
      Issuer.

    

    Scheduled
      Interest Payment Dates:
      The
      2nd
      day of
      each January, April, July and October, beginning July 2007.

    

    Each
      payment of interest on the Class 2007-B1 Notes will include all interest accrued
      from and including the preceding Interest Payment Date -- or, for the first
      interest period, from and including the Issuance Date -- to and including the
      day preceding the current Interest Payment Date, plus any interest accrued
      but
      not previously paid.

    

    The
      first
      deposit targeted to be made to the Interest Funding sub-Account for the Class
      2007-B1 Notes will be on the May 2, 2007 Interest Deposit Date and in an amount
      equal to $904,063.33.

    

    Expected
      Principal Payment Date:
      April
      2, 2010

    

    Legal
      Maturity Date:
      April
      2, 2012

    

    Monthly
      Principal Date: For
      the
      month in which the Expected Principal Payment Date occurs, April 2, 2010, and
      for each other month, the 2nd day of such month, or if such day is not a
      Business Day, the next following Business Day.

    

    Required
      Subordinated Amount of Class B Notes:
      Not
      applicable.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    Required
      Subordinated Amount of Class C Notes:
      $266,666,660, subject to the provisions of Section 312(a)(iii) of the
      Indenture.

    

    Controlled
      Accumulation Amount:
      Not
      applicable.

    

    Form
      of Notes:
      The
      Class 2007-B1 Notes will be issued as Global Notes. The Global Notes will
      initially be registered in the name of Cede & Co., as nominee of The
      Depository Trust Company, and will be exchangeable for individual Notes only
      in
      accordance with the provisions of Section 204(c).

    

    Additional
      Issuances of Class 2007-B1 Notes:
      The
      Issuer may at any time and from time to time issue additional Class 2007-B1
      Notes, subject to the satisfaction of (i) the conditions precedent set forth
      in
      Section 311(a) and (ii) the following conditions:

    

    (a)
      the
      Issuer has obtained written confirmation from each Rating Agency that there
      will
      be no Ratings Effect with respect to the then outstanding Class 2007-B1 Notes
      as
      a result of the issuance of such additional Class 2007-B1 Notes;

    

    (b)
      as of
      the date of issuance of the additional Class 2007-B1 Notes, all amounts due
      and
      owing to the Holders of the then outstanding Class 2007-B1 Notes have been
      paid
      and there is no Nominal Liquidation Amount Deficit with respect to the then
      outstanding Class 2007-B1 Notes;

    

    (c)
      the
      additional Class 2007-B1 Notes will be fungible with the original Class 2007-B1
      Notes for federal income tax purposes; and

    

    (d)
      if
      Holders of the then outstanding Class 2007-B1 Notes have benefit of a Derivative
      Agreement, the Issuer will have obtained a Derivative Agreement for the benefit
      of the Holders of the additional Class 2007-B1 Notes.

    

    As
      of the
      date of issuance of additional Class 2007-B1 Notes, the Outstanding Dollar
      Principal Amount and Nominal Liquidation Amount of the Class 2007-B1 Notes
      will
      be increased to reflect the Initial Dollar Principal Amount of the additional
      Class 2007-B1 Notes. 

    

    Any
      outstanding Class 2007-B1 Notes and any additional Class 2007-B1 Notes will
      be
      equally and ratably entitled to the benefits of the Indenture without
      preference, priority or distinction.

    

    Optional
      Redemption Provisions other than Section 1202 "Clean-Up
      Call":
      None

    

    Additional
      Early Redemption Events or changes to Early Redemption
      Events:
      None

    

    Additional
      Events of Default or changes to Events of Default:
      None

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Business
      Day:
      means
      any day other than (a) a Saturday or Sunday or (b) any other day on which
      national banking associations or state banking institutions in New York, New
      York or South Dakota, or any other state in which the principal executive
      offices of any Additional Seller are located, are authorized or obligated by
      law, executive order or governmental decree to be closed.

    

    Securities
      Exchange Listing:
      Application will be made to list the Class 2007-B1 Notes on the Irish Stock
      Exchange.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    The
      Class
      2007-B1 Notes shall have such other terms as are set forth in the form of Note
      attached hereto as Exhibit A. Pursuant to Section 202, the form of Note attached
      hereto has been approved by the Issuer.

    

    

    
      	 	
              CITIBANK
                CREDIT CARD ISSUANCE TRUST

            
	 	
              By
                 Citibank
                (South Dakota), National Association,

            
	 	
              as
                Managing Beneficiary

            
	 	 
	 	 
	 	 
	 	
              /s/
                Douglas C. Morrison 

              -------------------------------------------

            
	 	
              Douglas
                C. Morrison

            
	 	
              Vice
                President

            

    

    

    Dated:
      April 2, 2007

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    Citiseries

    Class
      2007-B1 Notes

    

    Reference
      is made to the resolutions adopted by the Board of Directors of Citibank (South
      Dakota), National Association ("Citibank (South Dakota)") on April 26, 2000,
      as
      amended on September 25, 2001 and October 25, 2006. The resolutions authorize
      Citibank (South Dakota) from time to time to issue and sell, or to arrange
      for
      or participate in the issuance and sale of, one or more series and/or classes
      of
      pass-through certificates, participation certificates, commercial paper, notes
      or other securities representing ownership interests in, or backed by, pools
      of
      credit card receivables or interests therein ("Receivables") in an aggregate
      principal amount such that up to $125,000,000,000 of such certificates,
      commercial paper, notes or securities are outstanding at any one time and to
      sell, transfer, convey or assign Receivables to trusts or other special purpose
      entities in connection therewith on such terms as to be determined by the
      Citibank (South Dakota) Pricing and Loan Committee (the "Pricing and Loan
      Committee").

    

    The
      undersigned, a duly authorized member of the Pricing and Loan Committee, on
      behalf of such Pricing and Loan Committee, does hereby certify that the terms
      of
      the tranche of Notes set forth in and to be created by the preceding Issuer
      Certificate and the increase in the Invested Amount of the Collateral
      Certificate resulting from the issuance of such Notes have been approved by
      such
      Pricing and Loan Committee. In addition, the following underwriting/selling
      agent terms with respect to this tranche of Notes have been approved by such
      Pricing and Loan Committee:

    

    Issue
      Price: 100%

    

    Underwriting
      Commission: 0.20%

    

    Proceeds
      to Issuer: 99.80%

    

    Representative
      of the Underwriters: Citigroup Global Markets Inc.

    

    

    The
      preceding Issuer Certificate and this certification of Pricing and Loan
      Committee approval shall be, continuously from the time of their execution,
      official records of Citibank (South Dakota).

    

    

    /s/
      Douglas C. Morrison

    ----------------------------------------

    
      	
              Douglas
                C. Morrison

            
	
              Member
                of the Pricing and Loan Committee

            
	
              Citibank
                (South Dakota), National
                Association

            

    

    

    

    Dated:
      April 2, 2007

    

    
      
        
          

          

        

        6

      

      
         

        
          

        

      

      
         

        
        

      

    

    Exhibit
      A

    

    FORM
      OF

    

    CITISERIES

    

    FLOATING
      RATE CLASS 2007-B1 NOTES OF APRIL 2010

    (Legal
      Maturity Date April 2012)

    

    

    $200,000,000         REGISTERED

    CUSIP
      No.
      17305E DQ 5       No.
      R-1

    

    UNLESS
      THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
      COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
      REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
      IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
      AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
      TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
      ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
      PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
      AN INTEREST HEREIN.

    

    THE
      PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE INDENTURE
      REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE
      AT
      ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

    

    

    CITIBANK
      CREDIT CARD ISSUANCE TRUST

    

    CITISERIES

    

    FLOATING
      RATE CLASS 2007-B1 NOTES OF APRIL 2010

    (Legal
      Maturity Date April 2012)

    

    

    CITIBANK
      CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of the
      State of Delaware (including any successor, the "Issuer"), for value received,
      hereby promises to pay to CEDE & CO., or its registered assigns, the
      principal amount of TWO HUNDRED MILLION DOLLARS ($200,000,000). The Expected
      Principal Payment Date for this Note is April 2, 2010. The Legal Maturity Date
      for this Note is April 2, 2012.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
      Issuer hereby promises to pay interest on this Note on the 2nd
      day of
      each January, April, July and October, beginning July 2007, until the principal
      of this Note is paid or made available for payment, subject to certain
      limitations set forth in the Indenture. Interest will accrue on the outstanding
      principal amount of this Note for each interest period in an amount equal to
      the
      product of (i) the actual number of days in such interest period divided by
      360,
      (ii) a rate per annum equal to the Class 2007-B1 Note Rate for such interest
      period, and (iii) the outstanding principal amount of this Note as of the
      preceding Interest Payment Date (after giving effect to any payments of
      principal made on the preceding Interest Payment Date)
      or, in
      the case of the first Interest Payment Date, the initial principal amount of
      this Note.
      The
      Class 2007-B1 Note Rate will be determined as provided in the
      Indenture.

    

    If
      any
      Interest Payment Date or Principal Payment Date of this Note falls on a day
      that
      is not a Business Day, the required payment of interest or principal will be
      made on the following Business Day.

    

    This
      Note
      is one of the Citiseries, Class 2007-B1 Notes issued pursuant to the Indenture,
      dated as of September 26, 2000 (as amended and otherwise modified from time
      to
      time, the "Indenture") between the Issuer and Deutsche Bank Trust Company
      Americas, as Trustee. For purposes of this Note, the term "Indenture" includes
      any supplemental indenture or Issuer Certificate relating to the Citiseries,
      Class 2007-B1 Notes. This Note is subject to all of the terms of the Indenture.
      All terms used in this Note that are not otherwise defined herein and that
      are
      defined in the Indenture will have the meanings assigned to them
      therein.

    

    The
      principal of and interest on this Note are payable in such coin or currency
      of
      the United States of America as at the time of payment is legal tender for
      payment of public and private debts.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, is deemed to
      have
      consented to such amendments to the Pooling and Servicing Agreement and other
      operative documents as are necessary to permit the Seller to retain sale
      treatment for accounting purposes of the transfer of assets to the Master Trust,
      in accordance with the provisions of Financial Accounting Standards Board SFAS
      No. 140.

    

    Reference
      is made to the further provisions of this Note set forth on the reverse hereof,
      which will have the same effect as though fully set forth on the face of this
      Note.

    

    Unless
      the certificate of authentication hereon has been executed by the Trustee whose
      name appears below by manual signature, this Note will not 

    

    

    

    

    

    

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    be
      entitled to any benefit under the Indenture, or be valid or obligatory for
      any
      purpose.

    

    IN
      WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
      or
      in facsimile, by an Issuer Authorized Officer.

    

    
      	 	
              CITIBANK
                CREDIT CARD ISSUANCE TRUST

            
	 	 
	 	
              By: CITIBANK
                (SOUTH DAKOTA),

            
	 	
              NATIONAL
                ASSOCIATION,

            
	 	
              as
                Managing Beneficiary of

            
	 	
              Citibank
                Credit Card Issuance Trust

            
	 	 
	 	 
	 	
              By:
                __________________________________

            
	 	
              Douglas
                C. Morrison

            
	 	
              Vice
                President

            

    

    

    Dated:
      April 2, 2007

    

    

    

    

    TRUSTEE'S
      CERTIFICATE OF AUTHENTICATION

    

    

    This
      is
      one of the Notes designated above and referred to in the within mentioned
      Indenture.

    

    

    
      	 	
              DEUTSCHE
                BANK TRUST COMPANY AMERICAS,

            
	 	
              as
                Trustee under the Indenture

            
	 	 
	 	 
	 	
              By:
                _________________________________

            
	 	
              Authorized
                Signatory

            

    

    

    Dated:
      April 2, 2007

    

    

    

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    REVERSE
      OF NOTE

    

    This
      Note
      is one of a duly authorized issue of Notes of the Issuer, designated as its
      Citiseries Floating Rate Class 2007-B1 Notes of April 2010 (Legal Maturity
      Date
      April 2012) (herein called the "Notes"), all issued under an Indenture, to
      which
      Indenture reference is hereby made for a statement of the respective rights
      and
      obligations thereunder of the Issuer, the Trustee and the Holders of the
      Notes.

    

    This
      Note
      ranks pari passu with all other Class B Notes of the same series, and this
      Note
      is subordinated to Class A Notes of the same series, as set forth in the
      Indenture. This Note is secured to the extent, and by the collateral, described
      in the Indenture.

    

    The
      Issuer will pay interest on overdue interest as set forth in the Indenture
      to
      the extent lawful.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      no
      recourse may be taken, directly or indirectly, with respect to the obligations
      of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer
      Trustee, Citibank (South Dakota), the Trustee or any affiliate, officer,
      employee or director of any of them, and the obligation of the Issuer to pay
      principal of or interest on this Note or any other amount payable to the Holder
      of this Note will be subject to Article V of the Indenture.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      this
      Note is intended to be debt of Citibank (South Dakota) for federal, state and
      local income and franchise tax purposes, and agrees to treat this Note
      accordingly for all such purposes, unless otherwise required by a taxing
      authority.

    

    Each
      Holder by acceptance of this Note, and each owner of a beneficial interest
      in
      this Note by acceptance of a beneficial interest in this Note, agrees that
      it
      will not at any time institute against the Issuer, or join in any institution
      against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency
      or liquidation proceeding, or other proceedings under any United States federal
      or state bankruptcy or similar law in connection with any obligations relating
      to this Note, the Indenture or any Derivative Agreement.

    

    This
      Note
      and the Indenture will be construed in accordance with and governed by the
      laws
      of the State of New York.

    

    No
      reference herein to the Indenture and no provision of this Note or of the
      Indenture will alter or impair the obligation of the Issuer, which is absolute
      and unconditional, to pay the principal of and interest on this Note at the
      times, place and rate, and in the coin or currency, herein
      prescribed.

    

    Certain
      amendments may be made to the Indenture without the consent of the Holder of
      this Note. This Note must be surrendered for final payment of principal and
      interest.

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    ASSIGNMENT

    

    

    Social
      Security or taxpayer I.D. or other identifying number of
      assignee:____________________

    

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto

    

    ___________________________________________________________________

    

    ___________________________________________________________________

    (name
      and
      address of assignee)

    

    the
      within Note and all rights thereunder, and hereby irrevocably constitutes and
      appoints __________________________________________________________, attorney,
      to transfer said Note on the books kept for registration thereof, with full
      power of substitution in the premises.

    

    Dated:
      ____________________________ _________________________*

    Signature
      Guaranteed:

    

    

    

    

    ----------------

    *
      NOTE:
      The signature to this assignment must correspond with the name of the registered
      owner as it appears on the face of the within Note in every particular without
      alteration, enlargement or any change whatsoever.

    

    

    

    
 

    5Terms Document 2007-B2

     

     

    Exhibit
      4.1

    

      CITIBANK
        CREDIT CARD ISSUANCE TRUST

      

      Citiseries

      Class
        2007-B2 Notes

      

      Issuer
        Certificate

      Pursuant
        to Sections 202 and 301(h) of the Indenture

      

      Reference
        is made to the Indenture, dated as of September 26, 2000, as amended by
        Amendment No. 1 thereto dated as of November 14, 2001, each between Citibank
        Credit Card Issuance Trust (the "Issuer") and Deutsche Bank Trust Company
        Americas, as trustee (the "Indenture"). Capitalized terms used herein that
        are
        not otherwise defined have the meanings set forth in the Indenture. All
        references herein to designated Sections are to the designated Sections of
        the
        Indenture.

      

      Section
        301(h) provides that the Issuer may from time to time create a tranche of
        Notes
        either by or pursuant to an Issuer Certificate setting forth the principal
        terms
        thereof. Pursuant to this Issuer Certificate, there is hereby created a tranche
        of Notes having the following terms:

      

      Series
        Designation:
        Citiseries. This series is included in Group 1.

      

      Tranche
        Designation:
        $200,000,000 5.00% Class 2007-B2 Notes of April 2010 (Legal Maturity Date
        April
        2012) (hereinafter, the "Class 2007-B2 Notes")

      

      Currency:
        The
        Class 2007-B2 Notes will be payable, and denominated, in Dollars.

      

      Denominations:
        The
        Class 2007-B2 Notes will be issuable in minimum denominations of $100,000
        and
        multiples of $1,000 in excess of that amount. 

      

      Issuance
        Date:
        April
        2, 2007

      

      Initial
        Principal Amount:
        $200,000,000

      

      Issue
        Price:
        99.948%

      

      Interest
        Rate:
        5.00%
        per annum, calculated on the basis of a 360-day year of twelve 30-day
        months.

      

      Scheduled
        Interest Payment Dates:
        The 2nd
        day of each April and October, beginning October 2007.

      

      Each
        payment of interest on the Class 2007-B2 Notes will include all interest
        accrued
        from and including the preceding Interest Payment Date -- or, for the first
        interest period, from and including the Issuance Date -- to and including
        the
        day preceding the current Interest Payment Date, plus any interest accrued
        but
        not previously paid.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      The
        first
        deposit targeted to be made to the Interest Funding sub-Account for the Class
        2007-B2 Notes will be on the May 2, 2007 Interest Deposit Date and in an
        amount
        equal to $833,333.33.

      

      Expected
        Principal Payment Date:
        April
        2, 2010

      

      Legal
        Maturity Date:
        April
        2, 2012

      

      Monthly
        Principal Date: For
        the
        month in which the Expected Principal Payment Date occurs, April 2, 2010,
        and
        for each other month, the 2nd day of such month, or if such day is not a
        Business Day, the next following Business Day.

      

      Required
        Subordinated Amount of Class B Notes:
        Not
        applicable.

      

      Required
        Subordinated Amount of Class C Notes:
        $266,666,660, subject to the provisions of Section 312(a)(iii) of the
        Indenture.

      

      Controlled
        Accumulation Amount:
        Not
        applicable.

      

      Form
        of Notes:
        The
        Class 2007-B2 Notes will be issued as Global Notes. The Global Notes will
        initially be registered in the name of Cede & Co., as nominee of The
        Depository Trust Company, and will be exchangeable for individual Notes only
        in
        accordance with the provisions of Section 204(c).

      

      Additional
        Issuances of Class 2007-B2 Notes:
        The
        Issuer may at any time and from time to time issue additional Class 2007-B2
        Notes, subject to the satisfaction of (i) the conditions precedent set forth
        in
        Section 311(a) and (ii) the following conditions:

      

      (a)
        the
        Issuer has obtained written confirmation from each Rating Agency that there
        will
        be no Ratings Effect with respect to the then outstanding Class 2007-B2 Notes
        as
        a result of the issuance of such additional Class 2007-B2 Notes;

      

      (b)
        as of
        the date of issuance of the additional Class 2007-B2 Notes, all amounts due
        and
        owing to the Holders of the then outstanding Class 2007-B2 Notes have been
        paid
        and there is no Nominal Liquidation Amount Deficit with respect to the then
        outstanding Class 2007-B2 Notes;

      

      (c)
        the
        additional Class 2007-B2 Notes will be fungible with the original Class 2007-B2
        Notes for federal income tax purposes; and

      

      (d)
        if
        Holders of the then outstanding Class 2007-B2 Notes have benefit of a Derivative
        Agreement, the Issuer will have obtained a Derivative Agreement for the benefit
        of the Holders of the additional Class 2007-B2 Notes.

      

      As
        of the
        date of issuance of additional Class 2007-B2 Notes, the Outstanding Dollar
        Principal Amount and Nominal Liquidation Amount of the Class 2007-B2 Notes
        will
        be increased to reflect the Initial Dollar Principal Amount of the additional
        Class 2007-B2 Notes. 

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      Any
        outstanding Class 2007-B2 Notes and any additional Class 2007-B2 Notes will
        be
        equally and ratably entitled to the benefits of the Indenture without
        preference, priority or distinction.

      

      Optional
        Redemption Provisions other than Section 1202 "Clean-Up
        Call":
        None

      

      Additional
        Early Redemption Events or changes to Early Redemption
        Events:
        None

      

      Additional
        Events of Default or changes to Events of Default:
        None

      

      Business
        Day:
        means
        any day other than (a) a Saturday or Sunday or (b) any other day on which
        national banking associations or state banking institutions in New York,
        New
        York or South Dakota, or any other state in which the principal executive
        offices of any Additional Seller are located, are authorized or obligated
        by
        law, executive order or governmental decree to be closed.

      

      Securities
        Exchange Listing:
        Application will be made to list the Class 2007-B2 Notes on the Irish Stock
        Exchange.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      The
        Class
        2007-B2 Notes shall have such other terms as are set forth in the form of
        Note
        attached hereto as Exhibit A. Pursuant to Section 202, the form of Note attached
        hereto has been approved by the Issuer.

      

      

      
        	 	
                CITIBANK
                  CREDIT CARD ISSUANCE TRUST

              
	 	
                By
                   Citibank
                  (South Dakota), National Association,

              
	 	
                as
                  Managing Beneficiary

              
	 	 
	 	 
	 	 
	 	
                /s/
                  Douglas C. Morrison 

                ---------------------------------------------

              
	 	
                Douglas
                  C. Morrison

              
	 	
                Vice
                  President

              

      

      

      Dated:
        April 2, 2007

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      Citiseries

      Class
        2007-B2 Notes

      

      Reference
        is made to the resolutions adopted by the Board of Directors of Citibank
        (South
        Dakota), National Association ("Citibank (South Dakota)") on April 26, 2000,
        as
        amended on September 25, 2001 and October 25, 2006. The resolutions authorize
        Citibank (South Dakota) from time to time to issue and sell, or to arrange
        for
        or participate in the issuance and sale of, one or more series and/or classes
        of
        pass-through certificates, participation certificates, commercial paper,
        notes
        or other securities representing ownership interests in, or backed by, pools
        of
        credit card receivables or interests therein ("Receivables") in an aggregate
        principal amount such that up to $125,000,000,000 of such certificates,
        commercial paper, notes or securities are outstanding at any one time and
        to
        sell, transfer, convey or assign Receivables to trusts or other special purpose
        entities in connection therewith on such terms as to be determined by the
        Citibank (South Dakota) Pricing and Loan Committee (the "Pricing and Loan
        Committee").

      

      The
        undersigned, a duly authorized member of the Pricing and Loan Committee,
        on
        behalf of such Pricing and Loan Committee, does hereby certify that the terms
        of
        the tranche of Notes set forth in and to be created by the preceding Issuer
        Certificate and the increase in the Invested Amount of the Collateral
        Certificate resulting from the issuance of such Notes have been approved
        by such
        Pricing and Loan Committee. In addition, the following underwriting/selling
        agent terms with respect to this tranche of Notes have been approved by such
        Pricing and Loan Committee:

      

      Issue
        Price: 99.948%

      

      Underwriting
        Commission: 0.225%

      

      Proceeds
        to Issuer: 99.723%

      

      Representative
        of the Underwriters: Citigroup Global Markets Inc.

      

      

      The
        preceding Issuer Certificate and this certification of Pricing and Loan
        Committee approval shall be, continuously from the time of their execution,
        official records of Citibank (South Dakota).

      

      

      /s/
        Douglas C. Morrison

      ----------------------------------------

      
        	
                Douglas
                  C. Morrison

              
	
                Member
                  of the Pricing and Loan Committee

              
	
                Citibank
                  (South Dakota), National
                  Association

              

      

      

      

      Dated:
        April 2, 2007

      

      
        
          
            

            

            

          

           

        

        
          5

          
            

          

        

        
           

          
          

        

      

      Exhibit
        A

      

      FORM
        OF

      

      CITISERIES

      

      5.00%
        CLASS 2007-B2 NOTES OF APRIL 2010

      (Legal
        Maturity Date April 2012)

      

      

      $200,000,000         REGISTERED

      CUSIP
        No.
        17305E DR 3       No.
        R-1

      

      UNLESS
        THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST
        COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
        IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
        AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
        TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
        ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
        ANY
        PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
        AN INTEREST HEREIN.

      

      THE
        PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE INDENTURE
        REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS
        NOTE AT
        ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

      

      

      CITIBANK
        CREDIT CARD ISSUANCE TRUST

      

      CITISERIES

      

      5.00%
        CLASS 2007-B2 NOTES OF APRIL 2010

      (Legal
        Maturity Date April 2012)

      

      

      CITIBANK
        CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of
        the
        State of Delaware (including any successor, the "Issuer"), for value received,
        hereby promises to pay to CEDE & CO., or its registered assigns, the
        principal amount of TWO HUNDRED MILLION DOLLARS ($200,000,000). The Expected
        Principal Payment Date for this Note is April 2, 2010. The Legal Maturity
        Date
        for this Note is April 2, 2012.

      

      The
        Issuer hereby promises to pay interest on this Note at the rate of 5.00%
        per
        annum on the 2nd day of each April and October, beginning October 2007, until
        the principal of this Note is paid or made available for payment, subject
        to
        certain limitations set forth in the Indenture. Interest will accrue on the
        principal amount of this Note outstanding on the preceding Interest Payment
        Date
        (after giving effect to any payments of principal made on the preceding Interest
        Payment Date), or with respect to the first Interest Payment Date, the initial
        principal amount of this Note. Interest will accrue from April 2, 2007 and
        be
        computed on the basis of a 360-day year of twelve 30-day months.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      If
        any
        Interest Payment Date or Principal Payment Date of this Note falls on a day
        that
        is not a Business Day, the required payment of interest or principal will
        be
        made on the following Business Day.

      

      This
        Note
        is one of the Citiseries, Class 2007-B2 Notes issued pursuant to the Indenture,
        dated as of September 26, 2000 (as amended and otherwise modified from time
        to
        time, the "Indenture") between the Issuer and Deutsche Bank Trust Company
        Americas, as Trustee. For purposes of this Note, the term "Indenture" includes
        any supplemental indenture or Issuer Certificate relating to the Citiseries,
        Class 2007-B2 Notes. This Note is subject to all of the terms of the Indenture.
        All terms used in this Note that are not otherwise defined herein and that
        are
        defined in the Indenture will have the meanings assigned to them
        therein.

      

      The
        principal of and interest on this Note are payable in such coin or currency
        of
        the United States of America as at the time of payment is legal tender for
        payment of public and private debts.

      

      Each
        Holder by acceptance of this Note, and each owner of a beneficial interest
        in
        this Note by acceptance of a beneficial interest in this Note, is deemed
        to have
        consented to such amendments to the Pooling and Servicing Agreement and other
        operative documents as are necessary to permit the Seller to retain sale
        treatment for accounting purposes of the transfer of assets to the Master
        Trust,
        in accordance with the provisions of Financial Accounting Standards Board
        SFAS
        No. 140.

      

      Reference
        is made to the further provisions of this Note set forth on the reverse hereof,
        which will have the same effect as though fully set forth on the face of
        this
        Note.

      

      Unless
        the certificate of authentication hereon has been executed by the Trustee
        whose
        name appears below by manual signature, this Note will not 

      

      

      

      

      

      

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      be
        entitled to any benefit under the Indenture, or be valid or obligatory for
        any
        purpose.

      

      IN
        WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually
        or
        in facsimile, by an Issuer Authorized Officer.

      

      
        	 	
                CITIBANK
                  CREDIT CARD ISSUANCE TRUST

              
	 	 
	 	
                By: CITIBANK
                  (SOUTH DAKOTA),

              
	 	
                NATIONAL
                  ASSOCIATION,

              
	 	
                as
                  Managing Beneficiary of

              
	 	
                Citibank
                  Credit Card Issuance Trust

              
	 	 
	 	 
	 	
                By:
                  __________________________________

              
	 	
                Douglas
                  C. Morrison

              
	 	
                Vice
                  President

              

      

      

      Dated:
        April 2, 2007

      

      

      

      

      TRUSTEE'S
        CERTIFICATE OF AUTHENTICATION

      

      

      This
        is
        one of the Notes designated above and referred to in the within mentioned
        Indenture.

      

      

      
        	 	
                DEUTSCHE
                  BANK TRUST COMPANY AMERICAS,

              
	 	
                as
                  Trustee under the Indenture

              
	 	 
	 	 
	 	
                By:
                  _________________________________

              
	 	
                Authorized
                  Signatory

              

      

      

      Dated:
        April 2, 2007

      

      

      

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      REVERSE
        OF NOTE

      

      This
        Note
        is one of a duly authorized issue of Notes of the Issuer, designated as its
        Citiseries 5.00% Class 2007-B2 Notes of April 2010 (Legal Maturity Date April
        2012) (herein called the "Notes"), all issued under an Indenture, to which
        Indenture reference is hereby made for a statement of the respective rights
        and
        obligations thereunder of the Issuer, the Trustee and the Holders of the
        Notes.

      

      This
        Note
        ranks pari passu with all other Class B Notes of the same series, and this
        Note
        is subordinated to Class A Notes of the same series, as set forth in the
        Indenture. This Note is secured to the extent, and by the collateral, described
        in the Indenture.

      

      The
        Issuer will pay interest on overdue interest as set forth in the Indenture
        to
        the extent lawful.

      

      Each
        Holder by acceptance of this Note, and each owner of a beneficial interest
        in
        this Note by acceptance of a beneficial interest in this Note, agrees that
        no
        recourse may be taken, directly or indirectly, with respect to the obligations
        of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer
        Trustee, Citibank (South Dakota), the Trustee or any affiliate, officer,
        employee or director of any of them, and the obligation of the Issuer to
        pay
        principal of or interest on this Note or any other amount payable to the
        Holder
        of this Note will be subject to Article V of the Indenture.

      

      Each
        Holder by acceptance of this Note, and each owner of a beneficial interest
        in
        this Note by acceptance of a beneficial interest in this Note, agrees that
        this
        Note is intended to be debt of Citibank (South Dakota) for federal, state
        and
        local income and franchise tax purposes, and agrees to treat this Note
        accordingly for all such purposes, unless otherwise required by a taxing
        authority.

      

      Each
        Holder by acceptance of this Note, and each owner of a beneficial interest
        in
        this Note by acceptance of a beneficial interest in this Note, agrees that
        it
        will not at any time institute against the Issuer, or join in any institution
        against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency
        or liquidation proceeding, or other proceedings under any United States federal
        or state bankruptcy or similar law in connection with any obligations relating
        to this Note, the Indenture or any Derivative Agreement.

      

      This
        Note
        and the Indenture will be construed in accordance with and governed by the
        laws
        of the State of New York.

      

      No
        reference herein to the Indenture and no provision of this Note or of the
        Indenture will alter or impair the obligation of the Issuer, which is absolute
        and unconditional, to pay the principal of and interest on this Note at the
        times, place and rate, and in the coin or currency, herein
        prescribed.

      

      Certain
        amendments may be made to the Indenture without the consent of the Holder
        of
        this Note. This Note must be surrendered for final payment of principal and
        interest.

      

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      ASSIGNMENT

      

      

      Social
        Security or taxpayer I.D. or other identifying number of
        assignee:____________________

      

      FOR
        VALUE
        RECEIVED, the undersigned hereby sells, assigns and transfers unto

      

      ___________________________________________________________________

      

      ___________________________________________________________________

      (name
        and
        address of assignee)

      

      the
        within Note and all rights thereunder, and hereby irrevocably constitutes
        and
        appoints __________________________________________________________, attorney,
        to transfer said Note on the books kept for registration thereof, with full
        power of substitution in the premises.

      

      Dated:
        ____________________________ _________________________*

      Signature
        Guaranteed:

      

      

      

      

      ----------------

      *
        NOTE:
        The signature to this assignment must correspond with the name of the registered
        owner as it appears on the face of the within Note in every particular without
        alteration, enlargement or any change whatsoever.

      

      

      

      
 

      5

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