UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): May 19, 2005

                  Citibank (South Dakota), National Association
                                  on behalf of
                       Citibank Credit Card Master Trust I
          (Issuer in respect of the Citibank Credit Card Master Trust I
       7.25% Class A Credit Card Participation Certificates, Series 1994-2
       7.50% Class B Credit Card Participation Certificates, Series 1994-2
       6.55% Class A Credit Card Participation Certificates, Series 1995-9
       6.65% Class B Credit Card Participation Certificates, Series 1995-9
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class A Credit Card Participation Certificates, Series 1997-4
   Floating Rate Class B Credit Card Participation Certificates, Series 1997-4
       6.05% Class A Credit Card Participation Certificates, Series 1998-2
       6.20% Class B Credit Card Participation Certificates, Series 1998-2
      5.875% Class A Credit Card Participation Certificates, Series 1999-2
      6.150% Class B Credit Card Participation Certificates, Series 1999-2
       6.10% Class A Credit Card Participation Certificates, Series 1999-5
       6.30% Class B Credit Card Participation Certificates, Series 1999-5
               Credit Card Participation Certificate, Series 2000
                       (collectively, the "Certificates"))
               (Exact name of registrant as specified in charter)

      United States of America                       46-0358360
    (State or other jurisdiction        (I.R.S. Employer Identification No.)
          of incorporation)

      33-41055, 33-43576, 33-62180, 33-77802, 33-84834, 33-97664, 33-99328,
      333-38803, 333-80743, 333-52984, 333-91326, 333-103013 and 333-121228
                            (Commission File Numbers)

         701 East 60th Street, North
          Sioux Falls, South Dakota                            57117
    (Address of principal executive offices)                (Zip Code)

       Registrant's telephone number, including area code: (605) 331-2626

  (Former name or former address, if changed since last report): Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))


<PAGE>

Item 8.01     Other Events.

     The following information relates to the credit card receivables owned by
Citibank Credit Card Master Trust I and the related credit card accounts. Some
of the terms used herein are used as defined in the Glossary of Terms at the end
of this Report.

Loss and Delinquency Experience

     The following table sets forth the loss experience for cardholder payments
on the credit card accounts for each of the periods shown. Losses consist of
write-offs of principal receivables. These losses are presented below on a cash
basis. The Net Loss percentage calculated for each period below is obtained by
dividing Net Losses by the Average Principal Receivables Outstanding multiplied
by a fraction, the numerator of which is the total number of days in the
applicable calendar year and the denominator of which is the total number of
days in the trust monthly reporting periods for the applicable period (365/90
for the three months ended March 28, 2005, and 366/368, 365/365 and 365/365 for
the years ended December 28, 2004, December 31, 2003 and December 31, 2002,
respectively).

     If accrued finance charge receivables that have been written off were
included in losses, Net Losses would be higher as an absolute number and as a
percentage of the average of principal and finance charge receivables
outstanding during the periods indicated. Average Principal Receivables
Outstanding is the average of principal receivables outstanding during the
periods indicated. There can be no assurance that the loss experience for the
receivables in the future will be similar to the historical experience set forth
below.

                        Loss Experience for the Accounts
                             (Dollars in Thousands)

                           Three Months    Year Ended   Year Ended   Year Ended
                          Ended March 28, December 28, December 31, December 31,
                               2005           2004         2003         2002
                               ----           ----         ----         ----
Average Principal
  Receivables Outstanding .. $77,030,850  $76,750,306  $75,707,275  $64,285,548

Net Losses .................    $980,385   $4,586,941   $4,746,884   $3,588,849

Net Losses as a Percentage
  of Average Principal
  Receivables Outstanding ..       5.16%        5.94%        6.27%        5.58%


     Net losses as a percentage of gross charge-offs for the three months ended
March 28, 2005 were 84.37% and for each of the years ended December 28, 2004,
December 31, 2003 and December 31, 2002 were 90.53%, 92.79% and 92.63%,
respectively. Gross charge-offs are charge-offs before recoveries and do not
include the amount of any reductions in Average Principal Receivables
Outstanding due to fraud, returned goods, customer disputes or various other
miscellaneous write-offs.

     The following table sets forth the delinquency experience for cardholder
payments on the credit card accounts, after giving effect to the March lump
addition and removal described below, for each of the periods shown. The
Delinquent Amount includes both principal receivables and finance charge
receivables. The percentages are the result of dividing the Delinquent Amount by
the average of principal and finance charge receivables outstanding during the
periods indicated. There can be no assurance that the delinquency experience for
the receivables in the future will be similar to the historical experience set
forth below.


                                       2


<PAGE>

<TABLE>
<CAPTION>

                                    Delinquencies as a Percentage of the Accounts
                                               (Dollars in Thousands)


                               As of                     As of                      As of                     As of
                          March 26, 2005           December 25, 2004          December 31, 2003         December 31, 2002
                          --------------           -----------------          -----------------         -----------------

Number of Days        Delinquent                Delinquent                Delinquent                Delinquent
Delinquent              Amount    Percentage      Amount    Percentage      Amount    Percentage      Amount    Percentage
----------              ------    ----------      ------    ----------      ------    ----------      ------    ----------
<S>                   <C>            <C>       <C>             <C>        <C>            <C>        <C>            <C>
35-64 days .......      $843,438     1.08%       $896,856      1.15%      $1,146,055     1.49%      $1,080,847     1.66%
65-94 days .......       598,029     0.77         626,967      0.81          777,690     1.01          743,485     1.14
95 days or more ..     1,216,888     1.56       1,321,233      1.70        1,585,414     2.07        1,494,694     2.29
                       ---------     ----       ---------      ----        ---------     ----
Total ............    $2,658,355     3.40%     $2,845,056      3.66%      $3,509,159     4.57%      $3,319,026     5.09%

</TABLE>


Revenue Experience

     The revenues for the credit card accounts from finance charges, fees paid
by cardholders and interchange for the three months ended March 28, 2005 and for
each of the years ended December 28, 2004, December 31, 2003 and December 31,
2002 are set forth in the following table. The revenue experience in this table
is presented on a cash basis before deduction for charge-offs. Average Revenue
Yield calculated for each period below is obtained by dividing Finance Charges
and Fees Paid by Average Principal Receivables Outstanding multiplied by a
fraction, the numerator of which is the total number of days in the applicable
calendar year and the denominator of which is the total number of days in the
trust monthly reporting periods for the applicable period (365/90 for the three
months ended March 28, 2005, and 366/368, 365/365 and 365/365 for the years
ended December 28, 2004, December 31, 2003 and December 31, 2002, respectively).

     Revenues from finance charges, fees and interchange will be affected by
numerous factors, including the periodic finance charge on the credit card
receivables, the amount of any annual membership fee, other fees paid by
cardholders, the percentage of cardholders who pay off their balances in full
each month and do not incur periodic finance charges on purchases, the
percentage of credit card accounts bearing finance charges at promotional rates
and changes in the level of delinquencies on the receivables.


                       Revenue Experience for the Accounts
                             (Dollars in Thousands)

                        Three Months     Year Ended    Year Ended    Year Ended
                       Ended March 28,  December 28,  December 31,  December 31,
                            2005            2004          2003          2002
                            ----            ----          ----          ----
Finance Charges
  and Fees Paid ......... $2,911,452   $11,866,155    $11,461,816    $9,739,411
Average Revenue Yield ...   15.33%        15.38%         15.14%        15.15%

     The revenues from periodic finance charges and fees -- other than annual
fees -- depend in part upon the collective preference of cardholders to use
their credit cards as revolving debt instruments for purchases and cash advances
and to pay account balances over several months -- as opposed to convenience
use, where cardholders pay off their entire balance each month, thereby avoiding
periodic finance charges on their purchases -- and upon other card-related
services for which the cardholder pays a fee. Revenues from periodic finance
charges and fees also depend on the types of charges and fees assessed on the
credit card accounts. Accordingly, revenues will be affected by future changes
in the types of charges and fees assessed on the accounts and in the types of
additional accounts added from time to time. These revenues could be adversely
affected by future changes in fees and charges assessed on the accounts and
other factors.


                                       3

<PAGE>

Cardholder Monthly Payment Rates

     The following table sets forth the highest and lowest cardholder monthly
payment rates for the credit card accounts during any month in the periods shown
and the average of the cardholder monthly payment rates for all months during
the periods shown, in each case calculated as a percentage of the total
beginning account balances for that month. Monthly payment rates on the credit
card receivables may vary because, among other things, a cardholder may fail to
make a required payment, may only make the minimum required payment or may pay
the entire outstanding balance. Monthly payment rates on the receivables may
also vary due to seasonal purchasing and payment habits of cardholders. Monthly
payment rates include amounts that would be deemed payments of principal
receivables and finance charge receivables with respect to the accounts. In
addition, the amount of outstanding receivables and the rates of payments,
delinquencies, charge-offs and new borrowings on the accounts depend on a
variety of factors including seasonal variations, the availability of other
sources of credit, general economic conditions, tax laws, consumer spending and
borrowing patterns and the terms of the accounts, which may change.


                Cardholder Monthly Payment Rates for the Accounts


                        Three Months     Year Ended    Year Ended    Year Ended
                       Ended March 28,  December 28,  December 31,  December 31,
                            2005            2004          2003          2002
                            ----            ----          ----          ----
Lowest Month ............. 17.28%          16.86%        16.16%        16.29%
Highest Month ............ 20.13%          19.41%        19.23%        20.35%
Average of the
  Months in the Period ... 18.65%          18.41%        17.76%        18.43%


Interchange

     Creditors participating in the MasterCard International and VISA
associations receive interchange as partial compensation for taking credit risk,
absorbing fraud losses and funding receivables for a limited period before
initial billing. Under the MasterCard International and VISA systems, a portion
of this interchange in connection with cardholder charges for merchandise and
services is passed from banks which clear the transactions for merchants to
credit card-issuing banks. Interchange ranges from approximately 1% to 2% of the
transaction amount. Citibank (South Dakota) is required to transfer to the
master trust interchange attributed to cardholder charges for merchandise and
services in the accounts. In general, interchange is allocated to the master
trust on the basis of the ratio that the amount of cardholder charges for
merchandise and services in the accounts bears to the total amount of cardholder
charges for merchandise and services in the portfolio of credit card accounts
maintained by Citibank (South Dakota). MasterCard International and VISA may
change the amount of interchange reimbursed to banks issuing their credit cards.

The Credit Card Receivables

     The receivables in the credit card accounts as of March 26, 2005, after
giving effect to the March lump addition and removal described below, included
$1,083,572,275 of finance charge receivables and $77,270,573,472 of principal
receivables -- which amounts include overdue finance charge receivables and
overdue principal receivables. As of March 26, 2005, and after giving effect to
the March lump addition and removal described below, there were 65,299,091
accounts. Included within the accounts are inactive accounts that have no
balance. The accounts had an average principal receivable balance of $1,183 and
an average credit limit of $7,897. The average principal receivable balance in
the accounts as a percentage of the average credit limit with respect to the
accounts was approximately 15%. Approximately 97% of the


                                       4

<PAGE>

accounts were opened before March 2003. Of the accounts, approximately 12.72%
related to cardholders with billing addresses in California, 9.08% in New York,
6.33% in Texas, 6.23% in Florida, and 5.00% in Pennsylvania. Not more than 5% of
the accounts related to cardholders having billing addresses in any other single
state.

     The credit card accounts include receivables which, in accordance with the
servicer's normal servicing policies, were charged-off as uncollectible.
However, for purposes of calculation of the amount of principal receivables and
finance charge receivables in the master trust for any date, the balance of the
charged-off receivables is zero and the master trust owns only the right to
receive recoveries on these receivables.

     The following tables summarize the credit card accounts (after giving
effect to the March lump addition and removal described below) by various
criteria as of March 26, 2005. References to "Receivables Outstanding" in these
tables include both finance charge receivables and principal receivables.
Because the composition of the accounts will change in the future, these tables
are not necessarily indicative of the future composition of the accounts.

     Credit balances presented in the following table are a result of cardholder
payments and credit adjustments applied in excess of a credit card account's
unpaid balance. Accounts which have a credit balance are included because
receivables may be generated in these accounts in the future. Credit card
accounts which have no balance are included because receivables may be generated
in these accounts in the future.


                   Composition of Accounts by Account Balance

                                           Percentage                Percentage
                                            of Total                  of Total
                                Number of   Number of  Receivables   Receivables
        Account Balance         Accounts    Accounts   Outstanding   Outstanding
        ---------------         ---------   ---------  -----------   -----------

Credit Balance................     435,162     0.67%   $ (79,321,281)   -0.10%
No Balance ...................  44,850,282    68.70                0     0.00
Less than or equal to $500.00.   5,193,026     7.95      907,701,249     1.16
$500.01 to $1,000.00..........   2,074,975     3.18    1,527,804,742     1.95
$1,000.01 to $2,000.00........   2,643,622     4.05    3,874,117,410     4.94
$2,000.01 to $3,000.00........   1,857,004     2.84    4,609,241,907     5.88
$3,000.01 to $4,000.00........   1,453,502     2.23    5,067,946,622     6.47
$4,000.01 to $5,000.00........   1,222,749     1.87    5,496,040,057     7.02
$5,000.01 to $6,000.00........     975,648     1.49    5,354,920,444     6.83
$6,000.01 to $7,000.00........     805,857     1.23    5,229,051,970     6.67
$7,000.01 to $8,000.00........     662,267     1.01    4,958,639,791     6.33
$8,000.01 to $9,000.00........     544,872     0.83    4,625,513,570     5.90
$9,000.01 to $10,000.00.......     456,293     0.70    4,329,403,839     5.53
Over $10,000.00...............   2,123,832     3.25   32,453,085,427    41.42
                                 ---------     ----   --------------    -----
Total.........................  65,299,091   100.00% $78,354,145,747   100.00%



                                       5

<PAGE>

                     Composition of Accounts by Credit Limit

                                          Percentage                 Percentage
                                           of Total                   of Total
                               Number of   Number of   Receivables   Receivables
         Credit Limit          Accounts    Accounts    Outstanding   Outstanding
         ------------          ---------   --------    -----------   -----------

Less than or equal to $500.00.  3,771,005    5.77%  $    36,629,788      0.05%
$500.01 to $1,000.00..........  2,726,177    4.17       200,016,724      0.26
$1,000.01 to $2,000.00........  5,240,667    8.03       822,032,010      1.05
$2,000.01 to $3,000.00........  4,655,306    7.13     1,364,115,685      1.74
$3,000.01 to $4,000.00........  3,948,486    6.05     1,764,987,396      2.25
$4,000.01 to $5,000.00........  6,109,964    9.36     2,713,643,423      3.46
$5,000.01 to $6,000.00........  4,874,730    7.47     2,732,260,163      3.49
$6,000.01 to $7,000.00........  4,533,278    6.94     3,135,679,308      4.00
$7,000.01 to $8,000.00........  4,470,772    6.85     3,370,555,502      4.30
$8,000.01 to $9,000.00........  3,610,160    5.53     3,352,666,880      4.28
$9,000.01 to $10,000.00.......  3,715,895    5.69     3,768,053,807      4.81
$10,000.01 to $15,000.00......  9,750,864   14.93    16,643,019,019     21.24
Over $15,000.00...............  7,891,787   12.08    38,450,486,042     49.07
                                ---------   -----    --------------     -----
Total......................... 65,299,091  100.00%  $78,354,145,747    100.00%


     Accounts presented in the table below as "Current" include accounts on
which the minimum payment has not been received before the next billing date
following the issuance of the related bill.


                    Composition of Accounts by Payment Status

                                          Percentage                 Percentage
                                           of Total                   of Total
                               Number of   Number of    Receivables  Receivables
      Payment Status           Accounts    Accounts     Outstanding  Outstanding
      --------------           ---------   --------     -----------  -----------

Current.....................  64,275,883    98.43%   $73,089,592,494    93.28%
Up to 34 days delinquent....     567,602     0.87      2,606,198,401     3.33
35 to 64 days delinquent....     162,921     0.25        843,437,911     1.08
65 to 94 days delinquent....     101,914     0.16        598,028,846     0.76
95 to 124 days delinquent...      73,215     0.11        457,289,279     0.58
125 to 154 days delinquent..      63,073     0.10        400,539,726     0.51
155 to 184 days delinquent..      54,483     0.08        359,059,090     0.46
                                  ------     ----        -----------     ----
Total.......................  65,299,091   100.00%   $78,354,145,747   100.00%



                                       6

<PAGE>

                         Composition of Accounts by Age

                                           Percentage                Percentage
                                            of Total                  of Total
                                Number of   Number of   Receivables  Receivables
         Age                    Accounts    Accounts    Outstanding  Outstanding
         ---                    ---------   --------    -----------  -----------

Less than or equal to 6 months.    145,031    0.22%     $ 241,711,493     0.31%
Over 6 months to 12 months.....    989,339    1.52      1,795,127,371     2.29
Over 12 months to 24 months....  1,034,401    1.58      1,641,905,150     2.10
Over 24 months to 36 months....  4,920,356    7.54      6,462,107,850     8.25
Over 36 months to 48 months....  4,380,757    6.71      6,584,261,692     8.40
Over 48 months................. 53,829,207   82.43     61,629,032,191    78.65
                                ----------   -----     --------------    -----
Total.......................... 65,299,091  100.00%   $78,354,145,747   100.00%


Billing and Payments

     The credit card accounts have different billing and payment structures,
including different periodic finance charges and fees. The following information
reflects the current billing and payment characteristics of the accounts.

     Each month, billing statements are sent to cardholders who had activity
during the immediately preceding billing period. To the extent a cardholder has
a balance due, the cardholder must make a minimum payment equal to the sum of

     (1)  the amount which is past due plus any amount which is in excess of the
          credit limit,

     (2)  if the account is a combined credit card and a separate AT&T calling
          card, the sum of all calling transactions posted to the account in the
          current billing period, and

     (3)  for most accounts, the new balance on the billing statement if it is
          less than $20, or $20, if the new balance is at least $20 and not
          greater than $960, or if the new balance exceeds $960, 1/48th of the
          new balance.

The required minimum payment, however, cannot be less than the finance charges
billed plus any billed late fees. For most accounts, if the minimum payment due
equals the finance charges billed plus any billed late fees or if any balance
has a rate of more than 19.99% imposed on it, $5 will be added to the minimum
due.

     Consistent with changes in industry practice based on regulatory guidance,
during calendar year 2005 Citibank (South Dakota) will change the minimum
payment calculation for its credit card accounts. This change will result in an
increase in the minimum monthly payment requirement for some accounts. This
change to the minimum payment calculation is likely to result in an increase in
delinquencies and charge-offs on the credit card accounts, however, the
potential impact cannot be determined with reasonable certainty at this time.

     A periodic finance charge is imposed on the credit card accounts. The
periodic finance charge imposed on balances for purchases and cash advances for
a majority of the accounts is calculated by multiplying (1) the daily balances
for each day during the billing cycle by (2) the applicable daily periodic
finance charge rate, and summing the results for each day in the billing period.
The daily balance is calculated by taking the previous day's balance, adding any
new purchases or cash advances and fees, adding the daily finance charge on the
previous day's balance, and subtracting any payments or credits. Cash advances
are included in the daily balance from the date the advances are made. Purchases
are included in the daily balance generally from the date of purchase. Periodic
finance charges are not imposed in most circumstances on


                                       7

<PAGE>

purchase amounts if all balances shown in the previous billing statement are
paid in full by the due date indicated on the statement.

     No finance charge is imposed on calling card transactions in the billing
cycle in which the transactions are posted to the account. The receivables
represented by these charges are not part of the master trust's assets. However,
any charge for calling card transactions that is not paid by the payment due
date on the monthly statement in which it is billed is added to the daily
balance of purchases on the first day of the next billing cycle. These unpaid
calling card transactions, and any finance charges on these unpaid transactions,
then become receivables that are part of the master trust's assets.

     The periodic finance charge imposed on balances in most credit card
accounts for purchases is currently the Prime Rate, as published in The Wall
Street Journal, plus a percentage ranging from 4.99% to 11.99%. As of the most
recent reset date, the periodic finance charge on balances in most accounts for
purchases ranged from 10.99% to 17.99%. The periodic finance charge imposed on
balances in most credit card accounts for cash advances is currently the greater
of 19.99% or the sum of the Prime Rate and 14.99%. If a cardholder defaults
under their credit card agreement, the periodic finance charge assessed on all
balances in their account can be increased to the Prime Rate plus up to 23.99%.
Promotional rates of limited duration are offered from time to time to attract
new cardholders and to promote balance transfers from other credit card issuers
and the periodic finance charge on a limited number of accounts may be greater
or less than those generally assessed on the accounts.

     The periodic finance charge on accounts may be changed at any time by
providing prior written notice to cardholders. Any increase in the finance
charge will become effective upon the earlier of subsequent use of a card and
the expiration of a 25-day period from the date the change was made effective --
assuming failure on the part of the cardholder to object to the new rate.

     Most of the accounts are subject to additional fees, including:

     o    a late fee if the cardholder does not make the required minimum
          payment by the payment date shown on the monthly billing statement.
          The late fee is $15 on balances up to $100, $29 on balances of $100 up
          to $1,000 and $39 on balances of $1,000 and over;

     o    a cash advance fee which is generally equal to 3.0% of the amount of
          the cash advance, subject to a minimum fee of $5;

     o    a balance transfer fee of 3.0% of the amount transferred to the
          account, subject to a minimum fee of $5 and a maximum fee of $75;

     o    a fee on purchases made in a foreign currency which is generally equal
          to 3.0% of the amount of the purchase, after its conversion into U.S.
          dollars;

     o    a returned payment fee of $29;

     o    a returned check fee of $29;

     o    a stop payment fee of $29; and

     o    a fee of $35 for each billing period with respect to each account with
          an outstanding balance over the credit limit established for that
          account.

There can be no assurance that periodic finance charges, fees and other charges
will remain at current levels in the future.

     Payments by cardholders on the accounts are processed and applied first to
all minimum amounts due. Payments in excess of the minimum amount due are
applied to balances associated with low periodic rates before balances
associated with higher periodic rates.


                                       8

<PAGE>

Lump Addition and Removal

     Citibank (South Dakota), National Association transferred $2,425,992,578 of
credit card receivables to Citibank Credit Card Master Trust I in a lump
addition on March 26, 2005. The receivables consisted of $2,393,028,822 of
principal receivables and $32,963,756 of finance charge receivables.

     Citibank (South Dakota), National Association and Citibank (Nevada),
National Association removed $135,195,376 of credit card receivables from
Citibank Credit Card Master Trust I in a lump removal on March 26, 2005. The
removed receivables consisted of $134,316,195 of principal receivables and
$879,181 of finance charge receivables.



                                       9

<PAGE>

                                GLOSSARY OF TERMS

"accounts" means the portfolio of revolving credit card accounts established and
supplemented in accordance with the pooling and servicing agreement.

"additional accounts" consist of newly originated eligible accounts to be
included as accounts and accounts relating to any lump sum additions.

"Banks" means Citibank (South Dakota), National Association, a national banking
association, and Citibank (Nevada), National Association, a national banking
association.

"eligible accounts" An "eligible account" is defined to mean a revolving credit
card account owned by Citibank (South Dakota), any additional seller or any
other affiliate thereof which, as of the master trust cut-off date with respect
to an initial account or as of the additional cut-off date with respect to an
additional account: (a) is in existence and maintained by Citibank (South
Dakota), the additional seller or the other affiliate; (b) is payable in United
States dollars; (c) in the case of the initial accounts, has a cardholder who
has provided, as his most recent billing address, an address located in the
United States or its territories or possessions or a military address; (d) has a
cardholder who has not been identified by Citibank (South Dakota), the
additional seller or the other affiliate in its computer files as being involved
in a voluntary or involuntary bankruptcy proceeding; (e) has not been identified
as an account with respect to which the related card has been lost or stolen;
(f) has not been sold or pledged to any other party except for any sale to any
seller, additional seller or other affiliate; (g) does not have receivables
which have been sold or pledged to any other party other than any sale to any
seller, additional seller or other affiliate; and (h) in the case of the initial
accounts, is a VISA or MasterCard revolving credit card account.

"finance charge receivables" consist of all periodic finance charges, annual
membership fees, cash advance fees and late charges on amounts charged for
merchandise and services and some other fees designated by the Banks. In
addition, some interchange attributed to cardholder charges for merchandise and
services in the accounts will be treated as finance charge receivables.

"interchange" means interchange fees payable to Citibank (South Dakota) or any
additional seller or other affiliate which has designated accounts to the master
trust, in its capacity as credit card issuer, through VISA, MasterCard or any
other similar entity or organization with respect to any other type of revolving
credit card accounts included as accounts (except as otherwise provided in the
initial assignment with respect to any such other type of accounts), in
connection with cardholder charges for goods and services.

"lump sum addition" means the designation of additional eligible accounts to be
included as accounts pursuant to Section 2.09(a) or (b) of the pooling and
servicing agreement.

"master trust" means Citibank Credit Card Master Trust I.



                                       10

<PAGE>


"pooling and servicing agreement" means the Amended and Restated Pooling and
Servicing Agreement dated as of October 5, 2001, among the Banks and Deutsche
Bank Trust Company Americas (formerly Bankers Trust Company), as trustee,
including all amendments thereto.

"principal receivables" consist of all amounts charged by cardholders for
merchandise and services, amounts advanced to cardholders as cash advances and
some fees billed to cardholders on the accounts.

"receivables" means all amounts shown on the servicer's records as amounts
payable by the person or persons obligated to make payments with respect to the
accounts.

"Receivables Outstanding" as defined on page 5.




                                       11

<PAGE>

                                   SIGNATURES

               Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                         CITIBANK (SOUTH DAKOTA),
                                         NATIONAL ASSOCIATION,
                                         as Servicer
                                         (Registrant)


                                    By:  /s/ Douglas C. Morrison
                                         -----------------------
                                             Douglas C. Morrison
                                             Vice President


Dated:  May 19, 2005


                                       12
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): May 19, 2005

                  Citibank (South Dakota), National Association
                                  on behalf of
                       Citibank Credit Card Master Trust I
          (Issuer in respect of the Citibank Credit Card Master Trust I
       7.25% Class A Credit Card Participation Certificates, Series 1994-2
       7.50% Class B Credit Card Participation Certificates, Series 1994-2
       6.55% Class A Credit Card Participation Certificates, Series 1995-9
       6.65% Class B Credit Card Participation Certificates, Series 1995-9
   Floating Rate Class A Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class B Credit Card Participation Certificates, Series 1996-6
   Floating Rate Class A Credit Card Participation Certificates, Series 1997-4
   Floating Rate Class B Credit Card Participation Certificates, Series 1997-4
       6.05% Class A Credit Card Participation Certificates, Series 1998-2
       6.20% Class B Credit Card Participation Certificates, Series 1998-2
      5.875% Class A Credit Card Participation Certificates, Series 1999-2
      6.150% Class B Credit Card Participation Certificates, Series 1999-2
       6.10% Class A Credit Card Participation Certificates, Series 1999-5
       6.30% Class B Credit Card Participation Certificates, Series 1999-5
               Credit Card Participation Certificate, Series 2000
                       (collectively, the "Certificates"))
               (Exact name of registrant as specified in charter)

      United States of America                       46-0358360
    (State or other jurisdiction        (I.R.S. Employer Identification No.)
          of incorporation)

      33-41055, 33-43576, 33-62180, 33-77802, 33-84834, 33-97664, 33-99328,
      333-38803, 333-80743, 333-52984, 333-91326, 333-103013 and 333-121228
                            (Commission File Numbers)

         701 East 60th Street, North
          Sioux Falls, South Dakota                            57117
    (Address of principal executive offices)                (Zip Code)

       Registrant's telephone number, including area code: (605) 331-2626

  (Former name or former address, if changed since last report): Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 8.01     Other Events.

     The following information relates to the credit card receivables owned by
Citibank Credit Card Master Trust I and the related credit card accounts. Some
of the terms used herein are used as defined in the Glossary of Terms at the end
of this Report.

Loss and Delinquency Experience

     The following table sets forth the loss experience for cardholder payments
on the credit card accounts for each of the periods shown. Losses consist of
write-offs of principal receivables. These losses are presented below on a cash
basis. The Net Loss percentage calculated for each period below is obtained by
dividing Net Losses by the Average Principal Receivables Outstanding multiplied
by a fraction, the numerator of which is the total number of days in the
applicable calendar year and the denominator of which is the total number of
days in the trust monthly reporting periods for the applicable period (365/90
for the three months ended March 28, 2005, and 366/368, 365/365 and 365/365 for
the years ended December 28, 2004, December 31, 2003 and December 31, 2002,
respectively).

     If accrued finance charge receivables that have been written off were
included in losses, Net Losses would be higher as an absolute number and as a
percentage of the average of principal and finance charge receivables
outstanding during the periods indicated. Average Principal Receivables
Outstanding is the average of principal receivables outstanding during the
periods indicated. There can be no assurance that the loss experience for the
receivables in the future will be similar to the historical experience set forth
below.

                        Loss Experience for the Accounts
                             (Dollars in Thousands)

                           Three Months    Year Ended   Year Ended   Year Ended
                          Ended March 28, December 28, December 31, December 31,
                               2005           2004         2003         2002
                               ----           ----         ----         ----
Average Principal
  Receivables Outstanding .. $77,030,850  $76,750,306  $75,707,275  $64,285,548

Net Losses .................    $980,385   $4,586,941   $4,746,884   $3,588,849

Net Losses as a Percentage
  of Average Principal
  Receivables Outstanding ..       5.16%        5.94%        6.27%        5.58%

     Net losses as a percentage of gross charge-offs for the three months ended
March 28, 2005 were 84.37% and for each of the years ended December 28, 2004,
December 31, 2003 and December 31, 2002 were 90.53%, 92.79% and 92.63%,
respectively. Gross charge-offs are charge-offs before recoveries and do not
include the amount of any reductions in Average Principal Receivables
Outstanding due to fraud, returned goods, customer disputes or various other
miscellaneous write-offs.

     The following table sets forth the delinquency experience for cardholder
payments on the credit card accounts, after giving effect to the March lump
addition and removal described below, for each of the periods shown. The
Delinquent Amount includes both principal receivables and finance charge
receivables. The percentages are the result of dividing the Delinquent Amount by
the average of principal and finance charge receivables outstanding during the
periods indicated. There can be no assurance that the delinquency experience for
the receivables in the future will be similar to the historical experience set
forth below.

                                       2
Delinquencies as a Percentage of the Accounts
                                               (Dollars in Thousands)

                               As of                     As of                      As of                     As of
                          March 26, 2005           December 25, 2004          December 31, 2003         December 31, 2002
                          --------------           -----------------          -----------------         -----------------

Number of Days        Delinquent                Delinquent                Delinquent                Delinquent
Delinquent              Amount    Percentage      Amount    Percentage      Amount    Percentage      Amount    Percentage
----------              ------    ----------      ------    ----------      ------    ----------      ------    ----------
35-64 days .......      $843,438     1.08%       $896,856      1.15%      $1,146,055     1.49%      $1,080,847     1.66%
65-94 days .......       598,029     0.77         626,967      0.81          777,690     1.01          743,485     1.14
95 days or more ..     1,216,888     1.56       1,321,233      1.70        1,585,414     2.07        1,494,694     2.29
                       ---------     ----       ---------      ----        ---------     ----
Total ............    $2,658,355     3.40%     $2,845,056      3.66%      $3,509,159     4.57%      $3,319,026     5.09%
Revenue Experience

     The revenues for the credit card accounts from finance charges, fees paid
by cardholders and interchange for the three months ended March 28, 2005 and for
each of the years ended December 28, 2004, December 31, 2003 and December 31,
2002 are set forth in the following table. The revenue experience in this table
is presented on a cash basis before deduction for charge-offs. Average Revenue
Yield calculated for each period below is obtained by dividing Finance Charges
and Fees Paid by Average Principal Receivables Outstanding multiplied by a
fraction, the numerator of which is the total number of days in the applicable
calendar year and the denominator of which is the total number of days in the
trust monthly reporting periods for the applicable period (365/90 for the three
months ended March 28, 2005, and 366/368, 365/365 and 365/365 for the years
ended December 28, 2004, December 31, 2003 and December 31, 2002, respectively).

     Revenues from finance charges, fees and interchange will be affected by
numerous factors, including the periodic finance charge on the credit card
receivables, the amount of any annual membership fee, other fees paid by
cardholders, the percentage of cardholders who pay off their balances in full
each month and do not incur periodic finance charges on purchases, the
percentage of credit card accounts bearing finance charges at promotional rates
and changes in the level of delinquencies on the receivables.

                       Revenue Experience for the Accounts
                             (Dollars in Thousands)

                        Three Months     Year Ended    Year Ended    Year Ended
                       Ended March 28,  December 28,  December 31,  December 31,
                            2005            2004          2003          2002
                            ----            ----          ----          ----
Finance Charges
  and Fees Paid ......... $2,911,452   $11,866,155    $11,461,816    $9,739,411
Average Revenue Yield ...   15.33%        15.38%         15.14%        15.15%

     The revenues from periodic finance charges and fees -- other than annual
fees -- depend in part upon the collective preference of cardholders to use
their credit cards as revolving debt instruments for purchases and cash advances
and to pay account balances over several months -- as opposed to convenience
use, where cardholders pay off their entire balance each month, thereby avoiding
periodic finance charges on their purchases -- and upon other card-related
services for which the cardholder pays a fee. Revenues from periodic finance
charges and fees also depend on the types of charges and fees assessed on the
credit card accounts. Accordingly, revenues will be affected by future changes
in the types of charges and fees assessed on the accounts and in the types of
additional accounts added from time to time. These revenues could be adversely
affected by future changes in fees and charges assessed on the accounts and
other factors.

                                       3
Cardholder Monthly Payment Rates

     The following table sets forth the highest and lowest cardholder monthly
payment rates for the credit card accounts during any month in the periods shown
and the average of the cardholder monthly payment rates for all months during
the periods shown, in each case calculated as a percentage of the total
beginning account balances for that month. Monthly payment rates on the credit
card receivables may vary because, among other things, a cardholder may fail to
make a required payment, may only make the minimum required payment or may pay
the entire outstanding balance. Monthly payment rates on the receivables may
also vary due to seasonal purchasing and payment habits of cardholders. Monthly
payment rates include amounts that would be deemed payments of principal
receivables and finance charge receivables with respect to the accounts. In
addition, the amount of outstanding receivables and the rates of payments,
delinquencies, charge-offs and new borrowings on the accounts depend on a
variety of factors including seasonal variations, the availability of other
sources of credit, general economic conditions, tax laws, consumer spending and
borrowing patterns and the terms of the accounts, which may change.

                Cardholder Monthly Payment Rates for the Accounts

                        Three Months     Year Ended    Year Ended    Year Ended
                       Ended March 28,  December 28,  December 31,  December 31,
                            2005            2004          2003          2002
                            ----            ----          ----          ----
Lowest Month ............. 17.28%          16.86%        16.16%        16.29%
Highest Month ............ 20.13%          19.41%        19.23%        20.35%
Average of the
  Months in the Period ... 18.65%          18.41%        17.76%        18.43%

Interchange

     Creditors participating in the MasterCard International and VISA
associations receive interchange as partial compensation for taking credit risk,
absorbing fraud losses and funding receivables for a limited period before
initial billing. Under the MasterCard International and VISA systems, a portion
of this interchange in connection with cardholder charges for merchandise and
services is passed from banks which clear the transactions for merchants to
credit card-issuing banks. Interchange ranges from approximately 1% to 2% of the
transaction amount. Citibank (South Dakota) is required to transfer to the
master trust interchange attributed to cardholder charges for merchandise and
services in the accounts. In general, interchange is allocated to the master
trust on the basis of the ratio that the amount of cardholder charges for
merchandise and services in the accounts bears to the total amount of cardholder
charges for merchandise and services in the portfolio of credit card accounts
maintained by Citibank (South Dakota). MasterCard International and VISA may
change the amount of interchange reimbursed to banks issuing their credit cards.

The Credit Card Receivables

     The receivables in the credit card accounts as of March 26, 2005, after
giving effect to the March lump addition and removal described below, included
$1,083,572,275 of finance charge receivables and $77,270,573,472 of principal
receivables -- which amounts include overdue finance charge receivables and
overdue principal receivables. As of March 26, 2005, and after giving effect to
the March lump addition and removal described below, there were 65,299,091
accounts. Included within the accounts are inactive accounts that have no
balance. The accounts had an average principal receivable balance of $1,183 and
an average credit limit of $7,897. The average principal receivable balance in
the accounts as a percentage of the average credit limit with respect to the
accounts was approximately 15%. Approximately 97% of the

                                       4
accounts were opened before March 2003. Of the accounts, approximately 12.72%
related to cardholders with billing addresses in California, 9.08% in New York,
6.33% in Texas, 6.23% in Florida, and 5.00% in Pennsylvania. Not more than 5% of
the accounts related to cardholders having billing addresses in any other single
state.

     The credit card accounts include receivables which, in accordance with the
servicer's normal servicing policies, were charged-off as uncollectible.
However, for purposes of calculation of the amount of principal receivables and
finance charge receivables in the master trust for any date, the balance of the
charged-off receivables is zero and the master trust owns only the right to
receive recoveries on these receivables.

     The following tables summarize the credit card accounts (after giving
effect to the March lump addition and removal described below) by various
criteria as of March 26, 2005. References to "Receivables Outstanding" in these
tables include both finance charge receivables and principal receivables.
Because the composition of the accounts will change in the future, these tables
are not necessarily indicative of the future composition of the accounts.

     Credit balances presented in the following table are a result of cardholder
payments and credit adjustments applied in excess of a credit card account's
unpaid balance. Accounts which have a credit balance are included because
receivables may be generated in these accounts in the future. Credit card
accounts which have no balance are included because receivables may be generated
in these accounts in the future.

                   Composition of Accounts by Account Balance

                                           Percentage                Percentage
                                            of Total                  of Total
                                Number of   Number of  Receivables   Receivables
        Account Balance         Accounts    Accounts   Outstanding   Outstanding
        ---------------         ---------   ---------  -----------   -----------

Credit Balance................     435,162     0.67%   $ (79,321,281)   -0.10%
No Balance ...................  44,850,282    68.70                0     0.00
Less than or equal to $500.00.   5,193,026     7.95      907,701,249     1.16
$500.01 to $1,000.00..........   2,074,975     3.18    1,527,804,742     1.95
$1,000.01 to $2,000.00........   2,643,622     4.05    3,874,117,410     4.94
$2,000.01 to $3,000.00........   1,857,004     2.84    4,609,241,907     5.88
$3,000.01 to $4,000.00........   1,453,502     2.23    5,067,946,622     6.47
$4,000.01 to $5,000.00........   1,222,749     1.87    5,496,040,057     7.02
$5,000.01 to $6,000.00........     975,648     1.49    5,354,920,444     6.83
$6,000.01 to $7,000.00........     805,857     1.23    5,229,051,970     6.67
$7,000.01 to $8,000.00........     662,267     1.01    4,958,639,791     6.33
$8,000.01 to $9,000.00........     544,872     0.83    4,625,513,570     5.90
$9,000.01 to $10,000.00.......     456,293     0.70    4,329,403,839     5.53
Over $10,000.00...............   2,123,832     3.25   32,453,085,427    41.42
                                 ---------     ----   --------------    -----
Total.........................  65,299,091   100.00% $78,354,145,747   100.00%

                                       5
Composition of Accounts by Credit Limit

                                          Percentage                 Percentage
                                           of Total                   of Total
                               Number of   Number of   Receivables   Receivables
         Credit Limit          Accounts    Accounts    Outstanding   Outstanding
         ------------          ---------   --------    -----------   -----------

Less than or equal to $500.00.  3,771,005    5.77%  $    36,629,788      0.05%
$500.01 to $1,000.00..........  2,726,177    4.17       200,016,724      0.26
$1,000.01 to $2,000.00........  5,240,667    8.03       822,032,010      1.05
$2,000.01 to $3,000.00........  4,655,306    7.13     1,364,115,685      1.74
$3,000.01 to $4,000.00........  3,948,486    6.05     1,764,987,396      2.25
$4,000.01 to $5,000.00........  6,109,964    9.36     2,713,643,423      3.46
$5,000.01 to $6,000.00........  4,874,730    7.47     2,732,260,163      3.49
$6,000.01 to $7,000.00........  4,533,278    6.94     3,135,679,308      4.00
$7,000.01 to $8,000.00........  4,470,772    6.85     3,370,555,502      4.30
$8,000.01 to $9,000.00........  3,610,160    5.53     3,352,666,880      4.28
$9,000.01 to $10,000.00.......  3,715,895    5.69     3,768,053,807      4.81
$10,000.01 to $15,000.00......  9,750,864   14.93    16,643,019,019     21.24
Over $15,000.00...............  7,891,787   12.08    38,450,486,042     49.07
                                ---------   -----    --------------     -----
Total......................... 65,299,091  100.00%  $78,354,145,747    100.00%

     Accounts presented in the table below as "Current" include accounts on
which the minimum payment has not been received before the next billing date
following the issuance of the related bill.

                    Composition of Accounts by Payment Status

                                          Percentage                 Percentage
                                           of Total                   of Total
                               Number of   Number of    Receivables  Receivables
      Payment Status           Accounts    Accounts     Outstanding  Outstanding
      --------------           ---------   --------     -----------  -----------

Current.....................  64,275,883    98.43%   $73,089,592,494    93.28%
Up to 34 days delinquent....     567,602     0.87      2,606,198,401     3.33
35 to 64 days delinquent....     162,921     0.25        843,437,911     1.08
65 to 94 days delinquent....     101,914     0.16        598,028,846     0.76
95 to 124 days delinquent...      73,215     0.11        457,289,279     0.58
125 to 154 days delinquent..      63,073     0.10        400,539,726     0.51
155 to 184 days delinquent..      54,483     0.08        359,059,090     0.46
                                  ------     ----        -----------     ----
Total.......................  65,299,091   100.00%   $78,354,145,747   100.00%

                                       6
Composition of Accounts by Age

                                           Percentage                Percentage
                                            of Total                  of Total
                                Number of   Number of   Receivables  Receivables
         Age                    Accounts    Accounts    Outstanding  Outstanding
         ---                    ---------   --------    -----------  -----------

Less than or equal to 6 months.    145,031    0.22%     $ 241,711,493     0.31%
Over 6 months to 12 months.....    989,339    1.52      1,795,127,371     2.29
Over 12 months to 24 months....  1,034,401    1.58      1,641,905,150     2.10
Over 24 months to 36 months....  4,920,356    7.54      6,462,107,850     8.25
Over 36 months to 48 months....  4,380,757    6.71      6,584,261,692     8.40
Over 48 months................. 53,829,207   82.43     61,629,032,191    78.65
                                ----------   -----     --------------    -----
Total.......................... 65,299,091  100.00%   $78,354,145,747   100.00%

Billing and Payments

     The credit card accounts have different billing and payment structures,
including different periodic finance charges and fees. The following information
reflects the current billing and payment characteristics of the accounts.

     Each month, billing statements are sent to cardholders who had activity
during the immediately preceding billing period. To the extent a cardholder has
a balance due, the cardholder must make a minimum payment equal to the sum of

     (1)  the amount which is past due plus any amount which is in excess of the
          credit limit,

     (2)  if the account is a combined credit card and a separate AT&T calling
          card, the sum of all calling transactions posted to the account in the
          current billing period, and

     (3)  for most accounts, the new balance on the billing statement if it is
          less than $20, or $20, if the new balance is at least $20 and not
          greater than $960, or if the new balance exceeds $960, 1/48th of the
          new balance.

The required minimum payment, however, cannot be less than the finance charges
billed plus any billed late fees. For most accounts, if the minimum payment due
equals the finance charges billed plus any billed late fees or if any balance
has a rate of more than 19.99% imposed on it, $5 will be added to the minimum
due.

     Consistent with changes in industry practice based on regulatory guidance,
during calendar year 2005 Citibank (South Dakota) will change the minimum
payment calculation for its credit card accounts. This change will result in an
increase in the minimum monthly payment requirement for some accounts. This
change to the minimum payment calculation is likely to result in an increase in
delinquencies and charge-offs on the credit card accounts, however, the
potential impact cannot be determined with reasonable certainty at this time.

     A periodic finance charge is imposed on the credit card accounts. The
periodic finance charge imposed on balances for purchases and cash advances for
a majority of the accounts is calculated by multiplying (1) the daily balances
for each day during the billing cycle by (2) the applicable daily periodic
finance charge rate, and summing the results for each day in the billing period.
The daily balance is calculated by taking the previous day's balance, adding any
new purchases or cash advances and fees, adding the daily finance charge on the
previous day's balance, and subtracting any payments or credits. Cash advances
are included in the daily balance from the date the advances are made. Purchases
are included in the daily balance generally from the date of purchase. Periodic
finance charges are not imposed in most circumstances on

                                       7
purchase amounts if all balances shown in the previous billing statement are
paid in full by the due date indicated on the statement.

     No finance charge is imposed on calling card transactions in the billing
cycle in which the transactions are posted to the account. The receivables
represented by these charges are not part of the master trust's assets. However,
any charge for calling card transactions that is not paid by the payment due
date on the monthly statement in which it is billed is added to the daily
balance of purchases on the first day of the next billing cycle. These unpaid
calling card transactions, and any finance charges on these unpaid transactions,
then become receivables that are part of the master trust's assets.

     The periodic finance charge imposed on balances in most credit card
accounts for purchases is currently the Prime Rate, as published in The Wall
Street Journal, plus a percentage ranging from 4.99% to 11.99%. As of the most
recent reset date, the periodic finance charge on balances in most accounts for
purchases ranged from 10.99% to 17.99%. The periodic finance charge imposed on
balances in most credit card accounts for cash advances is currently the greater
of 19.99% or the sum of the Prime Rate and 14.99%. If a cardholder defaults
under their credit card agreement, the periodic finance charge assessed on all
balances in their account can be increased to the Prime Rate plus up to 23.99%.
Promotional rates of limited duration are offered from time to time to attract
new cardholders and to promote balance transfers from other credit card issuers
and the periodic finance charge on a limited number of accounts may be greater
or less than those generally assessed on the accounts.

     The periodic finance charge on accounts may be changed at any time by
providing prior written notice to cardholders. Any increase in the finance
charge will become effective upon the earlier of subsequent use of a card and
the expiration of a 25-day period from the date the change was made effective --
assuming failure on the part of the cardholder to object to the new rate.

     Most of the accounts are subject to additional fees, including:

     o    a late fee if the cardholder does not make the required minimum
          payment by the payment date shown on the monthly billing statement.
          The late fee is $15 on balances up to $100, $29 on balances of $100 up
          to $1,000 and $39 on balances of $1,000 and over;

     o    a cash advance fee which is generally equal to 3.0% of the amount of
          the cash advance, subject to a minimum fee of $5;

     o    a balance transfer fee of 3.0% of the amount transferred to the
          account, subject to a minimum fee of $5 and a maximum fee of $75;

     o    a fee on purchases made in a foreign currency which is generally equal
          to 3.0% of the amount of the purchase, after its conversion into U.S.
          dollars;

     o    a returned payment fee of $29;

     o    a returned check fee of $29;

     o    a stop payment fee of $29; and

     o    a fee of $35 for each billing period with respect to each account with
          an outstanding balance over the credit limit established for that
          account.

There can be no assurance that periodic finance charges, fees and other charges
will remain at current levels in the future.

     Payments by cardholders on the accounts are processed and applied first to
all minimum amounts due. Payments in excess of the minimum amount due are
applied to balances associated with low periodic rates before balances
associated with higher periodic rates.

                                       8
Lump Addition and Removal

     Citibank (South Dakota), National Association transferred $2,425,992,578 of
credit card receivables to Citibank Credit Card Master Trust I in a lump
addition on March 26, 2005. The receivables consisted of $2,393,028,822 of
principal receivables and $32,963,756 of finance charge receivables.

     Citibank (South Dakota), National Association and Citibank (Nevada),
National Association removed $135,195,376 of credit card receivables from
Citibank Credit Card Master Trust I in a lump removal on March 26, 2005. The
removed receivables consisted of $134,316,195 of principal receivables and
$879,181 of finance charge receivables.

                                       9
GLOSSARY OF TERMS

"accounts" means the portfolio of revolving credit card accounts established and
supplemented in accordance with the pooling and servicing agreement.

"additional accounts" consist of newly originated eligible accounts to be
included as accounts and accounts relating to any lump sum additions.

"Banks" means Citibank (South Dakota), National Association, a national banking
association, and Citibank (Nevada), National Association, a national banking
association.

"eligible accounts" An "eligible account" is defined to mean a revolving credit
card account owned by Citibank (South Dakota), any additional seller or any
other affiliate thereof which, as of the master trust cut-off date with respect
to an initial account or as of the additional cut-off date with respect to an
additional account: (a) is in existence and maintained by Citibank (South
Dakota), the additional seller or the other affiliate; (b) is payable in United
States dollars; (c) in the case of the initial accounts, has a cardholder who
has provided, as his most recent billing address, an address located in the
United States or its territories or possessions or a military address; (d) has a
cardholder who has not been identified by Citibank (South Dakota), the
additional seller or the other affiliate in its computer files as being involved
in a voluntary or involuntary bankruptcy proceeding; (e) has not been identified
as an account with respect to which the related card has been lost or stolen;
(f) has not been sold or pledged to any other party except for any sale to any
seller, additional seller or other affiliate; (g) does not have receivables
which have been sold or pledged to any other party other than any sale to any
seller, additional seller or other affiliate; and (h) in the case of the initial
accounts, is a VISA or MasterCard revolving credit card account.

"finance charge receivables" consist of all periodic finance charges, annual
membership fees, cash advance fees and late charges on amounts charged for
merchandise and services and some other fees designated by the Banks. In
addition, some interchange attributed to cardholder charges for merchandise and
services in the accounts will be treated as finance charge receivables.

"interchange" means interchange fees payable to Citibank (South Dakota) or any
additional seller or other affiliate which has designated accounts to the master
trust, in its capacity as credit card issuer, through VISA, MasterCard or any
other similar entity or organization with respect to any other type of revolving
credit card accounts included as accounts (except as otherwise provided in the
initial assignment with respect to any such other type of accounts), in
connection with cardholder charges for goods and services.

"lump sum addition" means the designation of additional eligible accounts to be
included as accounts pursuant to Section 2.09(a) or (b) of the pooling and
servicing agreement.

"master trust" means Citibank Credit Card Master Trust I.

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"pooling and servicing agreement" means the Amended and Restated Pooling and
Servicing Agreement dated as of October 5, 2001, among the Banks and Deutsche
Bank Trust Company Americas (formerly Bankers Trust Company), as trustee,
including all amendments thereto.

"principal receivables" consist of all amounts charged by cardholders for
merchandise and services, amounts advanced to cardholders as cash advances and
some fees billed to cardholders on the accounts.

"receivables" means all amounts shown on the servicer's records as amounts
payable by the person or persons obligated to make payments with respect to the
accounts.

"Receivables Outstanding" as defined on page 5.

                                       11
SIGNATURES

               Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                         CITIBANK (SOUTH DAKOTA),
                                         NATIONAL ASSOCIATION,
                                         as Servicer
                                         (Registrant)

                                    By:  /s/ Douglas C. Morrison
                                         -----------------------
                                             Douglas C. Morrison
                                             Vice President

Dated:  May 19, 2005

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