FOR IMMEDIATE RELEASE
November 9, 1998

Citigroup Authorizes $2 Billion Stock Repurchase Program

New York — Citigroup today announced that an $2.0 billion has been authorized for repurchase of its common stock. The repurchases will be used primarily to fund employee benefit plans.

          Citigroup, one of the world's largest diversified, integrated financial services companies, was formed on October 8, 1998 by the merger of Citicorp and Travelers Group Inc. Travelers Group had repurchased approximately $2 billion of its common stock in 1998.

          Citigroup is engaged in investment services, insurance services and consumer finance through operating units which included Salomon Smith Barney, Salomon Smith Barney Asset Management, Travelers Life & Annuity, Primerica Financial Services, Travelers Property Casualty Corp. (NYSE:TAP) and Commercial Credit.

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