FOR IMMEDIATE RELEASE
January 12, 1999

Citigroup to Redeem Preferred Stock, Series J

New York — Citigroup announced today that on Feb. 11, 1999 it will redeem for cash all outstanding shares of its 8.08% Cumulative Preferred Stock, Series J. The redemption price will be $25 per depositary share, plus accrued dividends to the date of redemption.
 
Currently $200 million of this preferred stock is outstanding.
 
The Series J Preferred Stock was issued in 1993 by Salomon Inc, which in 1997 merged with a subsidiary of Travelers Group Inc., which in turn merged with Citicorp on Oct. 8, 1998 to form Citigroup.
 
Shares are to be surrendered for payment of principal plus accrued dividends to Citibank, N.A., as redemption agent, for payment of the redemption price as follows: If by hand: Citibank, N.A., 111 Wall Street, 5th Floor Receive Window, New York, N.Y. If by mail: Citibank, N.A., P.O. Box 1009, Paramus, NJ 07653. If by overnight courier: Citibank, N.A., 400 Sette Drive, Paramus, N.J., 07652.

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