FOR IMMEDIATE RELEASE
March 16, 1999

William Rhodes Appointed Vice Chairman of Citigroup

New York — The Board of Directors of Citigroup today appointed William R. Rhodes a Vice Chairman.

          In announcing the appointment, the Board noted Mr. Rhodes's career-long experience with emerging markets, which are a major focus for not only Citibank, but for all of Citigroup's businesses. Mr. Rhodes, who joined Citibank in 1957, will continue as Vice Chairman and Senior International Officer for Citicorp and Citibank.

          Mr. Rhodes has specific responsibilities for client relationships in emerging markets worldwide as well as for relationships with governments and other official institutions. He also is responsible for appointing Citigroup's senior country officers and is the senior officer on risk management and credit for all the company's businesses.

          In announcing the appointment, John S. Reed and Sanford I. Weill, Chairmen and Co-Chief Executive Officers, said, "This appointment recognizes Bill's extraordinary knowledge, experience and accomplishments internationally over the years and underlines the opportunities Citigroup sees for prudent growth in emerging markets in the years ahead."

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