Citigroup

FOR IMMEDIATE RELEASE
August 11, 1999

Citigroup Names Andrew Ditton Director of its New Center for Community Development Enterprise

New York - Citigroup has named Andrew Ditton as Director of its new Center for Community Development Enterprise for the U.S. In this position, he is responsible for continuing and expanding the capacity of Citigroup's community development lending and investing. Mr. Ditton will be based in New York City

Mr. Ditton comes to Citigroup with a long and impressive financial background in community development. For 13 years, he was with the Local Initiatives Support Corporation (LISC), a leading national non-profit financial intermediary that works with local Community Development Corporations (CDCs) providing loans, grants and technical expertise to redevelop neighborhoods. Over the past twenty years, LISC has raised $3 billion for these CDCs. During his time at LISC, Ditton was Chief Operating Officer and Chief Credit Officer for eight years. Prior to LISC, he was with Neighborhood Housing Services in Chicago. Most recently, Ditton ran his own real estate development and syndication business focusing on affordable housing and mixed use urban projects.

"We are very pleased to have Andy, who has proven expertise and a deep commitment to community development, lead our new Center," said Pamela P. Flaherty, who oversees Citigroup's Global Community Relations. "Citigroup recognizes that community development lending and investing are critical components in building and rebuilding neighborhoods and he will help us further our efforts to build a world class reputation both locally and nationally as a leader in the field."

Citigroup announced its intention to create the Center for Community Development Enterprise as part of the $115 billion community commitment it made in 1998. Working with local and community partners, the Center will lend and invest $6 billion over the next 10 years. It will continue the company's current strategy of working closely with local and national partners and will keep the community development lenders in local markets. The Center will combine creative financing techniques, technical assistance, organizational capacity building, and long-term capital support to build communities. It will draw on the expertise and capacity of the various businesses of Citigroup. Typical projects will include those that create small businesses and jobs, develop affordable housing, and provide financing for non-profit community facilities, such as child care centers.

Citigroup is the world's most global financial services organization. Citigroup's consumer businesses cover a broad range of financial services in 57 countries — retail and private banking, credit and charge cards, mortgage lending, consumer lending, personal financial planning, personal insurance and investment brokerage and counseling. These services are marketed through Citibank, Commercial Credit, Primerica, Travelers Life & Annuity and Travelers Property Casualty. Today Citigroup serves over 100 million customers — including consumers, businesses, governments and financial institutions — in 100 countries and territories.

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Citigroup (NYSE: C), the preeminent global financial services company with some 190 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers. The Citigroup Foundation focuses its grants primarily on community development and education, along with arts and culture, health and human services, and the environment. Additional information may be found at: www.citigroup.com.