Robert E. Rubin Joins Citigroup

New York — Mr. Robert E. Rubin, former U.S. Secretary of the Treasury, has been elected to the Board of Directors of Citigroup, the Company announced today.

          Mr. Rubin will serve as Chairman of the Executive Committee of the Board and will work with Mr. Reed and Mr. Weill, Chairmen and Co-Chief Executive Officers, in a newly constituted three-person office of the Chairman.

          Mr. Reed and Mr. Weill said: "Bob's expertise, skills and professional judgment are exactly matched to our worldwide business strategy and we are delighted that he has agreed to join us. As a member of the Office of the Chairman, Bob will participate in strategic managerial and operational matters of the Company, but will have no line responsibilities."

          Separate from his responsibilities with the Company, Mr. Rubin will continue to maintain his personal involvement in public policy issues, including serving as Chairman of the Local Initiative Support Corporation, and as a member of the Board of Mt. Sinai Medical Center, and may serve on corporate or advisory boards or in other similar capacities that do not conflict with his new responsibilities at Citigroup.

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