Citigroup Increases Stake in Nikko Securities

Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit (now named CitiFinancial), and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.citigroup.com.


	Printer Friendly Page		FOR IMMEDIATE RELEASE Citigroup Inc. (NYSE symbol: C) March 23, 2000 Citigroup Increases Stake in Nikko Securities New York, NY — Citigroup announced today that it will increase its shareholding in Nikko Securities from 9.5 percent to approximately 20 percent by converting a portion of its convertible bonds, effective March 28, 2000. Sanford I. Weill, Chairman and Co-CEO of Citigroup, said: "Doubling our common shareholding in Nikko Securities reflects our deep commitment to our strategic partnership with Nikko Securities. We could not be more pleased with the performance of Nikko Securities since we made our investment a year and a half ago. Nikko Salomon Smith Barney (NSSB) has also performed exceptionally, and as we celebrate the one year anniversary of our joint venture, we're quite proud that NSSB has already become the #1 underwriter of Japanese equities. We look forward to continuing a great partnership." Citigroup invested $1.6 billion in Nikko Securities in August 1998 in the form of a 9.5 percent shareholding and a bond convertible into 15.5 percent of Nikko stock. The balance of the convertible bond will be sold gradually over the next five years, subject to certain conditions. # # # Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit (now named CitiFinancial), and Primerica under Citigroup's trademark red umbrella. Additional information may be found at: www.citigroup.com.