FOR IMMEDIATE RELEASE
July 19, 2000

Citigroup Declares 4-for-3 Stock Split, Announces Increase in Quarterly Dividend and Authorization for Stock Repurchase

New York, NY — The Board of Directors of Citigroup (NYSE: C) has declared a 4-for-3 split in the company's common stock, in the form of a 33 1/3% stock dividend, payable on August 25, 2000, to stockholders of record on August 7, 2000.

          The Board also approved an increase in the quarterly cash dividend to 14 cents per share on a post-split basis, payable on August 25, 2000, to stockholders of record on August 7, 2000. This reflects a 16 2/3% increase in the cash dividend since the last increase in January 2000 and an aggregate increase in the cash dividend during the year 2000 of 33 1/3%.

          Approval also was granted for repurchase of an additional $5 billion of Citigroup common stock, continuing the company's program of buying shares primarily to fund employee benefit plans.

          Sanford I. Weill, Chairman and Chief Executive Officer, said, "This stock split, combined with our May 1999 action, has the effect of a 2-for-1 split in a little over a year and the dividend increase is the second since the beginning of 2000. These Board actions reflect the great confidence we have in the future of our company and, above all, our commitment to delivering the benefits of our progress to shareholders."

          The Board also declared dividends on preferred stock as follows:

• Series F, payable September 1, 2000, to holders of record on August 15, 2000. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.795625 for each receipt held.
   
• Series G, payable September 1, 2000, to holders of record on August 15, 2000. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.776625 for each receipt held.
   
• Series H, payable November 1, 2000, to holders of record on October 15, 2000. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.778875 for each receipt held.
   
• Series K, payable September 30, 2000, to holders of record on September 15, 2000. Holders of depositary receipts, each representing one-twentieth of a full preferred share, will be paid $.525 for each receipt held.
   
• Series M, payable November 1, 2000, to holders of record on October 15, 2000. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.733 for each receipt held.
   
• Series Q, payable August 31, 2000, to holders of record on August 15, 2000. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.338625 for each receipt held.
   
• Series R, payable August 31, 2000, to holders of record on August 15, 2000. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.338625 for each receipt held.
   
• Series U, payable August 15, 2000, to holders of record on July 31, 2000. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.484375 for each receipt held.
   
• Series V, payable August 15, 2000, to holders of record on July 31, 2000. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.7325 for each receipt held.

          The quarterly cash dividend on the common stock on a pre-split basis would be 18 2/3 cents.

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