SSB Citi and FORTUNE Announce Index Funds Based on FORTUNE 500 and FORTUNE e-50 Benchmarks

FOR IMMEDIATE RELEASE
November 13, 2000

SSB Citi and FORTUNE Announce Index Funds Based on FORTUNE 500 and FORTUNE e-50 Benchmarks

Funds Offered on New Cititrade Online Brokerage Platform

New York, NY — SSB Citi Asset Management Group and FORTUNE today announced that FORTUNE has licensed SSB Citi to introduce open-end index mutual funds pegged to the FORTUNE 500(R) and FORTUNE e-50(TM) stock indexes. The funds are expected to be offered to investors beginning November 27 on Citigroup 's new online brokerage platform, called Cititrade. These no-load funds will be branded the Citi FORTUNE 500 Index Fund and the Citi FORTUNE e-50 Index Fund.

"We are honored to offer index funds based upon FORTUNE's respected, well-recognized stock indexes. We feel they are powerful benchmarks for investors who desire exposure to large-cap stocks and promising new economy stocks," said Thomas W. Jones, CEO of SSB Citi. "Our firm's goal is to provide world-class investment products to our customers. And we feel these index funds certainly fit that bill."

Jack Haire, President of The FORTUNE Group, said, "We are very pleased to be working with SSB Citi, a leader in the asset management business. This exciting agreement will allow investors to invest in mutual funds that are designed to track our indexes."

The funds will be managed by SSB Citi Fund Management LLC through a sub-advisory arrangement with State Street Global Advisors, a division of State Street Bank and Trust Co. FORTUNE will not be involved in the management of the funds. The funds will be offered online on Cititrade with no sales charges, bringing the utmost convenience and low cost to investors wishing to utilize index funds without the advice of a financial professional.

The FORTUNE 500 Index (Symbol:FFX) is based on FORTUNE's signature list of America's 500 largest companies, ranked by revenues. The FORTUNE e-50 Index (Symbol:FEX) tracks the performance of companies shaping the internet economy and includes firms that generate significant revenues from online products and services, as well as those that provide and maintain the infrastructure of the internet. To learn more about the FORTUNE indexes, visit http://indexes.fortune.com.

Cititrade is a new stand-alone, online investment service from Citigroup designed for the quality-conscious online investor. Cititrade's state-of-the-art trading operation is powered by a wide range of products and services from Citigroup's investment and consumer businesses. Cititrade's featured offerings include research by internationally recognized Salomon Smith Barney analysts, prompt and reliable order processing systems, an award-winning online bill payment service and proprietary interactive financial and planning tools. Cititrade provides investors with the means to make informed investment decisions on their own. For more information, consumers may visit www.mycititrade.com and register online to be a guest for two months.

For more information about the CitiFunds Index Series, please visit the Cititrade website at www.mycititrade.com or call a Cititrade account representative at 888/663-CITI(2484) and ask for a prospectus containing more complete information, including all fees and expenses. Please read it carefully before you invest or send money.

Securities transactions are through Citicorp Investment Services (CIS), member NASD/SIPC and a subsidiary of Citigroup Inc.

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CitiFunds and Cititrade are registered service marks of Citicorp. Citi is a service mark of Citicorp.

SSB Citi Asset Management Group (SSB Citi) is comprised of the substantial resources that are available through its primary asset management business platforms: Salomon Brothers Asset Management, Smith Barney Asset Management, a division of Salomon Smith Barney Inc., and Citibank Global Asset Management. The SSB Citi Asset Management Group companies offer institutional, high net worth and retail clients a broad range of investment disciplines from global investment centers around the world. Products and services offered include mutual funds, closed-end funds, separately managed accounts, unit investment trusts and variable annuities (through affiliated and third party insurance companies). Aggregate assets under management totaled $397 billion as of September 30, 2000.

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, CitiFinancial, and Primerica under Citigroup's trademark red umbrella. Additional information may be found at www.citigroup.com.

The FORTUNE Group at Time Inc. is comprised of FORTUNE, FSB: FORTUNE Small Business, and the soon to be launched eCompany Now (May 2000), and is part of the Time Warner family of companies. FORTUNE, a bi-weekly business magazine, is known for its unrivaled access to industry leaders and decision-makers. With a worldwide circulation of 965,000, and a worldwide readership of more than six million, FORTUNE reaches a wide and influential audience every two weeks. FSB: Fortune Small Business (formerly YOUR COMPANY magazine) is published as a joint venture between Time Inc. and American Express Small Business Services. eCompany Now, a monthly magazine and Web site venture based in Silicon Valley, will cover the challenges and opportunities of doing business on the Internet. For more information on SSB Citi or FORTUNE, visit their Web sites at X and www.fortune.com. Note to Editors: FORTUNE, FORTUNE 500 and FORTUNE e-50 are trademarks of FORTUNE, a division of Time Inc., which is licensed for use by Salomon Smith Barney Citi in connection with these mutual funds (the "Products"). The Products have not been passed on by FORTUNE for suitability for a particular use. The Products are not sponsored, endorsed, sold or promoted by FORTUNE. FORTUNE makes no warranty and bears no liability with respect to such Products. FORTUNE makes no warranty as to the accuracy and/or completeness of the Index or the data included therein or the results to be obtained by any person from the use of the Index or the data included therein.