Citigroup Announces 12.5% Increase in Common Dividend

FOR IMMEDIATE RELEASE
April 16, 2002

Citigroup Announces 12.5% Increase in Common Dividend

16th Consecutive Year of Common Dividend Increases

New York — The Board of Directors of Citigroup (NYSE:C) today approved an increase in the quarterly dividend on the company's common stock from 16 cents a share to 18 cents a share, payable on May 24, 2002, to stockholders of record on May 6, 2002. This represents the sixteenth consecutive year of a dividend increase for the company since Citigroup’s predecessor company was founded in 1986.

Sanford I. Weill, Chairman and Chief Executive Officer, said, “Our continued strong earnings despite difficult business conditions demonstrate the value of our diversified businesses and this dividend increase reflects our ongoing commitment to delivering the benefits of our growth to our shareholders.”

The Board also declared dividends on preferred stock as follows:

-- Series F, payable June 1, 2002, to holders of record on May 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.795625 for each receipt held.

-- Series G, payable June 1, 2002, to holders of record on May 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.776625 for each receipt held.

-- Series H, payable August 1, 2002, to holders of record on July 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.778875 for each receipt held.

-- Series M, payable August 1, 2002, to holders of record on July 15, 2002. Holders of depositary receipts, each representing one-fifth of a full preferred share, will be paid $.733 for each receipt held.

-- Series Q, payable May 31, 2002, to holders of record on May 15, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.2835 for each receipt held.

-- Series R, payable May 31, 2002, to holders of record on May 15, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.2835 for each receipt held.

-- Series V, payable May 15, 2002, to holders of record on April 30, 2002. Holders of depositary receipts, each representing one-tenth of a full preferred share, will be paid $.7325 for each receipt held.

# # #

Citigroup (NYSE: C), the preeminent global financial services company with some 200 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. Additional information may be found at: www.citigroup.com.