Citigroup Names Marge Magner Chief Operating Officer, Consumer Group

FOR IMMEDIATE RELEASE
April 22, 2002

Citigroup Names Marge Magner Chief Operating Officer, Consumer Group

New York — Citigroup (NYSE: C) today announced that Marjorie Magner has been named Chief Operating Officer of the company’s Consumer Group, which generated $6 billion in profit in 2001.

In this newly created role, Ms. Magner will serve as the deputy and senior adviser to Robert B. Willumstad, President of Citigroup and Chairman and Chief Executive Officer of the company’s Consumer Group. Magner will continue in her role as Chief Administrative Officer of the Consumer Group, overseeing Citibanking North America, Primerica Financial Services, Citigroup’s consumer banking operations for Western Europe and Japan, and the Consumer Group’s marketing and human resources functions. She will remain a member of the Consumer Planning Group and Citigroup's Management Committee.

“We are delighted to acknowledge Marge’s significant contributions to the success of our consumer operations. We have great confidence in her ability to take on an expanded role in the leadership of these businesses, which continue to be formidable growth engines for our company,” said Sanford I. Weill, Citigroup’s Chairman and Chief Executive Officer.

“Marge’s tremendous talent as a manager, strategist, acquirer and integrator of businesses have made her a real partner in charting and executing the course that has led to the standout performance of the Consumer Group over time, including the 20% core income and revenue growth we posted in the difficult environment of last year,” Mr. Willumstad said. “I am proud to have had the opportunity to work closely with Marge for many years, and I look forward to collaborating with her in the future to build on the considerable achievements of the Consumer Group to date.”

Ms. Magner joined Commercial Credit, a predecessor company to Citigroup, in 1986. Since then, she has served in a number of positions of increasing responsibility, including President and Chief Executive Officer of CitiFinancial, Citigroup's consumer finance subsidiary.

Before joining Citigroup, Ms. Magner worked for Chemical Bank, where she was the first female MBA-level recruit in the company’s operations division. During her 10 years at Chemical, she rose through the operations division to senior positions in the retail division, including branches and middle-market lending, culminating her experience there as Managing Director of the Chemical Technologies division. She began her career in the actuarial department of Equitable Life Insurance where she was responsible for competitive analysis.

For the last two years, Fortune Magazine has named Ms. Magner one of the 50 most powerful women in American business. Ms. Magner serves on the Board of Directors of Dress for Success. She previously served on the Boards of Directors of the Welfare to Work Partnership, Port Discovery Children’s Museum in Baltimore, and the Maryland Business Roundtable for Education. Ms Magner also served on the board of the University of Maryland Foundation and is a member of the YWCA’s Academy of Women Achievers. She is a frequent speaker on diversity, business and technology issues.

Ms. Magner, 52, is a native New Yorker. She holds a B.S. in psychology from Brooklyn College and a MSIA from Purdue University. Ms. Magner has one son and lives in New York City.

# # #

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.