Citigroup Board of Directors Announces Formation of Nominations and Governance Committee, Chaired by Franklin A. Thomas

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, Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.


	Printer Friendly Page		FOR IMMEDIATE RELEASE September 18, 2002 Citigroup Board of Directors Announces Formation of Nominations and Governance Committee, Chaired by Franklin A. Thomas Jack Roche Appointed as Head of Previously Announced Business Practices Committee New York, New York — The Board of Directors of Citigroup (NYSE: C) today announced the formation of a new Nominations and Governance Committee chaired by former Ford Foundation President Franklin A. Thomas. Comprised entirely of outside directors as defined by the New York Stock Exchange guidelines for independence, the Committee will set governance standards for Citigroup and review company compliance with those standards. It will also lead the Board in reviewing its procedures and performance, and in identifying and reviewing new nominees. As Chairman of this Committee, Mr. Thomas will chair the Executive Sessions of the Board. Sanford I. Weill, Chairman and CEO of Citigroup, said: "Our Board's unanimous decision to create a distinct Committee to address corporate governance issues reflects our wholehearted dedication to maintaining best practice standards. Under the chairmanship of Frank Thomas, and with the active involvement of other talented and experienced outside directors, we look forward to assuring that Citigroup's governance standards reflect our commitment to leadership in this critical area." Members of the Nomination and Governance Committee include: Kenneth T. Derr, Chairman of the Board, retired, Chevron Texaco Corporation; John M. Deutch, Institute Professor, Massachusetts Institute of Technology; Anne Dibble Jordan, Consultant, the newly appointed Chair of the Citigroup Public Affairs Committee; Reuben Mark, Chairman & CEO, Colgate Palmolive Company. Michael T. Masin, Vice Chairman and President, Verizon Communications Inc. and Chairman of the Citigroup Personnel and Compensation Committee; Dudley C. Mecum, Managing Director, Capricorn Holdings, and Chairman of the Citigroup Audit Committee; Separately, Mr. Weill appointed Jack Roche, former Citigroup Co-General Counsel and Citicorp General Counsel, to chair the new Business Practices Committee that was announced on September 8. This Committee, which will include the senior business heads of the company, will report directly to Mr. Weill. "I am delighted that we convinced Jack Roche to come out of retirement to lead this important new committee. Jack's 11 years with Citigroup and its predecessor, along with his extensive knowledge of our industry and understanding of the regulatory environment, make him the ideal individual to lead our company-wide effort to assure that our activities consistently reflect the very highest standards of professionalism and integrity," Mr. Weill said. # # # 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, Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com.