Citigroup Announces 11% Increase in Common Dividend 17th Consecutive Year of Common Dividend Increases

For immediate release
Citigroup Inc. (NYSE symbol: C)
January 21, 2003

Citigroup Announces 11% Increase in Common Dividend;
17th Consecutive Year of Common Dividend Increases

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New York — The Board of Directors of Citigroup Inc. (NYSE: C) today approved an increase in the quarterly dividend on the company’s common stock to 20 cents a share from 18 cents a share, payable on February 28, 2003, to stockholders of record on February 3, 2003.

This represents the seventeenth 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, “Taking into account this 11% increase in our dividend, the proportion of our net income paid to shareholders in 2002 would have been 27%. Together with our share buyback program in 2002, we distributed 60% of our net income to our shareholders.”

The Board also declared dividends on the company’s preferred stock as follows:

– Series F, payable March 1, 2003, to holders of record on February 14, 2003. Holders of depositary receipts, each representing one-fifth of a full, preferred share, will be paid $.795625 for each receipt held.

– Series G, payable March 1, 2003, to holders of record on February 14, 2003. Holders of depositary receipts, each representing one-fifth of a full, preferred share, will be paid $.776625 for each receipt held.

– Series H, payable May 1, 2003, to holders of record on April 15, 2003. Holders of depositary receipts, each representing one-fifth of a full, preferred share, will be paid $.778875 for each receipt held.

– Series M, payable May 1, 2003, to holders of record on April 15, 2003. Holders of depositary receipts, each representing one-fifth of a full, preferred share, will be paid $.733 for each receipt held.

– Series Q, payable February 28, 2003, to holders of record on February 13, 2003. Holders of depositary receipts, each representing one-tenth of a full, preferred share, will be paid $.28125 for each receipt held.

– Series R, payable February 28, 2003, to holders of record on February 13, 2003. Holders of depositary receipts, each representing one-tenth of a full, preferred share, will be paid $.28125 for each receipt held.

– Series V, payable February 15, 2003, to holders of record on January 31, 2003. Holders of depositary receipts, each representing one-tenth of a full, preferred share, will be paid $.7325 for each receipt held.

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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.