Citigroup Announces that the 60-Day Exercise Period for its Litigation Tracking Warrants Commenced Today

Citigroup, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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 Life and Annuity. Additional information may be found at www.citigroup.com.


	Printer Friendly Page		FOR IMMEDIATE RELEASE Citigroup Inc (NYSE: C) April 05, 2005 Citigroup Announces that the 60-Day Exercise Period for its Litigation Tracking Warrants Commenced Today New York — Citigroup Inc. announced that a "Triggering Event" with respect to its Litigation Tracking Warrants (the “LTWs”) has occurred and that the 60-day period for exercise of the LTWs commenced today as a result of today's mailing to LTW record holders of the exercise notice, the letter of transmittal and other documents relating to the exercise of the LTWs. The LTW Expiration Date is June 3, 2005, after which the LTWs will expire and will no longer be exercisable. The LTWs were initially issued by Golden State Bancorp Inc. ("GSB") in connection with Glendale Federal Bank v. United States, an action by Citibank (West), as successor by acquisition to Glendale Federal Bank, against the United States government. Citigroup assumed the LTWs in connection with its acquisition of GSB in 2002. Based on the aggregate number of LTWs outstanding and LTWs issuable upon exercise of certain outstanding options, the LTWs and such options are exercisable for an aggregate of 1,944,415 shares of Citigroup common stock and an aggregate amount of cash equal to $56,821,822, or $56,802,378 after deduction of the aggregate Exercise Price for the LTWs. Each LTW is exercisable for 0.02302 share of Citigroup common stock and $0.6727 in cash, or $0.6725 in cash per LTW after deduction of the Exercise Price of $0.0002 per LTW. Exercise of the LTWs shall be effected by sending the LTW certificates, accompanied by a properly completed and executed letter of transmittal and other required documents, to Citibank, N.A., the Warrant Agent, prior to 5:00 p.m., New York City time, on June 3, 2005, at one of the addresses set forth on the letter of transmittal. Guaranteed delivery procedures are available, but only if the LTWs are surrendered by book-entry transfer through the facilities of The Depository Trust Company. Additional details about the LTWs can be found in the prospectus supplement that Citigroup filed today with the Securities and Exchange Commission and mailed to LTW holders with respect to shares of Citigroup common stock issuable upon exercise of the LTWs. # # # Citigroup, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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 Life and Annuity. Additional information may be found at www.citigroup.com.