ADVISORY/Citibank and OFII: We are Them: New Study Finds Americans Own 20% Of the Shares in Largest Foreign Companies Doing Business in the U.S.

Business Editors

ADVISORY...for Monday (July 2)

--(BUSINESS WIRE)

And For Good Reason: These Stocks Beat Both

World Index and S&P 500 by Wide Margin

WHO: James K. Glassman, Author of the report, America's Reciprocal
     Stock Portfolio: How U.S. Investors Invest in 'Foreign' Companies
     that Invest in the U.S.; Resident Fellow, American Enterprise
     Institute Kurt Schneiber, Global Managing Director, Citibank
     Depositary Receipt Services Todd Malan, Executive Director,
     Organization for International Investment

WHAT: The report found that as foreign companies have been increasing
     their investment in the U.S. economy, U.S. stockholders have been
     increasing their stake in these very same companies (i.e.,
     DaimlerChrysler, Nokia, and GlaxoSmithKline). This reciprocal,
     symbiotic relationship is a powerful phenomenon and one that has
     never before been explored.

       The study, authored by prominent financial market commentator and
     think-tank scholar, James K. Glassman, will be released on
     Monday. It examines the reciprocal link between foreign companies
     with significant U.S. operations and U.S. stock ownership of
     these companies. The report was sponsored by the Organization for
     International Investment and Citibank Depositary Receipt
     Services.

       Key Findings of the Report:

       --   A unique list was developed by Thomson Financial/Carson of
          the 100 largest publicly traded foreign companies in the
          U.S., based on volume of U.S. sales (The Reciprocal 100);

       --   Americans, on average, own over 20% of the total shares of
          the Reciprocal 100; and

       --   The returns of the stocks of this group of companies have
          dramatically outstripped the returns of other non-U.S.
          firms, and have beaten the U.S. benchmark as well. Over the
          last five years, the stocks of The Reciprocal 100 companies
          produced, in the aggregate, returns of 99.5 percent.
          Compared with just 27.4 percent for the MSCI WORLD ex-USA
          index and 78.2 percent for the Standard & Poor's 500 Index.
          In other words, investors in the Reciprocal 100 earned
          profits one-fourth higher than investors in the broad U.S.
          benchmark.

WHY: Most Americans would be surprised to know that the companies they
     may consider 'foreign' are significantly owned by American
     stockholders. While Americans may know the brands (Sony, Nestle),
     they assume the companies' shares are exclusively owned abroad.
     However, because of the growing American investor class, the
     globalization of U.S. capital markets, and the diversification of
     mutual and pension funds, the largest foreign companies in the
     U.S. are attracting major American share ownership. The
     Reciprocal 100 firms offer global diversification, the savvy of
     corporate managers who know how to operate outside their home
     countries, plus the power of the U.S. economy.

WHEN: The report will be released to the public on Monday, July 2,
     2001. Spokespeople are available for live, taped and taped as
     live radio interviews by phone on Monday, July 2, 2001 through
     Sunday, July 8, 2001.

       For more information about the Organization for International
Investment go to www.ofii.org. For more information about Citibank's
Depositary Receipt Services go to www.citibank.com/adr.