Citibank Launches NYSE Listed ADR Program for Sadia S.A.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 10, 2001

Brazilian manufacturer of processed food products establishes

exchange-listed program to expand U.S. investor base

Citibank Depositary Receipt Services announced today the establishment of a NYSE listed American Depositary Receipt (ADR) program for Sadia S.A. The American Depositary Shares (ADSs) began trading this morning on the NYSE under the symbol "SDA" (CUSIP 786326108).

Citibank will act as depositary.

Sadia S. A. participates in the production and marketing of frozen and refrigerated food products from chicken, turkey, pork, beef and pasta. The company was founded 55 years ago and operates 12 plants and 19 commercial offices in Brazil, as well as offices throughout South America and abroad in Italy, Dubai and Japan.

The underlying preferred shares trade on the Sao Paulo Stock Exchange (symbol: "SDIA4"). Each ADS will represent 30 of the company's preferred shares. During the first quarter of 2001, Sadia represented 80% of the total shares traded on the Sao Paulo Exchange among listed companies in the food sector. For further information visit the company's website: www.sadia.com.br.

"Citibank is delighted to support Sadia in its NYSE listing of ADRs representing preferred shares and to be partnering with Sadia to grow its U.S. shareholder base," said Kurt Schneiber, Global Managing Director, Citibank Depositary Receipt Services.

"Citibank's guidance has been excellent as we list our ADRs on the NYSE," said Luiz Murat, Chief Financial Officer of Sadia. " We expect that this listing will augment our position as a customer focused, committed global player, broadening our presence in the world's largest capital market."

Citibank Depositary Receipt Services leads the market in bringing quality issuers to the US market and promoting ADRs as an effective capital markets tool. Citibank began offering American Depositary Receipts in 1928 and today is the market leader, widely recognized for delivering high quality, highly liquid programs to its customers.

Citibank Depositary Receipt Services is a part of Worldwide Securities Services (WWSS), a unit of Citigroup's global corporate and investment banking business. WWSS serves global issuers, investors and intermediaries through the world's largest and most acclaimed proprietary custody and clearing network, spanning 51 countries and territories. It currently provides securities services to more than 2,500 customers worldwide and has $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt services, and agency and trust services.

Citigroup (NYSE:C), the preeminent global financial services company, provides some 120 million consumers, corporations, governments and institutions in more than 100 countries 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 brands under Citigroup's trademark red umbrella are - Citibank, Travelers, Salomon Smith Barney, First Associates, Citifinancial and Primerica.

Visit our web site today at www.citibank.com/adr.

This information is being provided solely for information purposes by Citibank, N.A. It does not constitute a recommendation, solicitation or offer for the purchase or sale of any securities, nor shall this material be construed in any way as investment or legal advice or a recommendation, reference or endorsement by Citibank, N.A.