Citigroup Global Consumer Group Announces New Organizational Structure to Increase Customer Focus and Leverage Deep Bench of Talent.

NEW YORK -- Citigroup's Global Consumer Group today announced an organizational structure to leverage the strength of its global franchise, facilitate a more integrated approach to serving its customers, and position the company to expand its record of superior financial performance. The organizational structure capitalizes on the deep bench of talent within the organization.

Ajay Banga and Steven J. Freiberg, who were named Co-heads of the Global Consumer Group in August, said: "While the Global Consumer Group has amassed an impressive record over the years, we know we can do more. The organizational structure we are announcing today is designed to continue our momentum, leverage our success throughout our global organization, provide quality service to every customer, and deliver strong results for our shareholders."

As Co-heads of the Global Consumer Group, Mr. Banga has responsibility for the International business and Mr. Freiberg heads North America.

The components of the new organizational structure are as follows:

--Customer Franchise Management - A new Customer Franchise Management function has been created for both the North America and International businesses to assure the needs of each customer segment are considered in their entirety, and that understanding of these, further factor into interactions and business decisions across products, distribution and geography.

Peter Knitzer, formerly EVP, Travel and Business, Citi Cards,
        will be the Head of Customer Franchise Management for the
        North America business. Vicky Bindra, formerly Director,
        Retail Distribution Group, will be the Head of Customer
        Franchise Management for the International business.
        Knitzer and Bindra will work closely to ensure that
        customers consistently receive products and services that
        best suit their needs.

--Global Product Platform - To do more for our customers, the Global Consumer Group product platform will work with the Customer Franchise Management function to leverage the product and distribution components of the company's businesses.

In North America, there will be four primary business heads:

--Vik Atal, formerly EVP, Expansion Markets for Citi Cards, will assume responsibility for Citi Cards.

--Ellen Alemany will continue to run the Commercial Business Group.

--Carl Levinson will have responsibility for the Consumer Lending Group. This group comprises all non-branch lending activities including prime and non-prime mortgages, home equity, student loans, and automobile lending.

--Ray Quinlan, formerly EVP, Head of Citigroup Mergers and Acquisitions Execution, will become Head of Retail Distribution North America, to provide our customers with access to a full suite of Citigroup products, regardless of a customer's point of entry to Citigroup. The group will consist of CitiFinancial's and Citibank's branch networks and Primerica Financial Services. The business includes all branch-based banking and lending activities.

The Group's International business structure will remain the same as it is today:

--Ashok Vaswani, Head of Asia Pacific;

--Frits Seegers, Head of Europe, Middle East and Africa;

--Joyce Phillips, Head of Japan/Cards and Retail Banking;

--Guillermo Acedo, Head of Latin America;

--Enrique Zorilla Fullaondo, Head of Mexico/Retail;

--Augusto Escalante Juanes, Head of Mexico/Cards.

Dave Lowman will continue to run CitiFinancial International. Faith Massingale will continue to run International Cards. The company is currently in the process of identifying an International Retail Banking head. These individuals will report to Mr. Banga, while those with responsibility for Latin America and Mexico will report dually to Manuel Medina Mora, Chairman and CEO, Latin America and Mexico and CEO, Banamex.

--Operations and Technology - Because technology plays a significant role in the customer experience, the North America and International businesses will each have their own heads of Operations and Technology (O&T) who will work closely together. Rich Garside, formerly EVP and Chief Operating Officer, Citi Cards, will head the North America O&T function. Mike Weitzman, formerly President of Citigroup Real Estate Servicing and Technology, will head International O&T.

--Group-wide Risk and Credit Policy - Simon Williams will continue as Head of Risk and Credit Policy for the Global Consumer Group.

--Unified Operational Support Functions - Mike Dunn, currently Chief Financial Officer of the Global Consumer Group, will assume additional responsibility for the group's other staff functions and will add Chief Operating Officer (COO) to his title.

"The members of our senior leadership team bring decades of experience to our efforts," continued Messrs. Banga and Freiberg. "We believe that our future is unlimited, and that through this new organizational structure, we can further expand our importance to our customers, and our position as a leading, global consumer franchise in the financial services industry."

About the Global Consumer Group

Citigroup's Global Consumer Group addresses the full spectrum of customers' financial needs through credit cards, retail banking and consumer finance. Operating in more than 50 countries, the GCG provides a wide variety of quality products and services delivered through more than 13,000 customer locations as well as around the clock Internet and telephone banking. The GCG has total assets of $532 billion with total customer deposits of $236 billion. The Global Consumer Group employs nearly 200,000 employees doing business under major brand names that include Citibank, Citi Cards, CitiBusiness, CitiFinancial, CitiMortgage, Primerica, the Student Loan Corporation, Women & Co. and Diners Club.

About Citigroup

Citigroup (NYSE: C), 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, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com

Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in Citigroup's filings with the Securities and Exchange Commission.