Citigroup to Redeem Preferred Stock.

NEW YORK -- Citigroup Inc. today announced that on February 15, 2006, it will redeem for cash all outstanding shares of its Fixed/Adjustable Rate Cumulative Preferred Stock, Series V. The redemption price will be $50.00 per depositary share, plus accrued dividends to the date of redemption. Currently, $125 million of Series V Preferred Stock is outstanding.

Depositary Shares of Series V Preferred Stock are to be surrendered for payment of principal plus accrued dividends to Citibank, N.A., as redemption agent, for payment of the redemption price as follows: If by hand: 17 Battery Place, 11th floor, New York, New York 10004. If by overnight courier: Corporate Actions, 250 Royall Street, Canton, Massachusetts 02021. If by mail: Corporate Actions, P.O. Box 43035, Providence, Rhode Island 02940-3035.

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.