Lewis B. Kaden to Join Citigroup as Chief Administrative Officer.

NEW YORK -- Lewis B. Kaden will be joining Citigroup as Vice Chairman and Chief Administrative Officer effective September 6th 2005. In this role, the heads of the following functional areas will report to him: Operations & Technology, Human Resources, Corporate Affairs & Philanthropy, Business Practices, M&A Execution, Government Affairs, Risk & Compliance, Legal and Community Relations. Audit & Risk Review will continue to report to the Chairman of the Audit Committee of the Board, but will now administratively report to Mr. Kaden. Mr. Kaden will become a member of the Citigroup Management Committee, the Business Heads Committee and the Business Practices Committee and will report directly to Charles Prince, Chief Executive Officer.

Mr. Kaden, 63, joins Citigroup from Davis Polk & Wardwell, where he was a partner whose practice included corporate governance, mergers and acquisitions, and advocacy before appellate courts including the United States Supreme Court. During his more than twenty years at the firm, he regularly advised directors and senior management of major corporations, including Citigroup, on significant issues.

"I have had the pleasure of knowing and working with Lew over the years and believe our company will greatly benefit from his involvement on our senior leadership team," said Mr. Prince. "Lew's deep experience, insight, and integrity will be of great value as we pursue our ambitious agenda to build the most respected global financial services company. We look forward to his contributions."

"I am honored and excited to join Citigroup," said Mr. Kaden. "Over the last few years, I have had several opportunities to work with Chuck and the senior managers of Citigroup on a variety of matters and I have the highest regard for the caliber of leadership at this extraordinary company. I look forward to working closely with the senior team while insuring that the flow of information to the CEO is direct, efficient and enhanced."

Before joining Davis Polk in 1984, Mr. Kaden served for four years as Director of Columbia's Center for Law and Economic Studies, was a Professor of Law at Columbia University from 1976 to 1984, and has been an Adjunct Professor since 1984. From 1974 to 1976 Mr. Kaden was Counsel to the Governor of New Jersey. He has served as a moderator for the Public Broadcasting System's Media and Society Seminars, including the "Ethics in America" series which won a Peabody Award.

He is a director of Mittal Steel Company N.V. and is the Chairman of the Board of Markle Foundation. He also serves on the Boards of Trustees of Continuum Health Partners, Century Foundation, and Human Rights First. He is a member of the Council on Foreign Relations and the Dean's Advisory Board of the Harvard Law School and a former Chairman of the Harvard Law School Fund. He has also served as Chairman of the United States Government Overseas Presence Advisory Panel (1999-2000) and Governor Cuomo's Commission on Competitiveness (1987-1992). He was also the moderator of the business-labor dialogue, a group of chief executive officers and trade union presidents organized by John F. Welch and John Sweeney.

Mr. Kaden graduated from Harvard College, magna cum laude, in 1963 and from Harvard Law School, magna cum laude, in 1967 where he was an editor of the Law Review. During 1963-1964 he was the John Harvard Scholar at Emmanuel College, Cambridge University.

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, 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.