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CITIBANK ISSUES STATEMENT ON REPRESENTATION OF CANCELED BONDS

 CITIBANK ISSUES STATEMENT ON REPRESENTATION OF CANCELED BONDS
 NEW YORK, Jan. 29 /PRNewswire/ -- Citibank said today that several banks, including Citibank, have become aware that a number of bonds are appearing in the market which had been canceled in 1986 and before. These perforated bonds are being fraudulently presented in the United States and Europe.
 Citibank has been working with law enforcement agencies which are investigating these fraudulent presentations. The Securities Information Center, the Depository Trust Company, the NASD, the New York Stock Exchange and others have been notified.
 Citibank is continuing to work with the Depository Trust Company to disseminate more detailed notice and to remind any financial intermediaries to take all appropriate precautions, especially when presentations are made by unfamiliar parties. Said a Citibank spokesperson, "While we believe we have no exposure, and that all normal channels of industry notice have been used, recent activity has led us to issue this statement."
 -0- 1/29/92
 /CONTACT: Anne Luzzatto of Citibank, 212-559-4391/ CO: Citibank, N.A. ST: New York IN: FIN SU:


JT -- NY102 -- 5006 01/29/92 19:07 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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