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CITIBANK STUDENT LOAN UNIT FILES REGISTRATION STATEMENT

 CITIBANK STUDENT LOAN UNIT FILES REGISTRATION STATEMENT
 NEW YORK, Nov. 5 /PRNewswire/ -- The Student Loan Corporation has filed a registration statement with the U.S. Securities and Exchange Commission for the sale of 3.6 million shares of common stock. The shares will be sold by Citibank (New York State), the parent of the company. The proposed initial offering of the shares would represent 18 percent of the new company's total shares.
 The company is an indirect subsidiary of Citicorp and has been formed to continue the business of originating, funding and servicing guaranteed student loans that for more than 25 years has been conducted through a division of Citibank (New York State), which itself is a subsidiary of Citicorp.
 The offering will be made through an underwriting syndicate managed by Smith Barney, Harris Upham & Co. Incorporated and The First Boston Corporation. The underwriters will be granted an option to purchase up to 400,000 additional shares to cover over-allotments, which if exercised in full would result in an offering of 20 percent of the company's shares.
 A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of such state.
 A prospectus related to this offering will be obtainable from Smith Barney, Harris Upham & Co. Incorporated, 1345 Avenue of the Americas, New York, NY 10105, or The First Boston Corporation, 55 East 52nd Street, New York, NY 10055.
 -0- 11/5/92
 /CONTACTS: Media, John M. Morris, 212-559-4285, or Susan Weeks, 212-559-0580, or investors, Frederick A. Roesch, 212-559-2715, Richard Goldman, 212-559-2717, John Eley, 212-559-2479, Ken Iselhart, 212-559-8262, or Deborah Russell, 212-559-4658, all of Citibank.
 (CCI) CO: Student Loan Corporation; Citibank ST: New York IN: FIN SU: OFR


SM -- NY134 -- 7956 11/05/92 17:14 EST
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Publication:PR Newswire
Date:Nov 5, 1992
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