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CITICORP ANNOUNCES EXPIRATION OF OFFERS TO EXCHANGE COMMON STOCK FOR PREFERRED STOCK SERIES 2 AND 3

 CITICORP ANNOUNCES EXPIRATION OF OFFERS TO EXCHANGE
 COMMON STOCK FOR PREFERRED STOCK SERIES 2 AND 3
 NEW YORK, June 10 /PRNewswire/ -- Citicorp (NYSE: CCI) announced today that, based on preliminary results of its exchange offers which expired at midnight last night, it intends to issue approximately 9.3 million shares of its common stock in exchange for approximately 1.7 million shares of its adjustable rate preferred stock, second series, and approximately 700,000 shares of its adjustable rate preferred stock, third series, tendered in the exchange offers. The exchange offers will increase Citicorp's common equity by $237 million or $25.55 for each share of common stock issued.
 Nancy S. Newcomb, senior corporate officer for funding, said: "We are pleased with the exchange offers, which provided benefits to those preferred holders who wished to exchange and enable us to enhance the quality of our capital and increase our flexibility in implementing our capital plans."
 After the exchanges, there were outstanding approximately 2.2 million shares of the second series and approximately 800,000 shares of the third series preferred stock, both of which are traded on the New York Stock Exchange.
 The NYSE closing prices of the Citicorp common stock, the second series preferred stock, and the third series preferred stock on May 11, 1992, the day before the offers were announced, were $19.50, $67.25, and $79.50, respectively. The closing prices of the securities on June 9, 1992 were $19.25, $71.625, and $84.125, respectively.
 -0- 6/10/92
 /CONTACT: John M. Morris, 212-559-4285, or Richard Howe, 212-559-9425, or Maria Rullo, 212-559-3896, all of Citicorp/
 (CCI) CO: Citicorp ST: New York IN: FIN SU: OFR


TS -- NY018 -- 8687 06/10/92 09:25 EDT
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Publication:PR Newswire
Date:Jun 10, 1992
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