Citigroup Corporate and Investment Banking Appoints Ellen Alemany As Head of Global Transaction Services

NEW YORK-Jan. 23, 2006--Citigroup (NYSE: C) Corporate and Investment Banking (CIB) today announced the appointment of Ellen Alemany as Chief Executive Officer of Global Transaction Services (GTS), one of the CIB's three global business units, effective immediately.

Ms. Alemany, a senior Citigroup executive with extensive knowledge of and experience with the banking and financing needs of corporate clients across a broad range of industries, reports to Robert Druskin, President and Chief Executive Officer of Citigroup Corporate and Investment Banking.

In this role, Ms. Alemany will lead Citigroup Corporate and Investment Banking's continued growth of the GTS business and drive its reputation for outstanding client service. GTS is globally recognized for the solutions provided by its cash management, fund services, securities services, and trade services and finance units. In 2005, GTS was named Best Bank for Cash Management by Euromoney for an unprecedented seventh consecutive year and launched several industry-leading, innovative products, including Treasury Vision and SMA Solutions, which The Banker recognized as Back Office Solution of the Year.

"Ellen is a strong leader whose management skills, corporate banking expertise, and demonstrated ability to develop innovative client solutions will enable GTS to continue the momentum it has established over the last several years," Mr. Druskin said. "We are very excited to welcome her back to Citigroup Corporate and Investment Banking."

"I am delighted that Ellen will lead GTS, a core business unit of Citigroup Corporate and Investment Banking, and one that delivers the promise of our global footprint to companies seeking the best corporate banking solutions available in the marketplace," said Charles Prince, CEO of Citigroup Inc. "Ellen has done a terrific job in her current role and we look forward to the focus on excellence and client service that she will bring to the growing GTS business."

Ms. Alemany, 50, has held a number of senior management positions in both the U.S. and Europe, including in the Global Relationship Bank and as President and CEO of CitiCapital, the bank's leasing business in the U.S. and Canada. For the past four and half years she has led the Global Consumer Group's Commercial Business Group, which focuses on the banking, leasing, and commercial real estate needs of U.S based small to medium-sized enterprises.

Ms. Alemany will become a member of the CIB Planning Group, and will remain a member of the Citigroup Operating Committee and the Citigroup Management Committee.

In October 2005, U.S. Banker named Ms. Alemany #5 on their annual "The 25 Most Powerful Women in Banking" list.

From 1977 to 1987, Ms. Alemany worked at Chase Manhattan Bank in Operations, Structured Trade, and the Media and Electronics Department as a Senior Lender. Ms. Alemany joined Citibank in 1987 and in 1988, was appointed Area Head of Citibank's New York Leveraged Capital Group. In 1991, she was appointed a Senior Credit Officer of the bank.

Ms. Alemany has held a number of positions in the Global Corporate Bank, including Customer Group Executive of North American Markets, Global Industry Head of Media and Communications, and U.S. Industry Head of Consumer Products. In November 1999, she was appointed Executive Vice President of Citibank and the Customer Group Executive for the Global Relationship Bank in Europe. Ms. Alemany's other roles have included Chairman and Chief Executive Officer for Citibank International plc, Citibank's pan-European Bank, and Country Corporate Officer for the United Kingdom.

Ms. Alemany earned her MBA with a specialization in Finance from Fordham University in 1980. She serves on the Board of Directors for Citicorp USA, Inc.; Citicorp North America, Inc.; and the Equipment Leasing Association (ELA). In addition, she is the Treasurer and a member of the Board of Trustees of the Equipment Leasing and Finance Foundation.

She serves as Chairperson of the March of Dimes Foundation's Westchester and Rockland (New York) County Bank Challenge. Ms. Alemany was elected to the March of Dimes New York Division Board of Directors in December of 2005.

About Citigroup Corporate and Investment Banking

Citigroup Corporate and Investment Banking works closely with corporations, financial institutions, institutional investors and governments to enable them to achieve their strategic financial objectives. As an industry leader in global banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citigroup Corporate and Investment Banking provides clients with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity.

About Citigroup

Citigroup, 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.

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