Citibank Makes Big Leap in Trustee Ranking; Moves toSecond in Survey Conducted by Thomson...

Business Editors

NEW YORK--(BUSINESS WIRE)--May 17, 2000

Citibank Worldwide Securities Services, a division of Citigroup's Global Corporate and Investment Bank, jumped from fifth to second place in a recent independent survey of market share of trustee debt excluding mortgage-backed

"We're delighted to have made such a significant jump in these rankings," said Jeffrey Volk, managing director of Citibank Agency and Trust. "Our most recent client satisfaction surveys indicate that over 92% of our customers believe Citibank is providing service levels superior to our competitors'. We believe delivering value to customers and superior service provides important differentiation for Citibank in the global markets. It is one of the primary reasons we continue to lead the market for European medium term notes."

Citibank Agency and Trust is the largest global provider of corporate trust, escrow and advisory services. Headquartered in New York and London, the division is responsible for over $1.5 trillion in fixed income, escrow, corporate finance, project finance, advisory and related transactions. More than 3,000 corporations routinely utilize Citibank's Agency and Trust services in 65 countries worldwide.

Citibank Worldwide Securities Services (WWSS) is a unit of Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 51 countries. It currently provides securities services to more than 2,500 customers worldwide and has $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt services, and agency and trust services. The local presence of WWSS, supported globally by Regional Service Centers, ensures clients of consistent transaction processing worldwide, proprietary control of clearing cycles and reduced risk in all cross-border securities transactions.

Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in 101 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Commercial Credit and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: http://www.citi.com.