May 27, 2004

Citigroup Announces Agreement to Sell its 20% Stake in Samba Financial Group

London — Citigroup (NYSE: C) announced today that it has reached agreement to sell its 20 percent stake in Samba Financial Group, formerly known as the Saudi American Bank, to the Public Investment Fund, a Saudi public entity. Citigroup will record an after tax gain on this sale of approximately $760 million, or 15 cents per share, in the second quarter of 2004.