Citi in FDIC-Guaranteed Debt Offerings Totaling $7 Billion

Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., in three recent debt offerings by Citibank, N.A. and two recent debt offerings by Citigroup Funding Inc. Both issuers are wholly-owned subsidiaries of Citigroup Inc. The notes were guaranteed by the FDIC under its Temporary Liquidity Guarantee Program (“TLGP”) and were offered for sale in the United States and abroad. Citibank issued $1.75 billion of floating rate notes due 2010, $1 billion of 1.625% fixed rate notes due 2011 and $750 million of floating rate notes due 2011. Citigroup Funding Inc. issued $2.5 billion of floating rate notes due 2012 and $1 billion of 2.000% fixed rate notes due 2012. All five deals closed on March 30.

Citigroup Inc. is a global diversified financial services holding company whose businesses provide a broad range of financial services to consumer and corporate customers. Citigroup has more than 200 million customer accounts and does business in more than 100 countries.