Citi in FDIC-Guaranteed Debt Offerings Totaling $12.6 Billion

January 30, 2009

Cleary Gottlieb represented the underwriters, led by Citigroup Global Markets Inc., in five recent debt offerings by Citigroup Inc. and its wholly-owned funding subsidiary, Citigroup Funding Inc. The notes, issued under shelf registration statements, were guaranteed by the FDIC under its Temporary Liquidity Guarantee Program and were offered for sale in the United States and abroad. Citigroup Inc. issued $8 billion of 2.125% fixed rate notes due 2012 and $100 million of floating rate notes due 2010. Citigroup Funding Inc. issued $2.25 billion of floating rate medium-term notes due 2010, $1.9 billion of floating rate medium-term notes due 2012 and $350 billion of a second tranche of floating rate medium-term notes due 2012. All five deals closed on January 30. Together, these were the largest FDIC-guaranteed debt offerings to date.

Citigroup Inc., a global financial services company with approximately 200 million customer accounts in more than 100 countries, provides financial products and services, including banking, investment banking, insurance, securities brokerage and asset management. Citigroup Funding Inc. is a wholly-owned subsidiary of Citigroup Inc. whose business activities consist of providing funds to Citigroup and its subsidiaries for general corporate purposes.