Citigroup in $1 Billion Debt Offering

August 2, 2006

Cleary Gottlieb advised the underwriters, led by Citigroup Global Markets Inc., in an offering of $1 billion 5.85% senior notes due 2016.

The notes, issued under a shelf registration statement, were offered for sale in the United States and abroad, and will be listed on the Luxembourg Stock Exchange. Citigroup cannot redeem the notes before maturity (except upon the occurrence of certain tax events).

Citigroup Inc., a global financial services company with approximately 200 million customer accounts in over 100 countries, provides financial products and services, including banking, securities brokerage and asset management.