Citigroup in Philippine Bank Acquisition

March 15, 2005

Cleary Gottlieb is representing Citigroup in its acquisition of Insular Life Savings and Trust Company.

Insular Life Savings and Trust is a medium-size Philippine bank owned by The Insular Life Assurance Company. The acquisition furthers Citigroup’s penetration of the Philippine market and its overall Asian growth plan.

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Citigroup in Philippine Bank Acquisition