Citigroup Inc. Announces Results of Cash Tender Offer to Purchase Any and All of Certain Series of its Outstanding Notes

Citigroup Inc. today announced the results of its offer to purchase for cash (the "Offer") any and all of the series of its notes (the "Notes") set forth in the table below. As of the Expiration Date, which was 5:00 p.m. New York time on Feb. 3, 2010, approximately $3.02 billion aggregate principal amount of Notes was validly tendered and not withdrawn or were subject to binding commitments to sell to Citi. This previously announced action is part of a liability management strategy that utilizes excess cash to retire generally older vintage debt nearing maturity. These transactions are not expected to have any impact on Citi's structural liquidity.

Citi has accepted for purchase all Notes validly tendered and not validly withdrawn and expects to settle all tenders and commitments on February 8, 2010 (the "Settlement Date"). The aggregate U.S. dollar amount indicated above is based on U.S. dollar exchange rates as of February 3, 2010.

The table below sets forth additional detail regarding the Notes to be purchased.

Title of Security                     CUSIP / ISIN No.  Aggregate Principal  Aggregate Principal  Aggregate Principal

                                                        Amount               Amount to be         Amount Expected to

                                                        Outstanding          Purchased            be

                                                        Prior                                     Outstanding After

                                                        to the Offer                              Settlement

U.S. Dollar Notes

4.625% Notes due 2010                 172967DA6 /       $1,250,000,000       $641,695,300         $608,304,700

                                      US172967DA60

5.125% Notes due 2011                 172967DH1 /       $2,000,000,000       $293,486,000         $1,706,514,000

                                      US172967DH14

Non-U.S. Dollar Notes

0.700% Notes due 2010                 JP584119B360      JPY 25,000,000,000   JPY 7,800,000,000    JPY 17,200,000,000

1.510% Notes due 2010                 JP584119A768      JPY 30,000,000,000   JPY 3,200,000,000    JPY 26,800,000,000

Floating Rate Notes due 22 June 2010  JP584119E760      JPY 30,000,000,000   JPY 24,700,000,000   JPY 5,300,000,000

0.740% Notes due 2010                 JP584119A594      JPY 75,000,000,000   JPY 35,500,000,000   JPY 39,500,000,000

Floating Rate Notes due 2010          XS0233760247      GBP 500,000,000      GBP 392,549,000      GBP 107,451,000

1.750% Notes due 2010                 CH0022549015      CHF 350,000,000      CHF 74,440,000       CHF 275,560,000

Floating Rate Notes due 9 June 2010   AU300CGRP049      A$450,000,000        A$367,180,000        A$82,820,000

5.750% Notes due 9 June 2010          AU300CGRP031      A$800,000,000        A$316,020,000        A$483,980,000

Citi's affiliate Citigroup Global Markets Inc. acted as the dealer manager for the Offer. Global Bondholder Services Corporation was the depositary and information agent with respect to the Notes denominated in U.S. dollars. Lucid Issuer Services Limited was the tender agent and information agent with respect to Notes that are both denominated in currencies other than U.S. dollars and that are held at Euroclear or Clearstream.

This press release is neither an offer to purchase nor a solicitation to buy any of the Notes nor is it a solicitation for acceptance of the Offer. Citi made the Offer only by, and pursuant to the terms of, the Offer to Purchase and the related Letter of Transmittal previously distributed to holders of Notes. The Offer was not made to (nor were tenders of Notes accepted from or on behalf of) holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. This announcement must be read in conjunction with the Offer to Purchase and, where applicable, the related Letter of Transmittal.

United Kingdom. The communication of the Offer to Purchase and any other documents or materials relating to the Offer was not made and such documents and/or materials have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials were not distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion was only made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or within Article 43(2) of the Order, or to other persons to whom it may lawfully be communicated in accordance with the Order.

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.

Certain statements in this release, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. For a discussion of additional risks and uncertainties that may affect Citi's future results, see Citi's periodic reports filed with the U.S. Securities and Exchange Commission and available on www.sec.gov or www.citigroup.com.

SOURCE: Citigroup Inc.

Citigroup Inc. 

Media: 

Shannon Bell, 212-793-6206 

Stephen Cohen, 212-793-0181 

or 

Investors: 

John Andrews, 212-559-2718 

or 

Fixed Income Investors: 

Ilene Fiszel Bieler, 212-559-5091

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