Citigroup Inc. and Citibank Announce Offers to Purchase up to $6.09 Billion Principal Amount of Outstanding Notes

Citigroup Inc. C and Citibank, N.A. today announced the commencement of offers to purchase for cash certain notes issued by Citigroup Inc. and the Citibank Credit Card Issuance Trust, respectively. The Notes have an aggregate principal amount outstanding of approximately $15,515,900,000 based on U.S. dollar exchange rates as of May 13, 2011. The Offers are part of a liability management strategy that utilizes excess cash to retire generally older vintage debt.