Citigroup Inc. Announces Offers to Purchase Seven Series of Outstanding Notes For Over $3 Billion

Citigroup Inc. (“Citigroup”) today announced the commencement of offers to purchase for cash certain of its notes of the series set forth in the table below (each offer with respect to any series set forth in the table below, an “Offer” and, collectively, the “Offers”). We refer to our offer to purchase each series of Notes as an “Offer” and collectively as the “Offers.” The Notes have an aggregate principal amount outstanding of approximately $11.5 billion as of August 13, 2013. These Offers, currently totaling up to $ 3,070,000,000, are consistent with Citigroup's liability management strategy, and reflect its ongoing efforts to enhance the efficiency of its funding and capital structure. Since the beginning of 2012, Citigroup has retired approximately US $25 billion of senior debt, subordinated debt, preferred and trust preferred securities, reducing Citigroup's overall funding costs and efficiently deploying its ample liquidity. Citigroup will continue to consider opportunities to redeem or repurchase securities, based on several factors, including without limitation, the economic value, potential impact on Citigroup's net interest margin and borrowing costs, the overall remaining tenor of Citigroup's debt portfolio, as well as overall market conditions.