Exhibit 99.1


                                                           [CITIGROUP INC. LOGO]


For immediate release
Citigroup Inc. (NYSE symbol: C)
February 11, 2005

 Citigroup Announces Plan to Simplify Legal Vehicle Structure and Streamline
                         Capital Markets Activities.

New York, New York - Citigroup today announced plans to merge its two
intermediate bank holding companies, Citigroup Holdings Company Inc. and
Citicorp, into Citigroup Inc.  This transaction is subject to regulatory
approval and is expected to take place by the end of the third quarter of 2005.
Citigroup will assume all existing indebtededness and outstanding guarantees of
Citicorp.

Citigroup also announced it would consolidate its capital markets funding
activities in two legal entities: i) Citigroup Inc., which will continue to
issue long-term debt, trust preferred securities, preferred and common stock,
and ii) Citigroup Funding Inc. ("CFI") a newly formed, fully guaranteed,
first-tier subsidiary of Citigroup, which will issue commercial paper, and
medium-term notes.  It is anticipated that this funding consolidation will
commence during the second quarter of 2005.

As part of the funding consolidation, it is expected that Citigroup will
unconditionally guarantee CGMHI's outstanding public indebtedness.  Upon
issuance of the guarantee, CGMHI will no longer file periodic reports with the
Securities and Exchange Commission and will continue to be rated on the basis
of a guarantee of its financial obligations from Citigroup.


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Media:                    Leah Johnson     (212) 559-9446
                          Shannon Bell     (212) 793-6206
Fixed Income Investors:   John Randel      (212) 559-5091


Citigroup (NYSE: C), the leading global financial services company, has some
200 million customer accounts and does business in more than 100 countries,
providing consumers, corporations, governments and institutions with a broad
range of financial products and services, including consumer banking and
credit, corporate and investment banking, insurance, securities brokerage, and
asset management.  Major brand names under Citigroup's trademark red umbrella
include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and
Travelers Life and Annuity. Additional information may be found at
www.citigroup.com.
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