Citigroup (C) Announces Redemption of Selected Enhanced TRUPS; Sees Tier 1 Capital Decreasing 6 bps

Citigroup Inc. (NYSE: C) is announcing the redemption of a series of Citi trust preferred securities –the 7.250% Enhanced TRUPS issued by Citigroup Capital XIX (CUSIP: 17311U200) (the “ETRUPS”). The ETRUPS are being redeemed, along with the common securities issued by Citigroup Capital XIX and held by Citi, as a result of the concurrent redemption in whole by Citi of the junior subordinated debt securities held by Citigroup Capital XIX which underlie the ETRUPS.

The redemption date for the ETRUPS will be August 15, 2012, and the cash redemption price paid on the redemption date will equal $25 plus $0.3021 in accumulated and unpaid distributions per ETRUPS.

Beginning on the redemption date, the ETRUPS® will no longer be considered outstanding and distributions will no longer accrue on the ETRUPS®.

Under the terms and conditions of the ETRUPS Citigroup has the option to redeem the ETRUPS in whole or in part on one or more occasions any time on or after August 15, 2012. Accordingly, Citi has elected to redeem the ETruPS on August 15, 2012 in whole.

As a result of this redemption, Citigroup’s Tier 1 Capital is expected to decrease by approximately $0.6B and its Tier 1 Capital ratio is expected to decrease by approximately 6 basis points. Citigroup’s Tier 1 Common capital and related Tier 1 Common ratio, under Basel I and as estimated under Basel III, will not be affected by this redemption.

The Bank of New York Mellon is the paying agent for the ETRUPS.

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