Net Loss from Continuing Operations of 12

This additional coveragewill be extended by the FDIC through December 31, 2009, and is separate from thecoverage currently available under the FDIC's general deposit insurance rules. "Through our participation in the Transaction Account Guarantee Program andrecent increases to basic FDIC insurance limits, our banking teams are able toput Heralds strong capital base and clean balance sheet to work for clients bydelivering a broader scale of products and services," comments David S.Bagatelle, President and CEO of Herald National Bank. About Herald National BankHerald National Bank, member FDIC, is a relationship-based banking institutiondedicated to serving the commercial and private banking needs of small tomid-size businesses and high net worth individuals in the New York metropolitanarea. For more information, visit KDJ CommunicationsGeorge Morin, Copyright Business Wire 2009. Net Loss from Continuing Operations of $12.14 Billion, Loss Per Share of $2.44,Primarily Due to Write-Downs and Losses in Securities and Banking, Higher CreditLosses, Additions to Loan Loss Reserves, and Restructuring Costs Related toHeadcount ReductionsProgress on Lowering Expenses, Headcount and AssetsContinued Capital and Structural Liquidity StrengthFull Year 2008 Revenues of $52.8 Billion, Net Loss of $18.72 BillionNEW YORK(Business Wire)Citigroup Inc.

(NYSE: C) today reported a net loss for the 2008 fourth quarterof $8.29 billion, or $1.72 per share, based on 5,347 million shares outstanding.Revenues of $5.6 billion were affected by write-downs and losses in Securitiesand Banking. Results also include $6.1 billion in net credit losses and a $6.0billion net loan loss reserve build. For the full year 2008, Citigroup reported a net loss of $18.72 billion, or$3.88 per share See Schedule C for full year business segment results. Key Items Results reflect the negative impact from $7.8 billion in revenue marks inSecurities and Banking, a $5.3 billion downward credit value adjustment onderivative positions, excluding monolines, $2.5 billion of losses in privateequity and equity investments, $2.0 billion of restructuring costs, and a $6.0billion net loan loss reserve build. Deposit base remained stable compared to the third quarter 2008 despite thechallenging environment.

Net interest margin increased 73 basis points versus the fourth quarter 2007. Headcount reduced by approximately 29,000 since the third quarter 2008 andapproximately 52,000 in the full year 2008. Closed sales of the German retail banking operations and Citi Global ServicesLimited for after-tax gains of $3.9 billion and $192 million, respectively.The loss sharing program with the U.S. Government, closed on January 15, 2009,reduces risk and lowers the regulatory capital requirement on $301 billion ofcovered assets. Additionally,Citi closed on the issuance of $7.1 billion ofliquidation preference perpetual preferred stock and warrants to the U.S.Treasury and FDIC. On January 13, 2009, Citi announced the Morgan Stanley Smith Barney JointVenture.

Citi will exchange Smith Barney for a 49 stake in the JV and a $2.7billion cash payment. However, a number of our core customerfranchises continued to perform well as Citis customers remain active andengaged with us. We continued to make progress on our primary goal in 2008-whichwas to get fit. We significantly strengthened Tier 1 and structural liquidity,we reduced our balance sheet, expenses, and headcount. Our legacy assets declined toapproximately $300 billion, over $300 billion of assets are now covered by aloss sharing arrangement, and we added $14 billion to our loan loss reserves. Weexpect reduced volatility from marks in 2009 as a result of actions weve takento reduce risk, and reclassify certain securities and loans from trading andavailable or hold for sale to hold to maturity or held for investment.