<Page>
EX 99.01
CITIGROUP- FINANCIAL HIGHLIGHTS
<Table>
<Caption>
($ IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
2001 2000 1999 1998 1997 1996 1995
----------------------------------------------------------------------------------------
ADJUSTED REVENUE $ 83,625 $ 77,694 $ 68,429 $ 57,597 $ 54,965 $ 49,795 $ 41,405
CORE INCOME (1) $ 14,569 $ 14,140 $ 11,345 $ 7,485 $ 8,728 $ 7,800 $ 6,325
BASIC CORE EARNINGS PER SHARE $ 2.87 $ 2.82 $ 2.25 $ 1.46 $ 1.69 $ 1.48 $ 1.29
DILUTED CORE EARNINGS PER SHARE $ 2.81 $ 2.74 $ 2.19 $ 1.42 $ 1.62 $ 1.42 $ 1.18
TOTAL ASSETS $1,051,450 $902,210 $795,584 $740,336 $755,167 $675,738 $600,995
COMMON STOCKHOLDERS EQUITY $ 79,722 $ 64,461 $ 56,395 $ 48,761 $ 44,610 $ 40,529 $ 40,453
TOTAL STOCKHOLDERS CAPITAL $ 81,247 $ 66,206 $ 58,290 $ 51,035 $ 47,956 $ 43,732 $ 35,710
RETURN ON AVG. COMMON EQUITY (2) 19.7% 22.4% 21.5% 14.4% 17.5% 19.1% 18.0%
BOOK VALUE PER SHARE $ 15.47 $ 12.84 $ 11.23 $ 9.66 $ 8.80 $ 7.94 $ 7.28
DILUTED COMMON SHARES
OUTSTANDING (MILLIONS) 5,147 5,122 5,128 5,144 5,226 5,297 5,174
MARKET CAPITALIZATION (AT YEAR-END) $ 259,906 $256,400 $ 209,800 $125,400 $136,500 $ 77,200 $ 51,200
EMPLOYEES 268,000 233,000 212,500 202,400 184,300 174,100 158,000
</Table>
Notes:
(1) The years Dec. 31, 2001, 2000, 1999, 1998 and 1997 include net restructuring
- related items (and in 2000 and 1998 merger-related costs) of $458 million
($285 million after-tax) $759 million ($550 million after-tax), ($53)
million (($25) million after-tax), $795 million ($535 million after-tax)
and $1,718 million ($1,046 million after-tax), respectively.
(2) The return on average common stockholders equity is calculated using net
income after deducting preferred stock dividends.
<Page>
CITIGROUP - KEY DATA (1)
<Table>
<Caption>
($ IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
2001 2000 1999 1998 1997 1996 1995
------------------------------------------------------------------------------------
LEVERAGE RATIOS:
DEBT/TOTAL CAPITALIZATION 28.89% 20.78% 6.38% 6.04% 3.40% 4.16% 4.91%
DEBT + PREFERRED SECURITIES/
TOTAL CAPITALIZATION 34.72% 26.40% 13.90% 13.69% 9.48% 9.82% 11.24%
UNREALIZED GAIN/(LOSS) ON INVESTMENT
SECURITIES $ 852 $ 973 $ 1,647 $ 1,433 $ 1,697 $ 1,144 $ 900
- ----------------------------------------------------------------------------------------------------------------------------------
PRICE:
HIGH $ 56.30 $ 59.13 $ 43.69 $ 36.75 $ 28.69 $ 15.83 $ 10.65
LOW 36.36 35.81 24.50 14.25 14.58 9.42 5.40
CLOSE $ 50.48 $ 51.06 $ 41.77 $ 24.84 $ 26.94 $ 15.13 $ 10.44
- ----------------------------------------------------------------------------------------------------------------------------------
REPURCHASES:
NUMBER OF SHARES (IN THOUSANDS) 64,184 87,149 116,697 126,742 153,680 237,019 170,524
COST $ 3,045 $ 4,066 $ 3,954 $ 3,139 $ 3,467 $ 3,717 $ 1,944
CUMULATIVE $ 26,179 $23,134 $ 19,068 $ 15,114 $ 11,975 $ 8,508 $ 4,791
- ----------------------------------------------------------------------------------------------------------------------------------
VALUATION AT YEAR-END:
PRICE/EARNINGS (BASIC) 18 X 18 X 19 X 17 X 16 X 10 X 8 X
PRICE/EARNINGS (DILUTED) 18 X 19 X 19 X 17 X 17 X 11 X 9 X
- ----------------------------------------------------------------------------------------------------------------------------------
OPERATING EARNINGS BY GEOGRAPHY
(EXCLUDING INVESTMENT ACTIVITIES)
NORTH AMERICA $ 8,726 $ 8,085 $ 7,361 $ 5,074
EUROPE 996 883 724 (100)
JAPAN 1,126 1,200 640 310
CEEMEA (2) 633 481 300 111
ASIA 1,376 1,131 816 673
MEXICO 346 56 83 41
LATIN AMERICA 836 921 771 540
</Table>
Notes:
(1) Adjusted for stock splits through 4/01.
(2) Central & Eastern Europe, Middle East and Africa (includes the Indian
sub-continent).
<Page>
CITIGROUP
SEGMENT ADJUSTED NET REVENUE
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
-------------------------------------------------------
GLOBAL CONSUMER:
BANKING/LENDING
CITIBANKING NORTH AMERICA $ 2,714 $ 2,273 $ 2,121 $ 2,004
MORTGAGE BANKING 1,037 912 819 682
NORTH AMERICA CARDS 13,028 10,756 9,864 8,569
CITIFINANCIAL 5,634 5,071 4,600 3,791
-------------------------------------------------------
TOTAL BANKING/LENDING 22,413 19,012 17,404 15,046
-------------------------------------------------------
INSURANCE
PRIMERICA FINANCIAL SERVICES 1,979 1,915 1,775 1,654
PERSONAL LINES 4,464 4,230 4,071 3,666
-------------------------------------------------------
TOTAL INSURANCE 6,443 6,145 5,846 5,320
-------------------------------------------------------
INTERNATIONAL
WESTERN EUROPE 2,555 2,388 2,424 2,124
JAPAN 3,382 2,781 1,930 1,268
ASIA 2,201 2,096 1,847 1,557
LATIN AMERICA 1,380 1,656 1,638 1,393
MEXICO (1) 2,117 603 531 291
CEEMEA (2) 548 438 350 286
-------------------------------------------------------
TOTAL EMERGING MARKETS CONSUMER BANKING 6,246 4,793 4,366 3,527
-------------------------------------------------------
TOTAL INTERNATIONAL 12,183 9,962 8,720 6,919
-------------------------------------------------------
e-CONSUMER 176 170 108 77
OTHER 50 169 445 307
-------------------------------------------------------
TOTAL GLOBAL CONSUMER 41,265 35,458 32,523 27,669
-------------------------------------------------------
GLOBAL CORPORATE:
CORPORATE FINANCE 13,452 12,830 10,566 6,958
PRIVATE CLIENT 5,954 6,916 5,934 5,081
-------------------------------------------------------
CORPORATE AND INVESTMENT BANK 19,406 19,746 16,500 12,039
-------------------------------------------------------
EMERGING MARKETS CORPORATE BANKING
& GLOBAL TRANSACTION SERVICES 6,928 6,236 5,373 4,701
COMMERICAL LINES 7,963 7,497 6,815 6,603
-------------------------------------------------------
TOTAL GLOBAL CORPORATE 34,297 33,479 28,688 22,451
-------------------------------------------------------
GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING:
TRAVELERS LIFE & ANNUITY 4,088 3,891 3,394 3,023
THE CITIGROUP PRIVATE BANK 1,536 1,409 1,212 1,130
CITIGROUP ASSET MANAGEMENT 1,929 1,845 1,493 1,272
-------------------------------------------------------
TOTAL GLOBAL INVESTMENT MANAGEMENT & PRIVATE BANKING 7,553 7,145 6,099 5,425
-------------------------------------------------------
CORPORATE/OTHER (397) (697) 30 (163)
INVESTMENT ACTIVITIES 907 2,309 1,089 1,323
-------------------------------------------------------
TOTAL ADJUSTED NET REVENUE $ 83,625 $ 77,694 $ 68,429 $ 57,597
=======================================================
SUPPLEMENTAL INFORMATION:
CITIGROUP EMERGING MARKETS - EXCL. INVESTMENT ACTIVITIES $ 13,464 $ 11,255
GLOBAL WELATH MANAGEMENT 16,325 16,677
GLOBAL CARDS 15,631 13,105
GLOBAL CONSUMER FINANCE 9,231 7,879
</Table>
Notes:
(1) Comprises both Consumer and Corporate operatings in Mexico, including the
results of Banamex (excluding Investment Activities) from August 2001
forward.
(2) Central & Eastern Europe, Middle East and Africa (includes the Indian
sub-continent).
<Page>
CITIGROUP
SEGMENT CORE INCOME
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
----------------------------------------------------
GLOBAL CONSUMER:
BANKING/LENDING
CITIBANKING NORTH AMERICA $ 605 $ 496 $ 373 $ 124
MORTGAGE BANKING 353 297 249 227
NORTH AMERICA CARDS 2,133 1,787 1,436 947
CITIFINANCIAL 1,126 810 761 650
----------------------------------------------------
TOTAL BANKING/LENDING 4,217 3,390 2,819 1,948
----------------------------------------------------
INSURANCE
PRIMERICA FINANCIAL SERVICES 512 492 452 400
PERSONAL LINES 208 307 280 319
----------------------------------------------------
TOTAL INSURANCE 720 799 732 719
----------------------------------------------------
INTERNATIONAL
WESTERN EUROPE 483 384 312 251
JAPAN 928 729 494 319
ASIA 611 550 352 317
LATIN AMERICA 120 250 193 122
MEXICO (1) 346 56 83 42
CEEMEA (2) 89 50 38 8
----------------------------------------------------
TOTAL EMERGING MARKETS CONSUMER BANKING 1,166 906 666 489
----------------------------------------------------
TOTAL INTERNATIONAL 2,577 2,019 1,472 1,059
----------------------------------------------------
e-CONSUMER (77) (160) (110) (80)
OTHER (71) (44) 62 (101)
----------------------------------------------------
TOTAL GLOBAL CONSUMER 7,366 6,004 4,975 3,545
----------------------------------------------------
GLOBAL CORPORATE:
CORPORATE FINANCE 2,745 2,598 2,450 625
PRIVATE CLIENT 764 1,072 922 688
----------------------------------------------------
CORPORATE AND INVESTMENT BANK 3,509 3,670 3,372 1,313
----------------------------------------------------
EMERGING MARKETS CORPORATE BANKING
& GLOBAL TRANSACTION SERVICES 1,644 1,403 882 541
COMMERICAL LINES 691 1,093 884 741
----------------------------------------------------
TOTAL GLOBAL CORPORATE 5,844 6,166 5,138 2,312
----------------------------------------------------
GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING:
TRAVELERS LIFE & ANNUITY 821 777 623 498
THE CITIGROUP PRIVATE BANK 378 323 269 243
CITIGROUP ASSET MANAGEMENT 336 345 327 264
----------------------------------------------------
TOTAL GLOBAL INVESTMENT MANAGEMENT & PRIVATE BANKING 1,535 1,445 1,219 1,005
----------------------------------------------------
CORPORATE/OTHER (706) (858) (637) (496)
INVESTMENT ACTIVITIES 530 1,383 650 836
----------------------------------------------------
TOTAL CORE INCOME $ 14,569 $ 14,140 $ 11,345 $ 7,485
====================================================
SUPPLEMENTAL INFORMATION:
CITIGROUP EMERGING MARKETS - EXCL. INVESTMENT ACTIVITIES $ 3,181 $ 2,622
GLOBAL WELATH MANAGEMENT 2,900 3,125
GLOBAL CARDS 2,734 2,236
GLOBAL CONSUMER FINANCE 1,992 1,436
</Table>
Notes:
(1) Comprises both Consumer and Corporate operatings in Mexico, including the
results of Banamex (excluding Investment Activities) from August 2001
forward.
(2) Central & Eastern Europe, Middle East and Africa (includes the Indian
sub-continent).
<Page>
CITIGROUP
GLOBAL CONSUMER: BANKING/LENDING
CITIBANKING NORTH AMERICA
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
-------------------------------------------------------------
TOTAL REVENUE, NET OF INTEREST EXPENSE $ 2,714 $ 2,273 $ 2,121 $ 2,004
ADJUSTED OPERATING EXPENSES 1,651 1,423 1,417 1,680
PROVISION FOR LOAN LOSSES 70 29 64 102
-------------------------------------------------------------
CORE INCOME BEFORE TAXES 993 821 640 222
INCOME TAXES 388 325 267 98
-------------------------------------------------------------
CORE INCOME $ 605 $ 496 $ 373 $ 124
=============================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 13 $ 9 $ 9 $ 10
=============================================================
RETURN ON AVERAGE ASSETS % 4.65% 5.51% 4.14% 1.24%
=============================================================
AVERAGE LOANS (IN BILLIONS OF DOLLARS) $ 9.3 $ 7.0 $ 7.3 $ 7.7
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) 52.4 44.8 42.4 39.9
END OF PERIOD ACCOUNTS (IN MILLIONS) $ 7.7 $ 6.7 $ 6.3 $ 5.8
NON-INTEREST REVENUE AS % OF TOTAL REVENUE 25.3% 26.4% 26.0% 24.0%
NET CREDIT LOSS RATIO 1.03% 0.91% 1.22% 1.39%
TOTAL PROPRIETARY FUNDS $ 3,363 $ 4,189 $ 2,613 $ 3,911
THIRD PARTY FUNDS 1,566 2,318 2,522 1,900
-------------------------------------------------------------
TOTAL MUTUAL FUND/UIT SALES AT NAV $ 4,929 $ 6,507 $ 5,135 $ 5,811
=============================================================
BRANCHES 445 367 371 376
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER: BANKING/LENDING
MORTGAGE BANKING (1)
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
--------------------------------------------------------
TOTAL REVENUE, NET OF INTEREST EXPENSE $ 1,037 $ 912 $ 819 $ 682
ADJUSTED OPERATING EXPENSES 431 395 354 277
PROVISION FOR LOAN LOSSES (12) 2 28 25
--------------------------------------------------------
CORE INCOME BEFORE TAXES AND MINORITY INTEREST 618 515 437 380
INCOME TAXES 238 196 169 148
MINORITY INTEREST, NET OF TAXES 27 22 19 5
--------------------------------------------------------
CORE INCOME $ 353 $ 297 $ 249 $ 227
========================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 48 $ 40 $ 30 $ 26
RETURN ON AVERAGE ASSETS % 0.74% 0.74% 0.83% 0.87%
END OF PERIOD ACCOUNTS OWNED AND SERVICED (IN MILLIONS)
STUDENT LOANS $ 3.8 $ 3.5 $ 2.7 $ 2.3
MORTGAGES 0.9 0.9 0.7 0.5
CONSUMER FINANCE 0.1 0.1 0.1 0.1
--------------------------------------------------------
TOTAL $ 4.8 $ 4.5 $ 3.5 $ 2.9
========================================================
OWNED AND SERVICED AVERAGE LOANS (IN BILLIONS OF DOLLARS)
MORTGAGES (2) $ 26.3 $ 22.9 $ 18.2 $ 16.1
STUDENT LOANS 17.5 13.4 9.6 8.2
CONSUMER FINANCE 1.3 0.5 0.8 0.8
--------------------------------------------------------
AVERAGE LOANS- ON BALANCE SHEET 45.1 36.8 28.6 25.1
OTHER SERVICED LOANS 67.5 59.6 47.6 38.6
--------------------------------------------------------
TOTAL $ 112.6 $ 96.4 $ 76.2 $ 63.7
========================================================
ORIGINATIONS (IN BILLIONS OF DOLLARS)
MORTGAGE $ 32.3 $ 20.0 $ 19.0 $ 17.0
STUDENT LOANS 4.4 4.4 2.3 2.0
CONSUMER FINANCE 1.8 1.1 0.8 0.6
NET CREDIT LOSS RATIO 0.09% 0.16% 0.18% 0.33%
</Table>
Notes:
(1) Includes Student Loans.
(2) Includes loans held for sale.
<Page>
CITIGROUP
GLOBAL CONSUMER: BANKING/LENDING
NORTH AMERICA CARDS (1)
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
---------------------------------------------------------------
ADJUSTED REVENUES, NET OF INTEREST EXPENSE $13,028 $10,756 $ 9,864 $ 8,569
ADJUSTED OPERATING EXPENSES 4,069 3,954 3,607 3,185
ADJUSTED PROVISION FOR LOAN LOSSES (2) 5,593 3,973 3,979 3,866
---------------------------------------------------------------
CORE INCOME BEFORE TAXES 3,366 2,829 2,278 1,518
INCOME TAXES 1,233 1,042 842 571
---------------------------------------------------------------
CORE INCOME $ 2,133 $ 1,787 $ 1,436 $ 947
===============================================================
MANAGED AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 108 $ 98 $ 86 $ 70
RETURN ON MANAGED ASSETS % 1.98% 1.82% 1.67% 1.35%
CITI CARDS DATA (IN MILLIONS OF DOLLARS) (3):
NET INTEREST REVENUE (4) 10,376 $ 8,108 $ 7,574 $ 6,689
% OF AVERAGE MANAGED LOANS 10.17% 8.84% 9.53% 10.06%
RISK ADJUSTED REVENUE (5) $ 7,120 $ 6,456 $ 5,616 $ 4,466
% OF AVERAGE MANAGED LOANS 6.98% 7.04% 7.06% 6.72%
ADJUSTED OPERATING EXPENSES AS % OF AVG. 4.00% 4.20% 4.34%
MANAGED LOANS
END OF PERIOD MANAGED RECEIVABLES ($B) $ 108.9 $ 103.2 $ 85.6 $ 79.3
END OF PERIOD ACCOUNTS 92.9 90.8 76.7 70.6
TOTAL SALES ($B) $ 218.5 $ 215.7 $ 183.1 $ 153.0
END OF PERIOD LOANS (IN BILLIONS OF DOLLARS)
ON BALANCE SHEET $ 34.2 $ 37.0 $ 27.4 $ 28.7
SECURITIZED 67.0 57.2 55.6 47.6
HELD FOR SALE 6.5 8.1 2.1 2.5
---------------------------------------------------------------
TOTAL $ 107.7 $ 102.3 $ 85.1 $ 78.8
===============================================================
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
ON BALANCE SHEET $ 33.7 $ 33.2 $ 25.8 $ 26.0
SECURITIZED 61.1 53.2 50.7 38.1
HELD FOR SALE 7.3 5.3 3.0 2.4
---------------------------------------------------------------
TOTAL $ 102.1 $ 91.7 $ 79.5 $ 66.5
===============================================================
NET CREDIT LOSSES (IN MILLIONS OF DOLLARS)
ON BALANCE SHEET $ 2,102 $ 1,511 $ 1,322 $ 1,441
SECURITIZED 3,140 2,232 2,452 2,193
HELD FOR SALE 314 178 129 134
---------------------------------------------------------------
TOTAL $ 5,556 $ 3,921 $ 3,903 $ 3,768
===============================================================
COINCIDENT NET CREDIT LOSS RATIO 4.65% 4.28% 4.91% 5.67%
12 MONTH LAGGED NET CREDIT LOSS RATIO 5.11% 4.93% 5.87% 6.98%
</Table>
Notes:
(1) Includes Citi Cards (bankcards and private label cards) and Diners Club.
(2) On a managed basis.
(3) Excludes Diners Club.
(4) Includes delinquency and other risk-based charges.
(5) Risk Adjusted Revenue is adjusted revenues less net credit losses.
<Page>
CITIGROUP
GLOBAL CONSUMER: BANKING/LENDING
CITIFINANCIAL
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
-----------------------------------------------------------
ADJUSTED REVENUES, NET OF INTEREST EXPENSE (1) $5,634 $5,071 $ 4,600 $ 3,791
ADJUSTED OPERATING EXPENSES 2,006 2,256 1,980 1,551
PROVISIONS FOR BENEFITS, CLAIMS AND CREDIT LOSSES 1,830 1,546 1,414 1,208
-----------------------------------------------------------
CORE INCOME BEFORE TAXES 1,798 1,269 1,206 1,032
INCOME TAXES 672 459 445 382
-----------------------------------------------------------
CORE INCOME 1,126 $ 810 $ 761 $ 650
===========================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 65 $ 56 $ 48 $ 40
RETURN ON AVERAGE ASSETS % 1.73% 1.45% 1.59% 1.63%
NET RECEIVABLES (IN BILLIONS OF DOLLARS)
REAL ESTATE SECURED LOANS - OTHER $ 33.5 $ 32.9 $ 28.9 $ 22.4
REAL ESTATE SECURED LOANS - PFS SOURCED $ 7.8 $ 5.2 $ 3.8
PERSONAL LOANS 9.7 9.9 10.0 5.8
AUTO 6.5 4.6 2.5 1.1
SALES FINANCE AND OTHER 2.7 2.7 2.9 1.8
-----------------------------------------------------------
TOTAL $ 60.2 $ 55.3 $ 48.1 $ 31.1
===========================================================
NUMBER OF OFFICES 2,221 2,720 2,876 2,509
AVERAGE YIELD 13.50% 14.14% 14.32% 14.90%
AVERAGE NET INTEREST MARGIN 7.99% 7.79% 8.33% 8.89%
NET CREDIT LOSS RATIO 2.70% 2.57% 2.66% 2.77%
</Table>
Notes:
(1) Excludes realized gains/(losses) on investments.
<Page>
CITIGROUP
GLOBAL CONSUMER: INSURANCE
PRIMERICA FINANCIAL SERVICES
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
---------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE (1) $ 1,979 $ 1,915 $ 1,775 $ 1,654
ADJUSTED OPERATING EXPENSES 683 659 586 546
PROVISION FOR BENEFITS AND CLAIMS 506 496 487 484
---------------------------------------------------------------
CORE INCOME BEFORE TAXES 790 760 702 624
INCOME TAXES 278 268 250 224
---------------------------------------------------------------
CORE INCOME $ 512 $ 492 $ 452 $ 400
===============================================================
LIFE INSURANCE
FACE VALUE (IN BILLIONS) OF:
LIFE INSURANCE ISSUED $ 71.5 $ 67.4 $ 56.2 $ 57.4
LIFE INSURANCE IN FORCE $ 434.8 $ 412.7 $ 394.9 $ 383.7
ANNUALIZED ISSUED PREMIUMS $ 206 $ 198 $ 174 $ 179
DIRECT PREMIUMS $ 1,388 $ 1,326 $ 1,280 $ 1,244
EARNED PREMIUMS $ 1,145 $ 1,106 $ 1,071 $ 1,057
OTHER PRODUCTS
MUTUAL FUND SALES AT NAV:
PROPRIETARY $ 1,977 $ 1,811 $ 1,644 $ 1,462
OTHER FUNDS 982 1,816 1,076 984
---------------------------------------------------------------
U.S. MUTUAL FUND SALES 2,959 3,627 2,720 2,446
CANADA MUTUAL FUND SALES 450 593 404 496
---------------------------------------------------------------
TOTAL MUTUAL FUND SALES $ 3,409 $ 4,220 $ 3,124 $ 2,942
===============================================================
CASH ADVANCED ON $.M.A.R.T. AND $.A.F.E. LOANS (2) $3,869.8 $2,092.3 $1,920.0 $1,461.1
VARIABLE ANNUITY NET WRITTEN PREMIUMS AND DEPOSITS $ 924.0 $1,056.7 $ 990.1 $ 652.0
FINANCIAL NEEDS ANALYSES SUBMITTED 470,380 437,894 490,293 535,017
</Table>
Notes:
(1) Excludes realized gains/(losses) on investments.
(2) The $.M.A.R.T. and $.A.F.E. loan products are marketed by PFS. The
receivables are reflected in the assets of CitiFinancial.
<Page>
CITIGROUP
GLOBAL CONSUMER: INSURANCE
PERSONAL LINES
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE (1) $ 4,464 $ 4,230 $ 4,071 $ 3,666
TOTAL OPERATING EXPENSES 1,079 1,002 1,021 930
CLAIMS AND CLAIM ADJUSTMENT EXPENSES 3,099 2,767 2,572 2,181
------------------------------------------
CORE INCOME BEFORE TAXES AND MINORITY INTEREST 286 461 478 555
INCOME TAXES 78 138 144 172
MINORITY INTEREST, NET OF TAX - 16 54 64
------------------------------------------
CORE INCOME (2) $ 208 $ 307 $ 280 $ 319
==========================================
NET WRITTEN PREMIUMS BY PRODUCT LINE (3)
AUTO $ 2,642 $ 2,408 $ 2,388 $ 2,328
HOMEOWNERS & OTHER 1,524 1,456 1,444 1,162
------------------------------------------
TOTAL NET WRITTEN PREMIUMS (a) $ 4,166 $ 3,864 $ 3,832 $ 3,490
==========================================
NET WRITTEN PREMIUMS BY DISTRIBUTION CHANNEL (3)
INDEPENDENT AGENTS $ 3,366 $ 3,079 $ 2,924 $ 2,712
ALTERNATIVE DISTRIBUTION 687 634 582 424
OTHER 113 151 326 355
------------------------------------------
TOTAL NET WRITTEN PREMIUMS (a) $ 4,166 $ 3,864 $ 3,832 $ 3,491
==========================================
STATUTORY RATIO DEVELOPMENT
EARNED PREMIUMS (b) $ 4,013 $ 3,755 $ 3,660 $ 3,273
LOSSES AND LOSS ADJUSTMENT EXPENSES (c) 3,099 2,776 2,562 2,182
OTHER UNDERWRITING EXPENSES (d) 1,062 1,002 1,024 951
------------------------------------------
TOTAL DEDUCTIONS 4,161 3,778 3,586 3,133
------------------------------------------
STATUTORY UNDERWRITING GAIN/(LOSS) $ (148) $ (23) $ 74 $ 140
==========================================
STATUTORY COMBINED RATIO (3)
LOSS AND LOSS ADJUSTMENT EXPENSE RATIO (c/b) 77.2% 73.9% 70.0% 66.7%
OTHER UNDERWRITING EXPENSE RATIO (d/a) 25.5% 25.9% 26.7% 27.2%
------------------------------------------
COMBINED RATIO 102.7% 99.8% 96.7% 93.9%
==========================================
NET INVESTMENT INCOME (PRE-TAX) $ 416 $ 449 $ 402 $ 389
EFFECTIVE TAX RATE ON NET INVESTMENT INCOME 28.4% 29.4% 28.1% 28.5%
CATASTROPHE LOSSES, NET OF REINSURANCE (AFTER-TAX) $ 86 $ 54 $ 80 $ 44
</Table>
(1) Excludes realized gains/(losses) on investments.
(2) During April 2000, Travelers Insurance Group Inc. completed a cash tender
offer to purchase all the outstanding shares of Class A Common Stock of
Travelers Property Casualty Corp. at a price of $41.95 per share. Results
for the periods prior to April 20, 2000 are net of minority interest.
(3) The 1999 net written premiums include an adjustment associated with a
reinsurance transaction which increased homeowners premiums written by
independent agents by $72mm. Excluding this adjustment, the loss and loss
adjustment expense ratio, other underwriting expense ratio, and combined
ratio were 70.0%, 26.5%, and 96.5%, respectively.
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
WESTERN EUROPE
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $2,555 $2,388 $2,424 $2,124
ADJUSTED OPERATING EXPENSES 1,392 1,396 1,474 1,376
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 414 390 453 340
------------------------------------
CORE INCOME BEFORE TAXES 749 602 497 408
INCOME TAXES 266 218 185 157
------------------------------------
CORE INCOME $ 483 $ 384 $ 312 $ 251
====================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 22 $ 21 $ 23 $ 20
RETURN ON AVERAGE ASSETS (%) 2.20% 1.83% 1.36% 1.26%
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
CARDS $ 2.2 $ 2.2 $ 2.2 $ 1.9
MORTGAGES 2.4 2.1 2.2 2.0
AUTO 1.7 1.4 1.3 1.1
PERSONAL 10.6 10.0 10.5 9.7
OTHER 1.1 1.1 1.1 0.8
------------------------------------
TOTAL $ 18.0 $ 16.8 $ 17.3 $ 15.5
====================================
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) $ 13.3 $ 12.4 $ 13.7 $ 14.3
END OF PERIOD ACCOUNTS (IN MILLIONS) 10.1 10.1 9.6 8.9
END OF PERIOD CARD ACCOUNTS (IN MILLIONS) 2.5 2.6 2.4 2.3
NON-INTEREST REVENUE AS % OF TOTAL REVENUES 29.4% 32.7% 31.0% 31.6%
NET CREDIT LOSS RATIO 1.88% 2.05% 2.00% 1.74%
LOANS 90+ DAYS PAST DUE (%) 4.21 4.78 5.39
TOTAL PROPRIETARY FUNDS $1,455 $1,681 $3,118 $2,544
THIRD PARTY FUNDS 1,084 1,568 628 205
------------------------------------
MUTUAL FUND/UIT SALES AT NAV $2,539 $3,249 $3,746 $2,749
====================================
BRANCHES 436 436 434 447
CONSUMER FINANCE OFFICES 130 130 126 67
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
JAPAN
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
---------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $3,382 $2,781 $1,930 $ 1,268
ADJUSTED OPERATING EXPENSES 1,282 1,151 817 591
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 649 500 315 173
---------------------------------------
CORE INCOME BEFORE TAXES 1,451 1,130 798 504
INCOME TAXES 523 401 304 185
---------------------------------------
CORE INCOME $ 928 $ 729 $ 494 $ 319
=======================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 20 $ 17 $ 13 $ 8
RETURN ON AVERAGE ASSETS (%) 4.64% 4.29% 3.80% 3.99%
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
MORTGAGES $ 4.4 $ 3.9 $ 2.7 $ 1.5
CARDS 1.0 1.0 0.4 0.3
PERSONAL 8.4 6.5 4.5 2.7
OTHER 0.6 0.2 0.2 0.1
---------------------------------------
TOTAL $ 14.4 $ 11.6 $ 7.8 $ 4.6
=======================================
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) $ 14.9 $ 13.6 $ 11.4 $ 8.5
END OF PERIOD ACCOUNTS (IN MILLIONS) 5.2 4.8 3.3 2.7
END OF PERIOD CARD ACCOUNTS (IN MILLIONS) 1.0 1.0 0.4 0.4
NON-INTEREST REVENUE AS % OF TOTAL REVENUES 12.7% 10.3% 7.8% 13.3%
NET CREDIT LOSS RATIO 4.10% 3.50% 3.49% 3.17%
LOANS 90+ DAYS PAST DUE (%) 1.24 0.73 1.19
TOTAL PROPRIETARY FUNDS $ 855 $1,195 $1,149 $ -
THIRD PARTY FUNDS 468 363 111 -
---------------------------------------
MUTUAL FUND/UIT SALES AT NAV $1,323 $1,558 $1,260 $ -
=======================================
BRANCHES 22 22 22 20
CONSUMER FINANCE OFFICES 877 902 683 673
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
ASIA (EX-JAPAN)
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 2,201 $ 2,096 $ 1,847 $ 1,557
ADJUSTED OPERATING EXPENSES 969 971 944 797
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 268 273 341 243
------------------------------------------------
CORE INCOME BEFORE TAXES 964 852 562 517
INCOME TAXES 353 302 210 200
------------------------------------------------
CORE INCOME $ 611 $ 550 $ 352 $ 317
================================================
AVERAGE ASSETS ($B) $ 25 $ 27 $ 26 $ 24
RETURN ON AVERAGE ASSETS (%) 2.44% 2.04% 1.35% 1.32%
AVERAGE LOANS ($B)
MORTGAGES $ 11.2 $ 12.1 $ 12.0 $ 11.2
CARDS 5.0 4.8 4.4 3.6
AUTO 2.3 2.4 2.2 2.1
PERSONAL 1.4 1.3 1.2 1.2
OTHER 1.4 1.6 1.9 1.3
------------------------------------------------
TOTAL $ 21.3 $ 22.2 $ 21.7 $ 19.4
================================================
AVERAGE CUSTOMER DEPOSITS ($B) $ 35.5 $ 34.7 $ 30.7 $ 27.7
END OF PERIOD ACCOUNTS (IN MILLIONS) 9.8 8.2 7.2 6.0
END OF PERIOD CARD ACCOUNTS (IN MILLIONS) 6.2 4.9 4.1 3.7
NON-INTEREST REVENUE AS % OF TOTAL REVENUE 31.0% 32.9% 28.5% 27.0%
NET CREDIT LOSS RATIO 1.21% 1.16% 1.32% 1.12%
LOANS 90+ DAYS PAST DUE (%) 1.73 1.51 1.93 2.35
TOTAL PROPRIETARY FUNDS $ 985 $ 811 $ 1,013 $ 1,306
THIRD PARTY FUNDS 4,163 4,620 2,831 646
------------------------------------------------
MUTUAL FUND/UIT SALES AT NAV $ 5,148 $ 5,431 $ 3,844 $ 1,952
================================================
BRANCHES 79 77 72 65
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
MEXICO (1)
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
-------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 2,117 $ 603 $ 531 $ 291
ADJUSTED OPERATING EXPENSES 1,399 461 369 217
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 254 40 32 6
-------------------------------------------
CORE INCOME BEFORE TAXES 464 102 130 68
INCOME TAXES 91 46 47 26
MINORITY INTEREST, NET OF TAX 27 - - -
-------------------------------------------
CORE INCOME $ 346 $ 56 $ 83 $ 42
===========================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 35 $ 9 $ 10 $ 6
RETURN ON AVERAGE ASSETS (%) 0.99% 0.62% 0.83% 0.70%
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
CONSUMER $ 2.6 $ 0.3 $ 0.3
CORPORATE 7.2 3.2 3.4
GOVERNMENT/GOVERNMENT AGENCIES 1.5 0.2 0.2
---------------------------------
TOTAL $ 11.3 $ 3.7 $ 3.9
=================================
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) $ 14.3 $ 3.2 $ 4.0
END OF PERIOD ACCOUNTS (IN MILLIONS) 16.1 1.7 1.4
NET CREDIT LOSS RATIO 3.72% 3.67% 4.89%
CONSUMER LOANS 90+ DAYS PAST DUE (%) 8.75% 5.17% 6.78%
BRANCHES 1,483 196 241
COMMERCIAL CASH BASIS LOANS (IN MILLIONS) 1,030 79 55
</Table>
Notes:
(1) Comprises both Consumer and Corporate operations in Mexico, including the
results of Banamex (excluding Investment Activities) from Aug. 2001 forward.
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
LATIN AMERICA (EXCLUDING MEXICO)
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 1,380 $ 1,656 $ 1,638 $ 1,393
ADJUSTED OPERATING EXPENSES 938 1,007 916 915
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 299 298 436 263
------------------------------------------------
CORE INCOME BEFORE TAXES 143 351 286 215
INCOME TAXES 23 101 93 93
------------------------------------------------
CORE INCOME $ 120 $ 250 $ 193 $ 122
================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 8 $ 9 $ 10 $ 10
RETURN ON AVERAGE ASSETS (%) 1.50% 2.78% 1.93% 1.22%
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
MORTGAGES $ 2.0 $ 2.1 $ 2.0 $ 1.9
CARDS 1.5 1.7 1.8 1.4
AUTO 0.7 1.1 1.8 2.0
PERSONAL 1.7 1.7 1.7 1.5
OTHER 0.1 0.3 0.4 0.8
------------------------------------------------
TOTAL $ 6.0 $ 6.9 $ 7.7 $ 7.6
================================================
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) $ 10.4 $ 10.6 $ 10.7 $ 9.2
END OF PERIOD ACCOUNTS (IN MILLIONS) 7.1 7.2 7.6 6.1
END OF PERIOD CARD ACCOUNTS (IN MILLIONS) 1.5 1.6 1.6 1.7
NON-INTEREST REVENUE AS % OF TOTAL REVENUE 27.0% 37.9% 34.6% 30.4%
NET CREDIT LOSS RATIO (1) 4.63% 4.67% 5.32% 3.11%
LOANS 90+ DAYS PAST DUE (%) 4.71 3.59 3.99 3.54
TOTAL PROPRIETARY FUNDS $ 4,537 $ 5,054 $ 5,436 $ 4,498
THIRD PARTY FUNDS 681 609 935 561
------------------------------------------------
MUTUAL FUND/UIT SALES AT NAV $ 5,218 $ 5,663 $ 6,371 $ 5,059
================================================
BRANCHES 211 210 206 187
CONSUMER FINANCE OFFICES 110 110 100 0
</Table>
Notes:
(1) The 4Q00 net credit loss ratio includes a 243 basis point increase related
to the adoption of revised FFIEC write-off policies
<Page>
CITIGROUP
GLOBAL CONSUMER: INTERNATIONAL
CENTRAL & EASTERN EUROPE, MIDDLE EAST & AFRICA
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 548 $ 438 $ 350 $ 286
ADJUSTED OPERATING EXPENSES 369 332 253 231
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES 39 33 35 41
------------------------------------------------
CORE INCOME BEFORE TAXES 140 73 62 14
INCOME TAXES 51 23 24 6
------------------------------------------------
CORE INCOME $ 89 $ 50 $ 38 $ 8
================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 4 $ 3 $ 3 $ 3
RETURN ON AVERAGE ASSETS (%) 2.23% 1.67% 1.27% 0.27%
AVERAGE LOANS (IN BILLIONS OF DOLLARS)
CARDS $ 0.6 $ 0.6 $ 0.5 $ 0.4
MORTGAGES 0.2 0.2 0.2 0.2
AUTO 0.4 0.3 0.3 0.3
PERSONAL 0.6 0.4 0.3 0.2
OTHER 0.5 0.4 0.3 0.3
------------------------------------------------
TOTAL $ 2.3 $ 1.9 $ 1.6 $ 1.4
================================================
AVERAGE CUSTOMER DEPOSITS (IN BILLIONS OF DOLLARS) $ 5.9 $ 3.9 $ 3.5 $ 3.4
END OF PERIOD ACCOUNTS (IN MILLIONS) 3.9 2.8 2.1 1.6
END OF PERIOD CARD ACCOUNTS (IN MILLIONS) 2.1 1.8 1.4 1.1
NON-INTEREST REVENUE AS % OF TOTAL REVENUE 41.4% 41.4% 46.2% 48.7%
NET CREDIT LOSS RATIO 1.70% 1.95% 1.96% 2.63%
LOANS 90+ DAYS PAST DUE (%) 1.41 1.37 2.25 2.65
TOTAL PROPRIETARY FUNDS $ 28 $ 52 $ 105 $ 135
THIRD PARTY FUNDS 681 378 243 72
------------------------------------------------
MUTUAL FUND/UIT SALES AT NAV $ 709 $ 430 $ 348 $ 207
================================================
BRANCHES 182 162 32 28
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER:
e_CONSUMER:
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 176 $ 170 $ 108 $ 77
ADJUSTED OPERATING EXPENSES 305 426 285 203
------------------------------------------------
CORE LOSS BEFORE TAXES (BENEFITS) (129) (256) (177) (126)
INCOME TAXES (BENEFITS) (52) (96) (67) (46)
------------------------------------------------
CORE LOSS $ (77) $ (160) $ (110) $ (80)
================================================
</Table>
<Page>
CITIGROUP
GLOBAL CONSUMER:
OTHER CONSUMER
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 50 $ 169 $ 445 $ 307
ADJUSTED OPERATING EXPENSES 220 235 448 410
PROVISION FOR BENEFITS, CLAIMS AND CREDIT LOSSES (59) 7 (103) 47
------------------------------------------------------
CORE INCOME BEFORE TAXES (BENEFITS) (111) (73) 100 (150)
INCOME TAXES (BENEFITS) (40) (29) 38 (49)
------------------------------------------------------
CORE INCOME (LOSS) $ (71) $ (44) $ 62 $(101)
======================================================
</Table>
<Page>
CITIGROUP
GLOBAL CORPORATE
CORPORATE AND INVESTMENT BANK
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
-----------------------------------------------------------------
REVENUES:
COMMISSIONS & FEES $ 3,702 $ 4,471 $ 3,721 $ 3,359
ASSET MANAGEMENT AND ADMINISTRATION FEES 2,035 2,169 1,641 1,326
INVESTMENT BANKING 4,519 4,098 3,353 2,555
PRINCIPAL TRANSACTIONS 3,248 4,238 3,609 597
OTHER INCOME 893 969 576 697
-----------------------------------------------------------------
TOTAL NON-INTEREST REVENUES 14,397 15,945 12,900 8,534
-----------------------------------------------------------------
NET INTEREST AND DIVIDENDS 5,009 3,801 3,600 3,505
-----------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE 19,406 19,746 16,500 12,039
-----------------------------------------------------------------
NON-INTEREST EXPENSES:
COMPENSATION AND BENEFITS 9,424 9,544 7,978 7,021
COMMUNICATIONS 884 872 717 685
OCCUPANCY AND EQUIPMENT 669 654 580 547
FLOOR BROKERAGE AND OTHER PRODUCTION 706 661 473 455
OTHER OPERATING AND ADMINISTRATIVE EXPENSES 1,163 1,537 1,242 1,212
-----------------------------------------------------------------
TOTAL NON-INTEREST EXPENSES 12,846 13,268 10,990 9,920
-----------------------------------------------------------------
PROVISION FOR CREDIT LOSSES 1,117 755 193 71
CORE INCOME BEFORE INCOME TAXES 5,443 5,723 5,317 2,048
INCOME TAXES AND MINORITY INTERST, NET OF TAX 1,934 2,053 1,945 735
-----------------------------------------------------------------
CORE INCOME $ 3,509 $ 3,670 $ 3,372 $ 1,313
=================================================================
PRETAX PROFIT MARGIN 28.0% 29.0% 32.3% 17.0%
NON-COMPENSATION EXPENSES AS A % OF NET REVENUES 17.6% 18.9% 18.3% 24.1%
COMPENSATION AND BENEFITS EXPENSES AS A PERCENT OF 48.6% 48.3% 48.4% 58.3%
NET REVENUES
CLIENT ASSETS (IN BILLIONS OF DOLLARS)
CONSULTING GROUP AND INTERNALLY MANAGED 150 146 126 102
FINANCIAL CONSULTANT (FC) MANAGED 55 56 44 23
-----------------------------------------------------------------
TOTAL ASSETS UNDER FEE-BASED MANAGEMENT (1) 205 202 170 125
TOTAL CLIENT ASSETS 977 977 965 774
PRIVATE CLIENT
FINANCIAL CONSULTANTS 12,927 12,353 11,333 10,803
ANNUALIZED REVENUE PER FC (000) $ 466 $ 584 $ 498 $ 475
BRANCH OFFICES 536 522 476 449
</Table>
Notes
(1) Includes some assets jointly managed with Citigroup Asset Management.
<Page>
CITIGROUP
GLOBAL CORPORATE
EMERGING MARKETS CORPORATE BANKING AND GLOBAL TRANSACTION SERVICES
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 6,928 $ 6,236 $ 5,373 $ 4,701
ADJUSTED OPERATING EXPENSES 4,037 3,845 3,612 3,517
PROVISION FOR LOAN LOSSES 300 164 329 421
------------------------------------------------------------------
CORE INCOME BEFORE TAXES AND MINORITY INTEREST 2,591 2,227 1,432 763
INCOME TAXES 923 808 544 222
MINORITY INTEREST, NET OF TAX 24 16 6 -
------------------------------------------------------------------
CORE INCOME $ 1,644 $ 1,403 $ 882 $ 541
==================================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 113 $ 98 $ 97 $ 46
RETURN ON ASSETS (%) 1.45% 1.43% 0.91% 1.18%
</Table>
<Page>
CITIGROUP
GLOBAL CORPORATE
COMMERCIAL LINES
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
--------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE (1) $ 7,963 $ 7,497 $ 6,815 $ 6,603
TOTAL OPERATING EXPENSES 1,986 1,699 1,631 1,606
CLAIMS AND CLAIM ADJUSTMENT EXPENSES 5,127 4,254 3,795 3,823
--------------------------------------------------------------
CORE INCOME BEFORE TAXES AND MINORITY INTEREST 850 1,544 1,389 1,174
INCOME TAXES 159 401 344 290
MINORITY INTEREST, NET OF TAX - 50 161 143
--------------------------------------------------------------
CORE INCOME (2) $ 691 $ 1,093 $ 884 $ 741
==============================================================
NET WRITTEN PREMIUMS BY MARKET (3)
COMMERCIAL ACCOUNTS $ 2,240 $ 2,099 $ 1,816 $ 1,800
SELECT ACCOUNTS 1,713 1,575 1,494 1,494
SPECIALTY ACCOUNTS 1,905 1,756 1,167 801
NATIONAL ACCOUNTS 419 352 488 624
--------------------------------------------------------------
TOTAL NET WRITTEN PREMIUMS (a) $ 6,277 $ 5,782 $ 4,965 $ 4,719
--------------------------------------------------------------
STATUTORY RATIO DEVELOPMENT
EARNED PREMIUMS (b) $ 6,003 $ 5,369 $ 4,885 $ 4,611
LOSSES AND LOSS ADJUSTMENT EXPENSES (4) (c) 4,956 4,072 3,692 3,605
OTHER UNDERWIRITING EXPENSES (d) 1,827 1,634 1,549 1,400
--------------------------------------------------------------
TOTAL DEDUCTIONS 6,783 5,706 5,241 5,005
--------------------------------------------------------------
STATUTORY UNDERWRITING LOSS $ (780) $ (336) $ (356) $ (394)
==============================================================
STATUTORY COMBINED RATIO: (3), (4), (5)
LOSS AND LOSS ADJUSTMENT EXPENSE RATIO (c/b) 82.6% 75.8% 75.6% 78.2%
OTHER UNDERWRITING EXPENSE RATIO (d/a) 29.1% 28.3% 31.2% 29.7%
--------------------------------------------------------------
COMBINED RATIO 111.7% 104.1% 106.8% 107.9%
==============================================================
NET INVESTMENT INCOME (PRE-TAX) $ 1,678 $ 1,782 $ 1,745 $ 1,723
EFFECTIVE TAX RATE ON NET INVESTMENT INCOME 25.8% 26.7% 26.0% 27.5%
CATASTROPHE LOSSES, NET OF REINSURANCE (AFTER-TAX) $ 471 $ - $ 27 $ 25
</Table>
Notes:
(1) Excludes realized gains/(losses) on investments.
(2) During April 2000, Travelers Insurance Group Inc. completed a cash tender
offer to purchase all the outstanding shares of Class A Common Stock of
Travelers Property Casualty Corp. at a price of $41.95 per share. Results
for the periods prior to April 20, 2000 are net of minority interest.
(3) The 2000 net written premiums include a $131mm adjustment associated with
the acquisition of the Reliance Surety business. Excluding this
transaction, the loss and loss adjustment expense ratio, other
underwriting expense ratio, and combined ratio were 75.8%, 28.0%, and
103.8%, respectively.
(4) 1999 includes the effects of a settlement of an asbestos liability which
increased losses and loss adjustment expenses by $105.2mm. Excluding this
transaction, the loss and loss adjustment expense ratio, other
underwriting expense ratio, and combined ratio were 73.4%, 31.2%, and
104.6%, respectively.
(5) Before policyholder dividends.
<Page>
CITIGROUP
GLOBAL INVESTMENT MANAGEMENT AND PRIVATE BANKING
TRAVELERS LIFE & ANNUITY
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
------------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE (1) $ 4,088 $ 3,891 $ 3,394 $ 3,023
TOTAL OPERATING EXPENSES 329 409 451 402
PROVISIONS FOR BENEFITS AND CLAIMS 2,552 2,325 1,997 1,858
------------------------------------------------------------------
CORE INCOME BEFORE TAXES 1,207 1,157 946 763
INCOME TAXES 386 380 323 265
------------------------------------------------------------------
CORE INCOME $ 821 $ 777 $ 623 $ 498
==================================================================
PRE-TAX CONTRIBUTION BY SOURCE
INDIVIDUAL ANNUITIES $ 452 $ 465 $ 374 $ 292
GROUP ANNUITIES 456 420 279 176
LIFE AND LONG-TERM CARE INSURANCE 262 201 175 154
OTHER (INCLUDES RUN-OFF AND RETURN ON EXCESS CAPITAL) 37 71 118 141
------------------------------------------------------------------
TOTAL $ 1,207 $ 1,157 $ 946 $ 763
==================================================================
INDIVIDUAL ANNUITIES
NET WRITTEN PREMIUMS & DEPOSITS:
FIXED $ 2,120 $ 1,267 $ 1,008 $ 908
VARIABLE 4,000 5,025 4,265 2,892
INDIVIDUAL PAYOUT 59 80 78 70
------------------------------------------------------------------
TOTAL $ 6,179 $ 6,372 $ 5,351 $ 3,870
==================================================================
POLICYHOLDER ACCOUNT BALANCES & BENEFIT RESERVES: (2)
FIXED $ 9,289 $ 8,050 $ 7,994 $ 7,915
VARIABLE 20,117 20,704 19,311 12,951
INDIVIDUAL PAYOUT 626 630 617 596
------------------------------------------------------------------
TOTAL $ 30,032 $29,384 $27,922 $21,462
==================================================================
GROUP ANNUITIES
NET WRITTEN PREMIUMS AND DEPOSITS (3) 7,068 5,528 5,619 4,049
POLICYHOLDER ACCOUNT BALANCES & BENEFIT RESERVES: (2)
GIC'S AND OTHER INVESTMENT CONTRACTS $ 15,345 $12,599 $10,754 $ 9,100
PAYOUT GROUP ANNUITIES 5,647 4,861 4,363 4,148
------------------------------------------------------------------
TOTAL $ 20,992 $17,460 $15,117 $13,248
==================================================================
INDIVIDUAL LIFE INSURANCE
NET WRITTEN PREMIUMS AND DEPOSITS
DIRECT PERIODIC PREMIUMS AND DEPOSITS $ 652 $ 511 $ 409 $ 322
SINGLE PREMIUM DEPOSITS 208 98 84 85
REINSURANCE (96) (83) (71) (66)
------------------------------------------------------------------
TOTAL $ 764 $ 526 $ 422 $ 341
==================================================================
POLICYHOLDER ACCOUNT BALANCES & BENEFIT RESERVES $ 3,401 $ 2,983 $ 2,682 $ 2,436
LIFE INSURANCE IN FORCE (IN BILLIONS, FACE AMT.) $ 75 $ 67 $ 62 $ 55
LIFE INSURANCE ISSUED (IN BILLIONS, FACE AMT.) $ 14 $ 12 $ 11 $ 9
ALL BUSINESSES
NET INVESTMENT INCOME (PRETAX) $ 2,572 $ 2,499 $ 2,277 $ 1,968
INTEREST CREDITED TO CONTRACTHOLDERS $ 1,200 $ 1,051 $ 937 $ 876
STATUTORY DATA
TRAVELERS INSURANCE COMPANY
STATUTORY CAPITAL AND SURPLUS $ 5,098 $ 5,160 $ 5,027 $ 4,954
SURPLUS TO LIABILITIES RATIO 17.4% 20.2% 21.2% 20.4%
</Table>
Notes:
(1) Excludes realized gains/ (losses) on investments.
(2) Includes general account, separate accounts and managed funds.
(3) Excludes deposits of $320mm in 2000, $580mm in 1999 and $257mm in 1998
related to Travelers plans previously managed externally.
<Page>
CITIGROUP
GLOBAL INVESTMENT MANAGEMENT & PRIVATE BANKING
THE CITIGROUP PRIVATE BANK
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
---------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE $ 1,536 $ 1,409 $ 1,212 $ 1,130
ADJUSTED OPERATING EXPENSES 924 874 770 727
PROVISION FOR CREDIT LOSSES 23 24 12 6
---------------------------------------------------------------
CORE INCOME BEFORE TAXES 589 511 430 397
INCOME TAXES 211 188 161 154
---------------------------------------------------------------
CORE INCOME $ 378 $ 323 $ 269 $ 243
===============================================================
AVERAGE ASSETS (IN BILLIONS OF DOLLARS) $ 26 $ 25 $ 20 $ 17
RETURN ON AVERAGE ASSETS 1.45% 1.29% 1.35% 1.43%
CLIENT BUSINESS VOLUMES (IN BILLIONS OF DOLLARS):
PROPRIETARY MANAGED ASSETS $ 31 $ 31 $ 28 $ 28
OTHER ASSETS UNDER FEE BASED MANAGEMENT 7 5 4 1
BANKING AND FIDUCIARY DEPOSITS 34 31 27 28
LOANS 27 28 24 18
OTHER, PRINCIPALLY CUSTODY ACCOUNTS 59 58 57 41
---------------------------------------------------------------
CLIENT BUSINESS VOLUMES $ 158 $ 153 $ 140 $ 116
===============================================================
REVENUES:
CUSTOMER REVENUES $ 1,334 $ 1,262 $ 1,054 $ 978
OTHER REVENUES (1) 202 147 158 152
---------------------------------------------------------------
TOTAL REVENUES $ 1,536 $ 1,409 $ 1,212 $ 1,130
===============================================================
UNITED STATES $ 559 $ 497 $ 430 $ 387
INTERNATIONAL 977 912 782 743
---------------------------------------------------------------
TOTAL REVENUES $ 1,536 $ 1,409 $ 1,212 $ 1,130
===============================================================
CREDIT LOSS RATIO (2) 0.06% 0.09% 0.10%
</Table>
Notes:
(1) Principally allocated equity and treasury revenues.
(2) The net credit loss ratio in the 2000 fourth quarter includes an 8 basis
point increase related to ICERC mandated write-offs.
<Page>
CITIGROUP
GLOBAL INVESTMENT MANAGEMENT & PRIVATE BANKING
CITIGROUP ASSET MANAGEMENT
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
--------------------------------------------------------------
REVENUES:
INVESTMENT ADVISORY, ADMIN. & DISTRIBUTION FEES $ 1,911 $ 1,791 $ 1,409 $ 1,204
UNIT INVESTMENT TRUST REVENUES- NET 23 39 48 42
OTHER REVENUES, NET INTEREST EXPENSE (5) 15 36 26
--------------------------------------------------------------
TOTAL REVENUES, NET OF INTEREST EXPENSE 1,929 1,845 1,493 1,272
--------------------------------------------------------------
EXPENSES:
EMPLOYEE COMPENSATION AND BENEFITS 631 579 443 386
MUTUAL FUND COMMISSION EXPENSE 134 118 120 125
OTHER EXPENSES 544 549 387 325
--------------------------------------------------------------
TOTAL EXPENSES 1,309 1,246 950 836
--------------------------------------------------------------
PROVISIONS FOR BENEFITS AND CLAIMS (1) 57 26 -
CORE INCOME BEFORE INCOME TAXES & MINORITY INTEREST 563 573 543 436
INCOME TAXES & MINORITY INTEREST, NET OF TAX 227 228 216 172
--------------------------------------------------------------
CORE INCOME $ 336 $ 345 $ 327 $ 264
==============================================================
PRE-TAX PROFIT MARGIN 29% 31% 36% 34%
ASSETS UNDER MANAGEMENT BY PRODUCT TYPE (IN BILLION OF DOLLARS):
RETAIL $ 66.7 $ 90.6 $ 78.0 $ 70.0
INSTITUTIONAL 53.3 23.9 19.3 13.7
--------------------------------------------------------------
TOTAL MONEY MARKET AND INSTITUTIONAL LIQUIDITY FUNDS $ 120.0 $ 114.5 $ 97.3 $ 83.7
LONG-TERM MUTUAL FUNDS:
EQUITY/BALANCED $ 52.3 $ 53.8 $ 52.0 $ 42.0
TAXABLE FIXED INCOME 18.9 14.4 18.1 25.2
TAX EXEMPT FIXED INCOME 11.2 8.9 8.8 10.8
ANNUITIES 6.7 6.0 5.4 3.7
--------------------------------------------------------------
TOTAL LONG-TERM MUTUAL FUNDS $ 89.1 $ 83.1 $ 84.3 $ 81.7
MANAGED ACCOUNTS:
PRIVATE CLIENT $ 66.7 $ 61.2 $ 51.1 $ 40.4
INSTITUTIONAL 89.8 91.7 100 94
EMERGING MARKETS PENSION ADMINISTRATION 5.0 4 0 0
--------------------------------------------------------------
TOTAL MANAGED ACCOUNTS $ 161.5 $ 158.3 $ 151.1 $ 134.4
UNIT INVESTMENT TRUSTS 6.9 9.4 12.9 12.9
ALTERNATIVE INVESTMENT STRATEGIES 39.4 35.8 32.7 27.2
--------------------------------------------------------------
TOTAL ASSETS UNDER MANAGEMENT (2) $ 416.9 $ 399.7 $ 377.0 $ 339.9
==============================================================
ASSETS UNDER MANAGEMENT BY CLIENT TYPE (IN BILLIONS OF DOLLARS):
RETAIL $ 227.3 $ 242.2 $ 222.6 $ 202.1
EMERGING MARKETS PENSION ADMINISTRATION 5.0 4.0 - -
INSTITUTIONAL (INCLUDING ALTERNATIVE INVESTMENT STRATEGIES) 184.6 153.5 154.7 137.8
--------------------------------------------------------------
TOTAL ASSETS UNDER MANAGEMENT $ 416.9 $ 399.7 $ 377.3 $ 339.9
==============================================================
GLOBAL RETIREMENT SERVICES ($B):
--------------------------------------------------------------
ASSETS UNDER MANAGEMENT (3) $ 14.3 $ 13.1 $ 12.3 $ 9.9
==============================================================
</Table>
Notes:
(1) Includes a fourth quarter 2000 year-to-date reclassification which increased
both Revenues and Provisions for Benefits and claims by $26mm.
(2) Includes $31B in 1999 and $30B in 2000 for Citigroup Private Bank clients.
(3) Includes assets under management for both majority- and minority-owned
pension fund administration businesses in Latin America.
<Page>
CITIGROUP
INVESTMENT ACTIVITIES
<Table>
<Caption>
($ IN MILLIONS)
2001 2000 1999 1998
----------------------------------------------------------------
REVENUES:
PROPRIETARY INVESTMENTS (1) $ 380 $ 2,042 $ 800 $ 743
LDC DEBT SALES/REFINANCING 59 331 78 261
INSURANCE PORTFOLIO GAINS (LOSSES) (2) 468 (64) 211 319
----------------------------------------------------------------
TOTAL REVENUES $ 907 $ 2,309 $ 1,089 $ 1,323
================================================================
CORE INCOME:
PROPRIETARY INVESTMENTS (1) $ 191 $ 1,213 $ 478 $ 341
LDC DEBT SALES/REFINANCING 35 206 47 303
INSURANCE PORTFOLIO GAINS (LOSSES) (2) 304 (36) 125 192
----------------------------------------------------------------
TOTAL CORE INCOME $ 530 $ 1,383 $ 650 $ 836
================================================================
PERIOD END ASSETS:
PROPRIETARY INVESTMENTS $ 8,471 $ 8,644 $ 7,520 $ 5,731
LDC DEBT SALES/REFINANCING 798 2,118 3,371 3,286
----------------------------------------------------------------
TOTAL PERIOD END ASSETS $ 9,269 $10,762 $10,891 $ 9,017
================================================================
</Table>
Notes:
(1) Includes Venture Capital Activities and certain other corporate investments
(2) Represents gains (losses) on investments held by insurance companies managed
by The Travelers Insurance Business