Exhibit 99.1
FOR IMMEDIATE RELEASE
AUGUST 1, 2002
CITIGROUP (NYSE SYMBOL: C)

              CITIGROUP ANNOUNCES RECORD DATE AND DISTRIBUTION DATE
       FOR DISTRIBUTION OF TRAVELERS PROPERTY CASUALTY CORP. COMMON STOCK

NEW YORK - Citigroup (NYSE:C) today announced that it will distribute to
Citigroup stockholders a total of 219,050,000 shares of class A common stock and
450,050,000 shares of class B common stock of Travelers Property Casualty Corp.
(Travelers).

The distribution will be payable on or about August 20, 2002 to Citigroup
stockholders of record as of 5:00 p.m. Eastern Time on August 9, 2002.

Citigroup currently owns 269 million shares of Travelers class A common stock
and 500 million shares of Travelers class B common stock, which represent
approximately 76.9 percent of the total outstanding common stock of Travelers.

THE DISTRIBUTION

Citigroup estimates that 0.0432950 of a share of Travelers class A common stock
and 0.0889519 of a share of Travelers class B common stock will be distributed
for each outstanding share of Citigroup common stock (approximately 4.32 shares
of Travelers class A common stock and 8.89 shares of Travelers class B common
stock for each 100 shares of Citigroup common stock).

The final ratio will be fixed after the record date and will be calculated based
upon the ratio of the number of shares of Travelers class A common stock and
Travelers class B common stock to be distributed by Citigroup to the actual
number of shares of Citigroup common stock outstanding on August 9, 2002, the
record date. Citigroup will announce the final ratio shortly after the record
date.

As of July 31, 2002, Citigroup had approximately 5,059,472,031 shares
outstanding. Fractional shares of Travelers class A common stock or Travelers
class B common stock will not be issued. Any Citigroup stockholder entitled to
receive a fractional share will instead receive a cash payment.

Citigroup has received a private-letter ruling from the Internal Revenue Service
to the effect that the distribution will be tax-free to Citigroup and its
stockholders for U.S. federal income-tax purposes. Cash received in lieu of
fractional shares will be taxable.

Ownership of the Travelers common stock received by Citigroup stockholders will
be registered in book-entry form. Each registered holder of Citigroup common
stock will receive a stock distribution statement from the distribution agent.
The statement will indicate the number of full shares of Travelers class A
common stock and Travelers class B common stock that have been credited to that
Citigroup stockholder.

In March 2002, Travelers completed its initial public offering of 231 million
shares of its class A common stock in the largest ever IPO in the U.S. insurance
sector and the fifth largest IPO in U.S. history at the time. Travelers class A
common stock is now listed on the New York Stock Exchange (NYSE) under the
symbol "TAP.A." Travelers has filed an application to list its class B common
stock on the NYSE under the symbol "TAP.B."





In connection with the distribution, "ex-distribution" trading in shares of
Citigroup common stock and "when-issued" trading in shares of Travelers class A
common stock and Travelers class B common stock, are expected to commence on the
NYSE on Wednesday, August 7, 2002.

FURTHER INFORMATION ON THE DISTRIBUTION

After August 9, 2002, an information statement will be mailed to Citigroup
stockholders of record as of 5:00 p.m. Eastern Time on the record date. The
information statement will include the final ratio of shares of Travelers class
A common stock and Travelers class B common stock to be distributed for each
share of Citigroup common stock.

                                    # # #

Citigroup (NYSE: C), the preeminent global financial services company with some
200 million customer accounts in more than 100 countries, provides 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, Salomon Smith Barney, Banamex, and Travelers.
Additional information may be found at: WWW.CITIGROUP.COM.