Exhibit 99.1


                                                        [CITIGROUP LOGO]

For immediate release
Citigroup Inc. (NYSE symbol: C)
March 2, 2005

               Citigroup Reaches Settlement on Global Crossing
                   Class Action Litigation for $75 Million

New York, New York - Citigroup today announced it has settled class action
litigation brought on behalf of purchasers of Global Crossing securities which
was pending in the United States District Court for the Southern District of
New York as In re Global Crossing Ltd. Securities Litigation, No. 02 Civ. 910
(GEL).

Under the terms of the settlement, Citigroup will make a payment of $75 million
pre-tax, approximately $46 million after tax, to the settlement class, which
consists of all investors in publicly traded securities of Global Crossing or
Asia Global Crossing during the period from February 1, 1999, through and
including December 8, 2003.

The plaintiffs currently contemplate allocating two-thirds of the settlement
amount to investors in underwritten public offerings of Global Crossing
securities and one third to other investors in Global Crossing securities; the
terms of the settlement and the final plan of allocation will be subject to
review by the Court. Plaintiffs' attorneys' fees will be determined by the
Court and paid out of the settlement amount.

In the settlement agreement, Citigroup specifically denied any violation of law
and stated that it was entering into the settlement "solely to eliminate the
uncertainties, burden and expense of further protracted litigation."  The
settlement payment is covered by existing reserves and is part of Citigroup's
effort to resolve open litigation issues promptly and fairly whenever possible.


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Media:              Leah Johnson             (212) 559-9446
                    Shannon Bell             (212) 793-6206
Investors:          Arthur Tildesley         (212) 559-2718
                    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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