Tax Basis Worksheet

Please be aware that the information contained herein is general in nature and should not be construed to be legal, business, or tax advice.  You should consult your personal tax advisor as to the particular tax consequences of each transaction highlighted here, including the applicability and effect of any state, local, and foreign tax laws.

Citigroup Inc. Spin-off of Travelers Property & Casualty Corp.

 On August 20, 2002, Citigroup completed the spin-off of Travelers Property & Casualty by distributing to its shareholders 4 shares of Travelers Class A and 8 shares of Travelers Class B stock for every 100 shares of Citigroup stock owned.  Because the spin-off was a tax-free distribution, the tax basis allocation of the new shares should be:

                        Citigroup, Inc.                                      93.63%

                        Travelers Class A                                  1.98%

                        Travelers Class B                                  4.39%

(Based upon the cost basis of Citigroup stock purchased or owned prior to 08/20/2002)

For detailed information please go to Investor Relations on the Citigroup website www.citigroup.com