Citigroup Private Equity Closes $3.297 Billion Private Equity Fund

Citigroup Private Equity today announced the recent closing of
Citigroup Capital Partners II ("CCP II"), a $3.297 billion fund that
makes direct private equity investments in partnership with leading
private equity firms.

Citigroup Capital Partners II seeks to construct a
well-diversified portfolio of direct investments in equity or
equity-related securities or instruments with a primary focus on
leveraged buyouts and recapitalizations. Investments are expected to
be made in partnership with a variety of private equity firms and be
diversified across a range of industries, geographies and transaction
sizes. CCP II closed with $3.297 billion of committed capital,
comprising commitments from Citigroup clients and employees, as well
as Citigroup proprietary capital.

"Our strong and experienced investment team, distinct strategy and
high level of client service all contributed to making this
fundraising a success," said John Barber, Managing Partner of
Citigroup Private Equity. "We believe there continues to be a
significant need for capital in the private equity marketplace. CCP II
provides a valuable and timely source of capital that has enabled
Citigroup Private Equity to partner with premier private equity firms
to seek to build a diverse portfolio of investments."

Barber further commented, "Our private equity relationships, which
are valuable in sourcing and evaluating investment opportunities,
combined with Citigroup's vast network and expertise, create a
competitive advantage for CCP II. We are pleased with the success of
the fundraising, and look forward to working with our partners to
continue to source and evaluate new investments for the portfolio."

As part of Citigroup Alternative Investments, Citigroup Private
Equity manages and advises on approximately $12 billion(1) in private
equity fund commitments, non-control direct private equity investments
and mezzanine investments on behalf of proprietary accounts and
clients of Citigroup Inc. (NYSE: C). Citigroup Private Equity's
experienced investment professionals are based in New York and London
and oversee more than 330 limited partnership investments in private
equity and over 75 direct investments.

About Citigroup Alternative Investments:

Citigroup Alternative Investments is an alternative investment
platform that manages a wide range of products across four asset
classes, including private equity, hedge funds, real estate,
structured products and managed futures. CAI manages capital on behalf
of Citigroup, as well as third-party institutional and high net worth
investors. As of September 30, 2006, CAI had approximately $44.9
billion of un-levered assets under management, ranking CAI among the
world's largest alternative asset managers. CAI's goal is to enable
its 14 investment centers to retain the entrepreneurial qualities
required to capitalize on evolving opportunities, while benefiting
from the intellectual, operational and financial resources of
Citigroup.

Citigroup (NYSE: C), a 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 wealth management. Major
brand names under Citigroup's trademark red umbrella include Citibank,
CitiFinancial, Primerica, Smith Barney and Banamex. Additional
information may be found at www.citigroup.com.

(1) Reported Assets Under Management are as of December 31, 2006.
The total includes discretionary, non-discretionary and monitored
accounts representing client, proprietary and employee capital. The
assets include committed, but not yet funded, amounts and are valued
using a variety of methods. A minority of the assets may be valued as
of the end of the prior quarter.