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Empresas y finanzas

Citigroup to Acquire ABN AMRO Mortgage Group


    Citigroup announced today that it will acquire ABN AMRO Mortgage
    Group (AAMG), a national originator and servicer of prime residential
    mortgage loans. Citigroup will purchase approximately $9 billion in
    net assets and ABN AMRO Mortgage Group's approximately $224 billion
    mortgage servicing portfolio. ABN AMRO Mortgage Group's primary
    originations business is via wholesale lending under the InterFirst
    brand. ABN AMRO Mortgage Group is a subsidiary of LaSalle Bank
    Corporation and ABN AMRO Bank N.V. and is headquartered in Ann Arbor,
    Michigan. Terms of the transaction were not disclosed.

    Carl Levinson, President and Chief Executive Officer of
    Citigroup's Consumer Lending Group, said, "The acquisition of ABN AMRO
    Mortgage Group demonstrates our commitment to grow our consumer
    lending business in the U.S. As a best-in-class provider and servicer
    of residential mortgages, we will be able to provide ABN AMRO Mortgage
    Group's customers with an expanded suite of products while increasing
    our distribution channels in new and existing markets."

    The acquisition of ABN AMRO Mortgage Group will add approximately
    1.5 million servicing customers to CitiMortgage, Inc.'s portfolio as
    well as 2,500 wholesale brokers to its wholesale lending business.
    When combined with CitiMortgage's strong market presence, the combined
    company will move from number five to number four in mortgage loan
    servicing and strengthen CitiMortgage's number three market position
    in originations, based on third quarter 2006 numbers.

    "This compelling transaction will enable us to serve more
    customers better and will allow us to deliver greater efficiencies
    through combined product, service and leading-edge technology
    platforms," said Bill Beckmann, President of CitiMortgage. "ABN AMRO
    Mortgage Group has a leading wholesale originations franchise, a
    strong and active broker network and an excellent loan servicing
    business, which will complement our continued growth in all channels
    -- Retail, Correspondent and Wholesale. We look forward to delivering
    a wide array of outstanding products and services to brokers, allowing
    them to significantly expand their offerings to customers."

    The transaction is expected to close in the first quarter of 2007
    and is subject to customary regulatory filings and approvals.

    Headquartered in St. Louis, Missouri, CitiMortgage, Inc.
    specializes in the nationwide lending of residential home mortgages
    through Retail, Wholesale, and Correspondent loan origination
    channels.

    Citigroup, 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, 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

    Certain statements in this document are "forward-looking
    statements" within the meaning of the Private Securities Litigation
    Reform Act. These statements are based on management's current
    expectations and are subject to uncertainty and changes in
    circumstances. Actual results may differ materially from those
    included in these statements due to a variety of factors. More
    information about these factors is contained in Citigroup's filings
    with the Securities and Exchange Commission.