Citi Alternative Investments Launches Citi Infrastructure Investors

With a long history of introducing innovative products, Citi
Alternative Investments (CAI) has announced the creation of a new
investment center -- Citi Infrastructure Investors (CII). CII will
capitalize on both the growing need for infrastructure investment
around the world and the increased private sector involvement in the
infrastructure sector. CII will manage equity investments in
infrastructure assets and will oversee a management company focused on
the operation of these investments.

CII will be co-headed by Juan Bejar and Felicity Gates, each of
whom has more than 15 years of experience in direct infrastructure
investing and in managing infrastructure assets. In addition, Colin
Campbell, J.G. Duthie-Jackson and Michael Froman have also joined CII
as Managing Directors.

"This new initiative will greatly complement the management of our
existing asset classes - private equity, hedge funds, real estate and
structured products," said Lew Kaden, interim CEO of Citi Alternative
Investments. "Juan, Felicity and the rest of the team bring unmatched
capabilities to this sector, including deep experience in making
principal investments in this area and in enhancing the operational
efficiencies of the underlying infrastructure assets."

Biographical Information:

Juan Bejar: Juan comes to CII from Ferrovial Infrastructure in
Spain, where he served as Chief Executive Officer. He most recently
was also Executive Vice-Chairman of Cintra, General Manager of
Ferrovial Airports and Non-executive Director of BAA. During his 16
years with Group Ferrovial, he also served as CEO of Cintra. Juan,
working with Ferrovial's senior management, led the GBP 16.3B
acquisition of BAA. He led numerous other landmark infrastructure
transactions, including the 407 ETR toll road concession in Canada,
the sale of 40% of Cintra to Macquarie Infrastructure Group in 2001,
the EUR 1.5bn Cintra IPO in 2004 and the award of the first three toll
road privatizations in the U.S.A. - the Chicago Skyway, Indiana Toll
Road and TTC-35 in Texas. Capitalizing on his significant experience
of managing infrastructure assets and extracting operational
efficiencies, Juan will head the asset management company, Citi
Infrastructure Management Company. Juan will be based in London.

Felicity Gates: Felicity joins CII from Deutsche Bank, where she
was Head of RREEF's North America Infrastructure Business. She started
her 20-year career in infrastructure in Australia, where she worked
for Macquarie Bank and served as Head of Infrastructure for RREEF
before being asked to set up RREEF's North America and European
infrastructure funds as global Chief Investment Officer. She managed
infrastructure portfolios on behalf of pension funds for the last 13
years and has played central roles in several landmark transactions in
Australia, including the AUD1.5B United Energy privatization and
subsequent IPO and the AUD1.3B Melbourne airport privatization.
Felicity will be based in New York.

Colin Campbell: Colin joins CII from Citi Markets and Banking,
where he was a founding member of the Global Banking Infrastructure
team. He has 14 years of experience in transport infrastructure at
Citi and UBS, including advising on the purchase of BAA, the purchase
of NATS, Cintra's IPO, the sale of NCP to 3i, the sale of CSX World
Terminals to Dubai Ports, Autostrade's take-over by Schemaventotto and
the sale of Sydney Airport to Macquarie and its partners. He will be
based in London.

J.G. Duthie-Jackson: J.G. comes to CII with 11 years of experience
in infrastructure at Citi and at Schroders, most recently within
Citi's European Infrastructure and Corporate Securitization group,
where he worked on the BAA deal, as well as on Terra Firma's buyout of
East Surrey Holdings and the debt restructuring of Land Securities.
J.G. is credited with creating the leveraged financing model for UK
regulated water companies and was involved in the acquisition of
Hyder, the refinancing and sale of Welsh Water, the refinancing of
Anglian Water and the acquisition of Southern Water. He will be based
in London.

Michael Froman: Michael is currently Chief Operating Officer of
CAI, overseeing the business on a day-to-day basis. He has previously
served as CEO of CitiInsurance, Citi's international insurance
business, Head of Strategy for Emerging Markets and Chief of Staff of
the Office of the Chairman. Michael brings to this initiative relevant
experience in public policy and in the U.S. Government, including his
service at the White House and the U.S. Treasury Department. In
addition to being part of the senior team of CII, Mike will oversee
this investment center, as well as the recently launched Citi
Sustainable Development Investments (CSDI) investment center, on
behalf of CAI. He will be based in New York.

Citi 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 and structured
products. CAI manages capital on behalf of Citi, as well as
third-party institutional and high net worth investors. As of March
31, 2007, CAI had approximately $53.7 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 Citi.

Citi, 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. Citi's major
brand names include Citibank, CitiFinancial, Primerica, Citi Smith
Barney and Banamex. Additional information may be found at
www.citigroup.com or www.citi.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.