Citi Board Nominates Franz B. Humer and Joan E. Spero to Board of Directors

New York, NY - 9 March 2012

Citi's Board of Directors today announced that it has nominated Franz B. Humer and Joan E. Spero as new independent director candidates to stand for election at Citi's annual meeting of stockholders on April 17, 2012. Dr. Humer is Chairman of Roche Holding Ltd, and Ms. Spero is a Senior Research Scholar at Columbia University School of International Public Affairs.

"We are pleased to nominate Franz Humer and Joan Spero to the slate of candidates for Citi’s Board of Directors,” said Richard D. Parsons, Chairman of the Board of Directors of Citi. “Dr. Humer’s expertise in international and consumer business as well as his many years of experience leading large organizations in the U.S. and Europe make him an excellent candidate for the board. And we look forward to tapping the vast experience Ms. Spero will bring as a leader in government and international business as well as her knowledge of regulatory compliance and corporate governance issues. Both candidates will bring considerable insight to the Board as Citi continues to grow internationally and build on its unmatched global strengths.”

“Throughout our history, Citi has looked across international borders and helped connect the world for our clients,” said Vikram Pandit, Chief Executive Officer of Citi. “While we’ve returned to our core strengths of providing banking services to our clients, we continue to see international growth as our greatest opportunity and our global footprint as our greatest strength. These two candidates for the board have a deep understanding of the challenges and opportunities we face as we continue to execute our global growth plans.”

Franz B. Humer

Dr. Humer, 65, is the Chairman of Roche Holding Ltd and served as Chief Executive Officer of the Roche Group from 1998 until 2008. He previously served as Chief Operating Officer and Head of Pharmaceuticals for F. Hoffmann-La Roche Ltd. Dr. Humer is Chairman of Diageo plc. Dr. Humer is the chairman of Friends of Phelophepa Foundation, the chairman of INSEAD and chairman of the International Centre for Missing and Exploited Children. He is a member of the European Round Table of Industrialists, a member of the board of Salzburg University and a member of the board of Jacobs Holding AG.

Joan E. Spero

Ms. Spero, 67, is a Senior Research Scholar at Columbia University School of International and Public Affairs. From 1997 to 2008, Ms. Spero was the President of the Doris Duke Charitable Foundation. Prior to that, she was the Under Secretary of State for Economics, Business and Agricultural Affairs during the Clinton Administration and had previously served in the Carter Administration as Ambassador to the United Nations for Economic and Social Affairs. From 1981 to 1993, Ms. Spero held a number of executive positions at the American Express Company including Executive Vice President of Corporate Affairs and Communications. She is a member of the board of directors for IBM and International Paper, a member of the Council of American Ambassadors, the Academy of Diplomacy, and the American Philosophical Society, a trustee of the International Center for Transitional Justice, the Morgridge Institute for Research and the Wisconsin Alumni Research Foundation, and a trustee emeritus of Amherst College, the Brookings Institution, Columbia University and the Council on Foreign Relations.

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