8-K

U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)  October 15, 2007

Citigroup Inc.

(Exact name of Registrant as specified in its charter)

Delaware	1-9924	52-1568099
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

399 Park Avenue,
New York, New York	10043
(Address of principal executive offices)	(Zip Code)

(212) 559-1000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

CITIGROUP INC.
Current Report on Form 8-K

Item 2.02  Results of Operations and Financial Condition.

On October 15, 2007, Citigroup Inc. announced its results of operations for the quarter ended September 30, 2007. A copy of the related press release is being filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference in its entirety. In addition, a copy of the Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2007 is being filed as Exhibit 99.2 to this Form 8-K and is incorporated herein by reference in its entirety.

The information furnished under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended.

Item 9.01  Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number
99.1	Press Release, dated October 15, 2007, issued by Citigroup Inc.
99.2	Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2007.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		CITIGROUP INC.
Dated: October 15, 2007
	By:	/s/ JOHN C. GERSPACH
		Name: John C. Gerspach
		Title: Controller and Chief Accounting Officer

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EXHIBIT INDEX

Exhibit Number
99.1	Press Release, dated October 15, 2007, issued by Citigroup Inc.
99.2	Citigroup Inc. Quarterly Financial Data Supplement for the quarter ended September 30, 2007.

EX-99.1

Exhibit 99.1

CITI REPORTS NET INCOME OF $2.4 BILLION, EARNINGS PER SHARE OF $0.47

REVENUES OF $22.7 BILLION, UP 6%

ROBUST INTERNATIONAL VOLUME GROWTH; INTERNATIONAL REVENUES UP 30%

RECORD REVENUES IN INTERNATIONAL CONSUMER, TRANSACTION SERVICES
AND WEALTH MANAGEMENT

INCOME DECLINE PRIMARILY DRIVEN BY LOWER REVENUES IN FIXED INCOME
AND HIGHER CONSUMER CREDIT COSTS

New York, NY, October 15, 2007 — Citigroup Inc. (NYSE:C) today reported net income for the 2007 third quarter of $2.38 billion, or $0.47 per share, a decline of 57% from the prior-year quarter.  Results include a $729 million pre-tax gain on the sale of Redecard shares.  Return on equity was 7.4%.  On October 1, 2007, Citi announced that it expected third quarter 2007 net income to decline in the range of 60%, subject to finalizing third quarter results.

Management Comment

“This was a disappointing quarter, even in the context of the dislocations in the sub-prime mortgage and credit markets.  A significant amount of our income decline was in our fixed income business, where we have a long track record of strong earnings, and this quarter’s performance was well below our expectations.  Although we generated strong momentum in many of our franchises, our fixed income results, along with higher credit costs in global consumer, led to significantly lower net income,” said Charles Prince, Chairman and CEO.

“Importantly, many of our businesses performed well this quarter.  Our international franchise continued to expand rapidly, with revenues up 30%.  Our global wealth management franchise generated record revenues and transaction services posted another record quarter on double-digit earnings growth.  In securities and banking, equity markets and underwriting revenues were up a combined 33%, and our advisory revenues grew 29%.  Volumes in our consumer franchise continued to grow strongly with deposits up 18%, managed loans up 13%, and we opened 96 new branches around the world,” said Prince.

“As we move in to the fourth quarter, we are focusing closely on improving those areas where we performed below expectation, while at the same time continuing to execute on our strategic priorities,” said Prince.

Citi Segment Results

	Third Quarter Revenues						%		Third Quarter Net Income						%
(In Millions of Dollars, except EPS)	2007			2006			Change		2007			2006			Change
Global Consumer	$	14,683		$	12,834		14	%	$	1,783		$	3,195		(44	)%
Markets & Banking	4,603			6,067			(24	)	446			1,721			(74	)
Global Wealth Management	3,509			2,486			41		489			399			23
Alternative Investments	125			334			(63	)	(67		)	117			NM
Corporate/Other	(257		)	(299		)	14		(273		)	(129		)	NM
Results from Continuing Operations	$	22,663		$	21,422		6	%	$	2,378		$	5,303		(55	)%
Discontinued Operations									—			202			NM
Total Citi									$	2,378		$	5,505		(57	)%
Earnings per Share from Continuing Operations									$	0.47		$	1.06		(56	)%
Earnings per Share									$	0.47		$	1.10		(57	)%
International results (1)	$	12,256		$	9,460		30	%	$	2,035		$	2,276		(11	)%

(1) International results are fully reflected in the Total Citi results above, and exclude Alternative Investments, Corporate/Other, and Discontinued Operations.

NM  Not meaningful

1

THIRD QUARTER SUMMARY

·Revenues were up 6%, led by 30% growth in international revenues.

·Global consumer revenues increased 14%, driven by international consumer up 35%, which included a $729 million pre-tax gain on the sale of Redecard shares.  Excluding the gain, international consumer revenues increased 21%, reflecting deposit and loan growth of 18% and 29%, respectively, and higher investment sales, up 26%.  U.S. consumer revenues were flat with the prior-year period as deposit and managed loan growth of 16% and 8%, respectively, was offset by lower securitization results in cards and the absence of gains on sale of securities in the prior-year period in consumer lending.

·Markets & banking revenues declined 24%, reflecting record transaction services revenues, up 38%, offset by a 44% decline in securities and banking.  Securities and banking revenues declined due to write-downs and losses related to dislocations in the mortgage-backed securities and credit markets, including:

·Write-downs of $1.35 billion pre-tax, net of underwriting fees, on funded and unfunded highly leveraged finance commitments.

·Losses of $1.56 billion pre-tax, net of hedges, on the value of sub-prime mortgage-backed securities warehoused for future collateralized debt obligation (“CDO”) securitizations, CDO positions, and leveraged loans warehoused for future collateralized loan obligation (“CLO”) securitizations.

·Losses of $636 million pre-tax in fixed income credit trading due to significant market volatility and the disruption of historical pricing relationships.

U.S. markets & banking revenues declined 87% and international revenues grew 7%.  International revenues included strong double-digit revenue growth in Asia, Latin America, and Mexico.

·Global wealth management revenues increased 41%, as U.S. revenues grew 14% and international revenues more than doubled, due to double-digit organic growth and increased ownership in Nikko Cordial.

·Alternative Investments revenues declined 63% as strong growth in client revenues was offset by lower revenues from proprietary investment activities.

·Excluding acquisitions and the gain on sale of Redecard shares, total organic revenues declined 3%.

·The net interest margin declined 3 basis points versus the second quarter 2007.

·Operating expenses increased 22%, driven by increased business volumes and acquisitions, which were partially offset by savings from structural expense initiatives announced in April 2007.

·The company opened 96 new retail bank or consumer finance branches during the quarter, including 47 internationally and 49 in the U.S.  Over the last twelve months, 820 retail bank and consumer finance branches have been opened or acquired.

·Excluding the impact of acquisitions, organic expense growth was 14%.

·Credit costs increased $2.98 billion, primarily driven by an increase in net credit losses of $780 million and a net charge of $2.24 billion to increase loan loss reserves.

·In U.S. consumer, higher credit costs reflected an increase in net credit losses of $278 million and a net charge of $1.30 billion to increase loan loss reserves.  The $1.30 billion net charge compares to a net reserve release of $197 million in the prior-year period.  The increase in credit costs primarily reflected a weakening of leading credit indicators, including increased delinquencies on mortgages and unsecured personal loans, as well as trends in the U.S. macro-economic environment, portfolio growth, and a change in estimate of loan losses inherent in the portfolio but not yet visible in delinquencies (“a change in estimate of loan losses”).

·In international consumer, higher credit costs reflected an increase in net credit losses of $460 million and a net charge of $717 million to increase loan loss reserves.  The $717 million net charge compares to a net charge of $101 million in the prior-year period.  The increase in credit costs primarily reflected the impact of recent acquisitions, portfolio growth, and a change in estimate of loan losses.

·Markets & banking credit costs increased $98 million, primarily reflecting higher net credit losses and a $123 million net charge to increase loan loss reserves for specific counterparties.  Credit costs reflected a slight weakening in portfolio credit quality.

·Taxes.  The effective tax rate on continuing operations was 21.1% versus 27.4% in the prior-year period.  The decline in the tax rate primarily reflects a higher proportion of earnings in foreign jurisdictions that have lower tax rates.

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APPENDIX

GLOBAL CONSUMER GROUP

	Third Quarter Revenues						%		Third Quarter Net Income						%
(In Millions of Dollars)	2007			2006			Change		2007			2006			Change
U.S. Cards	$	3,386		$	3,452		(2	)%	$	852		$	1,085		(21	)%
U.S. Retail Distribution	2,539			2,382			7		257			481			(47	)
U.S. Consumer Lending	1,548			1,481			5		(227		)	521			NM
U.S. Commercial Business	359			489			(27	)	122			151			(19	)
Total U.S. Consumer	$	7,832		$	7,804		—		$	1,004		$	2,238		(55	)%
International Cards	$	2,852		$	1,519		88	%	$	647		$	287		NM
International Consumer Finance	782			998			(22	)	(320		)	50			NM
International Retail Banking	3,225			2,550			26		552			701			(21	)
Total International Consumer	$	6,859		$	5,067		35	%	$	879		$	1,038		(15	)%
Other	(8		)	(37		)	78		(100		)	(81		)	(23	)
Global Consumer	$	14,683		$	12,834		14	%	$	1,783		$	3,195		(44	)%

NM Not meaningful.

U.S. Consumer

Revenues were flat with the prior-year period as higher retail distribution and consumer lending revenues were offset by declines in cards and commercial business.  Average deposits grew 16%, and average managed loans were up 8%.  Expenses increased 8% primarily due to acquisitions and lower marketing costs in the prior-year period.  Credit costs increased substantially, primarily due to a weakening of leading credit indicators, including increased delinquencies on mortgages and unsecured personal loans, as well as trends in the U.S. macro-economic environment, portfolio growth, and a change in estimate of loan losses.  Higher credit costs and expenses drove a decline in net income.

·      U.S. Cards

·Revenues declined 2% primarily due to lower securitization results.  Lower securitization revenues primarily reflected a decrease in gains on sale of receivables, as well as the net impact of funding costs and higher expected credit losses in the securitization trusts.  Net interest revenues declined 15% as increased receivable securitizations and lower promotional balances led to a decline in loans held on balance sheet.   The managed net interest margin improved 27 basis points to 10.55% primarily due to growth in non-promotional balances.

·Average managed loans were approximately flat as a 6% increase in purchase sales, driven by growth in travel, business, and partner portfolios, was offset by lower promotional balances.  Compared to the second quarter 2007, average managed loans increased 1%.

·Expenses grew 4% primarily driven by increased collection and servicing expenses, and lower marketing costs in the prior-year period.

·Higher credit costs were driven by a $134 million pre-tax charge to increase loan loss reserves, reflecting a weakening of leading credit indicators in the portfolio and trends in the macro-economic environment.  The increase in loan loss reserves compares to a $122 million release in the prior-year period.  The managed net credit loss ratio increased 15 basis points to 4.41%, primarily reflecting unusually low bankruptcy filings in the prior-year period.

·Net income declined 21%, reflecting lower securitization revenues, increased expenses and increased credit costs.

·U.S. Retail Distribution

·Revenues grew 7%, driven by higher average loans and deposits, up 19% and 14%, respectively.  Volume growth was partially offset by lower net interest margins, reflecting a shift in customer deposits to higher cost Direct Bank and time deposit balances.  Checking accounts increased 8%.

·Expenses increased 9% due to investment in new branches and higher customer activity.  During the quarter, 35 new consumer finance branches and 14 new Citibank branches were opened.

·Credit costs increased substantially, driven by higher net credit losses and a $299 million pre-tax charge to increase loan loss reserves.  Higher credit costs reflected a weakening of leading credit indicators, including higher delinquencies in unsecured personal loans, portfolio growth, and a change in

3

estimate of loan losses. The net credit loss ratio increased 39 basis points to 2.87%, partially reflecting unusually low bankruptcy filings in the prior-year period.

·Net income declined 47%, primarily due to higher expenses and credit costs.

·U.S. Consumer Lending

·Revenues increased 5%, driven by growth in net interest revenues and net servicing revenues, and the acquisition of ABN AMRO Mortgage Group in March 2007.  Net interest revenues grew 16%, reflecting growth in average loans, up 12%.  Non-interest revenues declined due to the absence of gains on sales of mortgage-backed securities recorded in the prior-year period.

·Expenses grew 37%, driven by the integration of the ABN AMRO business, increased business volumes, and higher staffing costs related to collections.

·Credit costs increased substantially, driven by higher net credit losses and an $854 million pre-tax charge to increase loan loss reserves.  Higher credit costs were primarily driven by a weakening of leading credit indicators, including higher delinquencies in first and second mortgages, as well as trends in the macro-economic environment and a change in estimate of loan losses.

·Net income declined significantly reflecting higher expenses and credit costs.

·U.S. Commercial Business

·Revenues declined as increased loan and deposit balances, up 9% and 28%, respectively, were offset by lower net interest margins, an increase in the mix of tax-advantaged revenues, and business divestitures.

·Net income declined as lower revenues and higher credit costs offset increased tax benefits.

International Consumer

Revenues increased 35%, driven by organic growth, the impact of recent acquisitions, and a gain on the sale of Redecard shares, partially offset by a significant decline in Japan consumer finance.  Excluding the gain, revenues were up 21%.  Average deposits and loans were up 18% and 29%, respectively, and investment sales more than doubled. Expenses increased 31% primarily due to the integration of acquisitions and higher business volumes.  Credit costs increased substantially, primarily due to the impact of recent acquisitions, portfolio growth, and a change in estimate of loan losses.  Net income declined primarily due to increased losses in Japan consumer finance, higher credit costs, and lower APB 23 tax benefits.

·International Cards

·Revenues grew 88%, primarily driven by higher purchase sales and average loans, up 37% and 52%, respectively, improved net interest margins, and a $729 million pre-tax gain on the sale of Redecard shares.  Excluding the gain, revenues increased 40%.  Loan balances grew at a double-digit pace in Mexico, EMEA, Asia, and Latin America.  Results include the integration of recent acquisitions.

·Credit costs increased substantially, driven by higher net credit losses and a $334 million pre-tax charge to increase loan loss reserves.  Higher credit costs were primarily due to acquisitions and organic portfolio growth, an increase in past due accounts in Mexico cards, and a change in estimate of loan losses.  The net credit loss ratio increased 61 basis points to 5.62%.

·Net income increased as higher revenues and the gain on the sale of Redecard shares offset significantly higher credit costs.  Excluding the gain on the sale of Redecard shares, net income declined 38%.

·International Consumer Finance

·In Japan, net income declined significantly due to charges to increase reserves for customer refunds and credit losses, higher expenses due to write-downs of $152 million pre-tax on customer intangibles and fixed assets, and a decline in revenues primarily due to lower receivable balances.  Financial results reflect recent adverse changes in the operating environment and the impact of consumer lending laws passed in the fourth quarter 2006.

·Outside of Japan, revenues increased 22%, driven by average loan growth of 20% and increased net interest margins.  Net income declined as revenue growth was offset by an increase in credit costs due to portfolio growth and seasoning, and a $90 million pre-tax charge to increase loan loss reserves primarily due to a change in estimate of loan losses.  The net credit loss ratio increased 48 basis points to 3.58%.

4

·International Retail Banking

·Revenues increased 26%, driven by increased deposits and loans, up 18% and 26%, respectively, and higher investment sales, up 26%.  Loan balances grew at a double-digit pace in EMEA, Asia, Latin America, and Mexico.  Results include the integration of recent acquisitions.

·Expenses grew 26%, reflecting increased business volumes and acquisitions.  During the quarter, 41 new branches were opened.

·Credit costs increased due to the absence of portfolio sales and loan loss reserve releases recorded in the prior-year period, and a $131 million pre-tax charge to increase loan loss reserves in the current period.  The charge to increase loan loss reserves primarily reflects a change in estimate of loan losses.

·Net income declined 21%, reflecting higher credit costs, and lower APB 23 tax benefits in Mexico.

MARKETS & BANKING

	Third Quarter Revenues				%		Third Quarter Net Income						%
(In Millions of Dollars)	2007		2006		Change		2007			2006			Change
Securities and Banking	$	2,540	$	4,567	(44	)%	$	(124	)	$	1,344		NM
Transaction Services	2,063		1,500		38		590			385			53
Other	—		—		—		(20		)	(8		)	NM
Markets & Banking	$	4,603	$	6,067	(24	)%	$	446		$	1,721		(74	)%
International Results	$	4,342	$	4,060	7	%	$	1,000		$	1,181		(15	)%

NM Not meaningful.

·Securities and Banking

·Fixed income markets revenues declined $1.64 billion to $671 million, driven primarily by:

·Losses of $1.56 billion, net of hedges, on sub-prime mortgages warehoused for future CDO securitizations, CDO positions, and leveraged loans warehoused for future CLO securitizations.

·Losses of $636 million in credit trading due to significant market volatility and disruption of historical pricing relationships.

·These losses were partially offset by strong double-digit revenue growth in interest rate and currency trading, and municipals.

·Equity markets revenues grew 19% to $1.03 billion, driven by double-digit growth in cash trading and derivatives, and a doubling of equity finance revenues.

·Lending revenues declined 14% to $412 million, primarily driven by write-downs of $451 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments, which were partially offset by hedging gains related to the corporate loan portfolio.

·Net investment banking revenues were $541 million, down 50% due to write-downs of $901 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments.  Excluding the write-downs, net revenues were $1.44 billion, up 32%.

·Equity underwriting revenues nearly doubled to $389 million, partially driven by an increase in market share.  Year-to-date, Citi ranks #2 in global equity underwriting.

·Record advisory and other fees increased 29% to $459 million.  Year-to-date, Citi ranks #3 in global announced and completed M&A.

·Growth in equity underwriting and advisory revenues was offset by losses in debt underwriting of $193 million, resulting from write-downs of $901 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments.

5

·Operating expenses increased 4%, reflecting a decline in incentive compensation costs offset by higher other operating and administrative expenses.   Other operating and administrative expenses grew primarily due to acquisitions, increased legal expenses, and higher business development costs.

·Credit costs increased driven by higher net credit losses and a $123 million pre-tax charge to increase loan loss reserves for specific counterparties.  Credit costs reflect a slight weakening of credit quality in the portfolio.

·Results also reflect a significant decline in the effective tax rate, primarily due to a higher proportion of earnings in foreign jurisdictions that have lower tax rates.

·Transaction Services

·Revenues increased 38% to a record $2.06 billion, driven by higher customer volumes, stable net interest margins, and the acquisition of The Bisys Group, which closed in August 2007.

·Strong double-digit revenue and net income growth was generated in EMEA, Asia, Latin America, Japan, and the U.S.

·Liability balances grew 34% and assets under custody were up 30%.

·Operating expenses increased 28%, primarily driven by increased business volumes.

·Net income increased 53% to a record $590 million.

GLOBAL WEALTH MANAGEMENT

	Third Quarter Revenues				%		Third Quarter Net Income				%
(In Millions of Dollars)	2007		2006		Change		2007		2006		Change
Smith Barney	$	2,892	$	1,994	45	%	$	379	$	294	29	%
Private Bank	617		492		25		110		105		5
Global Wealth Management	$	3,509	$	2,486	41	%	$	489	$	399	23	%
International Results	$	1,055	$	333	NM		$	156	$	57	NM

NM Not meaningful.

·Smith Barney

·Record revenues were driven by a 24% increase in fee-based and net interest revenues, reflecting a continued shift toward offering fee-based advisory products and services, and improved net interest margins.  Record revenue was also driven by higher transactional revenues, up 86%, due to increased ownership of Nikko Cordial in Japan and organic growth in customer trading volumes.

·Assets under fee-based management increased 41% to $454 billion, primarily driven by acquisitions, positive market action, and net client asset flows.

·Expenses grew 40%, primarily due to increased customer activity and the impact of acquisitions.

·Net income increased 29%, reflecting increased business volumes and the impact of acquisitions, offset by the absence of a $31 million tax benefit recorded in the prior-year period.

·Private Bank

·Revenue growth was driven by a 42% increase in international revenues, reflecting strong growth in capital markets products in Asia and EMEA.  U.S. revenues increased 2% as increased business volumes were offset by net interest margin compression.

·Client business volumes increased 28%, including higher client assets under fee-based management, up 17%, and average loans, up 29%.

·Expense growth of 29% primarily reflected higher compensation costs, driven by increased client activity and the net addition of 60 bankers since the third quarter of 2006.

·Credit costs increased due to a $55 million pre-tax charge to increase loan loss reserves, primarily related to new loan volumes.

·Net income increased 5% as revenue growth was offset by higher expenses and credit costs.

6

ALTERNATIVE INVESTMENTS

	Third Quarter Revenues				%		Third Quarter Net Income					%
(In Millions of Dollars)	2007		2006		Change		2007			2006		Change
Alternative Investments	$	125	$	334	(63	)%	$	(67	)	$	117	NM

·Alternative Investments

·Revenue and net income declined as strong growth in client revenues, up 75%, was offset by significantly lower proprietary investment revenues.  Proprietary investment revenues declined primarily due to a lower market value on Legg Mason shares, lower results from hedge fund activities, and the absence of a gain on sale of MetLife shares in the prior-year period.  Client capital under management increased 50%.  Client revenues and capital reflect organic growth and the acquisition of Old Lane Partners, L.P.

CORPORATE/OTHER

Corporate/Other income declined, primarily reflecting higher Nikko related charges and the absence of a prior-year benefit related to retirement benefit plans, which were partially offset by improved treasury results.

INTERNATIONAL OPERATIONS (1)

	Third Quarter Revenues				%		Third Quarter Net Income					%
(In Millions of Dollars)	2007		2006		Change		2007			2006		Change
Global Consumer	$	1,404	$	1,238	13	%	$	244		$	395	(38	)%
Markets & Banking	247		197		25		125			95		32
Global Wealth Management	38		32		19		10			9		11
Mexico	$	1,689	$	1,467	15	%	$	379		$	499	(24	)%
Global Consumer	$	1,738	$	1,353	28	%	$	58		$	213	(73	)%
Markets & Banking	1,444		2,166		(33	)	3			489		(99	)
Global Wealth Management	139		83		67		4			7		(43	)
Europe, Middle East and Africa (EMEA)	$	3,321	$	3,602	(8	)%	$	65		$	709	(91	)%
Global Consumer	$	649	$	782	(17	)%	$	(224	)	$	79	NM
Markets & Banking	133		177		(25	)	(96		)	38		NM
Global Wealth Management	547		—		NM		60			—		NM
Japan	$	1,329	$	959	39	%	$	(260	)	$	117	NM
Global Consumer	$	1,520	$	1,209	26	%	$	334		$	328	2	%
Markets & Banking	1,822		1,080		69		727			391		86
Global Wealth Management	277		171		62		79			38		NM
Asia (excluding Japan)	$	3,619	$	2,460	47	%	$	1,140		$	757	51	%
Global Consumer	$	1,548	$	485	NM		$	467		$	23	NM
Markets & Banking	696		440		58		241			168		43
Global Wealth Management	54		47		15		3			3		—
Latin America	$	2,298	$	972	NM		$	711		$	194	NM
Total International	$	12,256	$	9,460	30	%	$	2,035		$	2,276	(11	)%

(1) International results for the quarter are fully reflected in the product disclosures.

NM  Not meaningful.

7

·Mexico

·Consumer revenue growth was driven by an increase in average loans, up 19% and 18%, respectively, and higher card purchase sales, up 17%.  Net income declined as revenue growth was offset by higher credit costs and higher APB 23 tax benefits in the prior-year period.  Credit costs increased, primarily due to portfolio growth, increased past due accounts in cards, a change in estimate of loan losses, and the absence of a loan loss reserve release in the prior-year period.  During the past 12 months, 172 new retail bank and consumer finance branches were opened.

·Markets & banking revenues and net income increased driven by double-digit growth in fixed income underwriting, lending and advisory, which was partially offset by lower foreign exchange revenues.  Net income growth also reflected single-digit expense growth and lower credit costs.

·Europe, Middle East and Africa

·Consumer revenues increased 28%, driven by growth in customer deposits and loans, both up 47%, and higher investment product sales, up 53%.   Net income declined, primarily due to higher credit costs, driven by portfolio growth, a change in estimate of loan losses, and the absence of prior-year asset sales.  Results reflect the impact of recent acquisitions.

·Markets & banking revenues and net income declined as lower results in securities and banking offset record revenues and net income in transactions services.  In securities and banking, revenues declined 53%, driven by $1.16 billion of pre-tax write-downs and losses on highly leveraged finance commitments, sub-prime mortgages warehoused for future CDO securitizations, CDO positions, and in fixed income credit trading.  These write-downs and losses were partially offset by growth in interest rate and currency trading, equity underwriting, and lending.  Results also include a $123 million pre-tax charge to increase loan loss reserves for specific counterparties.  Transactions services revenues and net income increased at a strong double-digit pace, driven by increased customer volumes.

·Japan

·Consumer revenues and net income were driven by significantly lower consumer finance results.  Recent adverse changes in the operating environment and the impact of consumer lending laws passed in the fourth quarter 2006 led to lower receivable balances, charges to increase reserves for customer refunds, and higher credit losses.  Results also include a $152 million pre-tax write-down on customer intangibles and other fixed assets.

·Markets & banking revenues and net income declined as strong double-digit growth in transaction services was offset by a decline in revenues in fixed income and equity businesses, and lower results from principal investments.

·Wealth management results reflected the impact of increased ownership of Nikko Cordial.

·Asia

·Consumer revenues increased 26%, driven by growth in deposits and loans, up 10% and 20%, respectively, and a doubling of investment product sales to a record level.  Volume growth was partially offset by net interest margin compression.  Net income was approximately even with the prior-year period as revenue growth was offset by higher credit costs.  Higher credit costs reflected portfolio growth, a change in estimate of loan losses, and the absence of a prior-year release of loan loss reserves.

·Markets & banking revenues and net income were records, up 69% and 86%, respectively.  Fixed income markets revenues nearly doubled, driven by strength in interest rate and currency products, and distressed debt. Equity markets revenues more than doubled, driven by strong results in cash trading and derivatives.   Transaction services revenues and net income grew at a strong double-digit pace, reflecting increased business volumes.

·Wealth management revenue and income growth was driven primarily by continued strong volumes in capital markets products.

8

·Latin America

·Consumer revenue and net income growth was driven by increased average deposits, up 74%, a doubling of loans, and higher investment AUMs, up 28%.  Revenues included a $729 million pre-tax gain on the sale of Redecard shares and the impact of recent acquisitions.  Excluding the gain on sale of Redecard shares, revenues grew 69% and net income declined.   Net income declined as revenue growth was offset by higher expenses, reflecting increased customer volumes and the impact of acquisitions, and higher credit costs.  Higher credit costs were driven by portfolio growth, acquisitions, and a change in estimate of loan losses.  Over the last 12 months, 268 new retail bank and consumer finance branches were opened or acquired.

·Markets & banking revenues and net income were driven by strong double-digit revenue increases in fixed income and equity markets and lending, and the acquisition of Grupo Cuscatlan.  Results also reflected record revenues and net income in transaction services, driven by higher customer volumes.

A reconciliation of non-GAAP financial information contained in this press release is set forth on page 11.

Charles Prince, Chairman and Chief Executive Officer, and Gary Crittenden, Chief Financial Officer, will host a conference call today at 8:30 AM (EDT).  A live webcast of the presentation, as well as financial results and presentation materials, will be available at http://www.citigroup.com/citigroup/fin.  A replay of the webcast will be available at http://www.citigroup.com/citigroup/fin/pres.htm.

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.

Additional financial, statistical, and business-related information, as well as business and segment trends, is included in a Financial Supplement.  Both the earnings release and the Financial Supplement are available on Citi’s website 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.

Contacts:

Press:	Christina Pretto	(212) 559-9560	Equity Investors:	Arthur Tildesley	(212) 559-2718
	Shannon Bell	(212) 793-6206	Fixed Income Investors:	Maurice Raichelson	(212) 559-5091
	Michael Hanretta	(212) 559-9466

9

SUMMARY OF PRESS RELEASE DISCLOSED ITEMS - NET INCOME IMPACT ($MM)

	3Q’06			3Q’07
Cards	$	39	(1)	$	—
Retail Distribution	4		(1)	—
Consumer Lending	10		(1)	—
Commercial Business Group	1		(1)	—
U.S. Consumer	54			—
Cards	5		(1)	469		(3)
Consumer Finance	(102		)(1), (2)	(98		)(4)
Retail Banking	18		(1)	—
International Consumer	(79		)	371
Other Consumer	1		(1)	—
Global Consumer	(24		)	371
Securities and Banking	97		(1)	—
Transaction Services	19		(1)	—
Other	—			—
Markets & Banking	116			—
Smith Barney	31		(1)	—
Private Bank	3		(1)	—
Global Wealth Management	34			—
Alternative Investments	—			—
Corporate / Other	8		(1)	—
Discontinued Operations	17		(1)	—

(1)NYS tax release of $254 comprised of $39 in U.S. Cards, $4 in U.S. Retail Distribution, $10 in U.S. Consumer Lending, $1 in Commercial Business Group, $5 in International Cards, $1 in International Consumer Finance, $18 in International Retail Banking, $1 in Consumer Other, $97 in Securities and Banking, $19 in Transaction Services, $31 in Smith Barney, $3 in Private Bank, $8 in Corporate/Other, and $17 in Discontinued Operations.

(2)Higher credit costs of $(159) pre-tax ($(103) after-tax) in Japan Consumer Finance.  Included due to legislative and other actions affecting the consumer finance industry in Japan.  Business-as-usual credit losses in the portfolios are not included.

(3)Gain on sale of Redecard shares of $729 pre-tax ($469 after-tax) in International Cards. Sale of Redecard shares was previously announced on July 16, 2007.  

(4)Write-down of intangibles and fixed assets of $(152) pre-tax ($(98) after-tax) in Japan Consumer Finance.

10

Non-GAAP Financial Measures

The following are measures considered “non-GAAP financial measures” under SEC guidelines:

1)Citi revenues excluding the impact of acquisitions and the gain on sale of Redecard shares.

2)Citi operating expenses excluding the impact of acquisitions.

3)International Consumer revenues excluding the gain on sale of Redecard shares.

4)International Cards revenues excluding the gain on sale of Redecard shares.

5)International Cards net income excluding the net gain on sale of Redecard shares.

6)International Consumer Finance revenues excluding Japan Consumer Finance.

7)Net Investment Banking revenues excluding write-downs on highly leveraged finance commitments.

8)Latin America Consumer revenues excluding the gain on sale of Redecard shares.

The Company believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of those results in prior periods as well as demonstrating the effects of unusual gains and charges in the quarter.  The Company believes that a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance.  The Company believes that investors may find it useful to see these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the Company’s underlying performance.

Reconciliation of the GAAP financial measures to the aforementioned non-GAAP measures follows:

	3Q			3Q			3Q’07 vs. 3Q’06
($ in millions)	2007			2006			% Change
GAAP Citi Revenues	$	22,663		$	21,422		6	%
Excluding the impact of acquisitions	(1,099		)	—
Excluding the gain on sale of Redecard shares	(729		)	—
Non-GAAP Citi Revenues as Adjusted	$	20,835		$	21,422		(3	)%
GAAP Citi Operating Expenses	$	14,561		$	11,936		22	%
Excluding the impact of acquisitions	(952		)	—
Non-GAAP Citi Operating Expenses as Adjusted	$	13,609		$	11,936		14	%
GAAP International Consumer Revenues	$	6,859		$	5,067		35	%
Excluding the gain on sale of Redecard shares	(729		)	—
Non-GAAP International Consumer Revenues as Adjusted	$	6,130		$	5,067		21	%
GAAP International Cards Revenues	$	2,852		$	1,519		88	%
Excluding the gain on sale of Redecard shares	(729		)	—
Non-GAAP International Cards Revenues as Adjusted	$	2,123		$	1,519		40	%
GAAP International Cards Net Income	$	647		$	287		NM
Excluding the net gain on sale of Redecard shares	(469		)	—
Non-GAAP International Cards Net Income as Adjusted	$	178		$	287		(38	)%
GAAP International Consumer Finance Revenues	$	782		$	998		(22	)%
Excluding Japan Consumer Finance	(281		)	(587		)
Non-GAAP International Consumer Finance Revenues as Adjusted	$	501		$	411		22	%
GAAP Net Investment Banking Revenues	$	541		$	1,089		(50	)%
Excluding write-downs on highly leveraged finance commitments	901			—
Non-GAAP Net Investment Banking Revenues as Adjusted	$	1,442		$	1,089		32	%
GAAP Latin America Consumer Revenues	$	1,548		$	485		NM
Excluding the gain on sale of Redecard shares	(729		)	—
Non-GAAP Latin America Consumer Revenues as Adjusted	$	819		$	485		69	%

NM Not meaningful

11

EX-99.2

Exhibit 99.2

CITIGROUP - QUARTERLY FINANCIAL DATA SUPPLEMENT 3Q07

	Page Number
Citigroup Consolidated
Financial Summary	1
Segment Income:
Product View	2
Regional View	3
Segment Net Revenues:
Product View	4
Regional View	5
Consolidated Statement of Income	6
Consolidated Balance Sheet	7
Segment Detail
Global Consumer:	8-9
U.S.
U.S. Cards	10-11
U.S. Retail Distribution	12-13
U.S. Consumer Lending	14-15
U.S. Commercial Business	16
International
International Cards	17-18
International Consumer Finance	19-20
International Retail Banking	21-22
Markets & Banking:	23
Income Statement	24
Revenue Details	25
Securities and Banking	26
Transaction Services	27
Global Wealth Management:	28
Smith Barney	29
Private Bank	30
Alternative Investments	31
Citigroup Supplemental Detail	32
Return on Capital	33
Average Balances and Interest Rates	34
Consumer Loan Delinquency Amounts, Net Credit Losses and Ratios
Allowance for Credit Losses:
Total Citigroup	35
Consumer Loans	36
Corporate Loans	37
Components of Provision for Loan Losses	38
Non-Performing Assets	39

CITIGROUP — FINANCIAL SUMMARY
(In millions of dollars, except per share amounts)

Citi, the leading global financial services company, has more than 200 million
customer accounts and does business in more than 100 countries, providing consumers, corporations,
governments and institutions a complete range of financial products and services.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Income from Continuing Operations	$	5,555		$	5,262		$	5,303		$	5,129		$	5,012		$	6,226		$	2,378		(55)%	$	16,120		$	13,616		(16)%
Discontinued Operations, After-tax	84			3			202			—			—			—			—			(100)%	289			—			(100)%
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		$	2,378		(57)%	$	16,409		$	13,616		(17)%
Diluted Earnings Per Share:
Income from Continuing Operations	$	1.11		$	1.05		$	1.06		$	1.03		$	1.01		$	1.24		$	0.47		(56)%	$	3.22		$	2.72		(16)%
Net Income	$	1.12		$	1.05		$	1.10		$	1.03		$	1.01		$	1.24		$	0.47		(57)%	$	3.28		$	2.72		(17)%
Adjusted weighted average common shares applicable to Diluted EPS (in millions)	5,007.9			4,990.0			4,978.6			4,967.7			4,967.9			4,992.9			5,010.9				4,992.2			4,990.6
Preferred Dividends - Diluted	$	16		$	16		$	16		$	16		$	16		$	14		$	6			$	48		$	36
Common Shares Outstanding, at period end (in millions)	4,971.2			4,943.9			4,913.7			4,912.0			4,946.4			4,974.6			4,981.1
Tier 1 Capital Ratio	8.60		%	8.51		%	8.64		%	8.59		%	8.26		%	7.91		%	7.4		%*
Total Capital Ratio	11.80		%	11.68		%	11.88		%	11.65		%	11.48		%	11.23		%	10.7		%*
Leverage Ratio	5.22		%	5.19		%	5.24		%	5.16		%	4.84		%	4.37		%	4.1		%*
Total Assets, at period end (in billions)	$	1,586.2		$	1,626.6		$	1,746.2		$	1,884.3		$	2,021.0		$	2,220.9		$	2,354.7	*
Stockholders’ Equity, at period end (in billions)	$	114.4		$	115.4		$	117.9		$	119.8		$	122.1		$	127.8		$	127.4	*
Equity and Trust Securities, at period end (in billions)	$	120.6		$	122.0		$	125.9		$	129.4		$	131.5		$	137.8		$	139.0	*
Book Value Per Share, at period end	$	22.82		$	23.15		$	23.78		$	24.18		$	24.48		$	25.56		$	25.54	*
Return on Common Equity (Net Income)	20.3		%	18.6		%	18.9		%	17.2		%	17.1		%	20.1		%	7.4		%		19.3		%	14.8		%
Return on Risk Capital (Income from Continuing Operations)	41		%	38		%	37		%	35		%	31		%	35		%	12		%		39		%	25		%

* Preliminary

1

CITIGROUP —  NET INCOME
PRODUCT VIEW
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
U.S. Cards	$	926		$	878		$	1,085		$	1,001		$	897		$	726		$	852		(21)%	$	2,889		$	2,475		(14)%
U.S. Retail Distribution	515			568			481			463			388			453			257			(47)%	1,564			1,098			(30)%
U.S. Consumer Lending	437			470			521			484			359			441			(227		)	NM	1,428			573			(60)%
U.S. Commercial Business	126			138			151			146			121			151			122			(19)%	415			394			(5)%
Total U.S. Consumer (1)	2,004			2,054			2,238			2,094			1,765			1,771			1,004			(55)%	6,296			4,540			(28)%
International Cards	291			328			287			231			388			351			647			NM	906			1,386			53%
International Consumer Finance	168			173			50			(351		)	25			(6		)	(320		)	NM	391			(301		)	NM
International Retail Banking	677			714			701			748			540			671			552			(21)%	2,092			1,763			(16)%
Total International Consumer	1,136			1,215			1,038			628			953			1,016			879			(15)%	3,389			2,848			(16)%
Other	(67		)	(92		)	(81		)	(111		)	(85		)	(91		)	(100		)	(23)%	(240		)	(276		)	(15)%
Total Global Consumer	3,073			3,177			3,195			2,611			2,633			2,696			1,783			(44)%	9,445			7,112			(25)%
Markets & Banking:
Securities and Banking	1,618			1,412			1,344			1,389			2,173			2,145			(124		)	NM	4,374			4,194			(4)%
Transaction Services	323			340			385			378			447			514			590			53%	1,048			1,551			48%
Other	(12		)	(29		)	(8		)	(13		)	1			173			(20		)	NM	(49		)	154			NM
Total Markets & Banking	1,929			1,723			1,721			1,754			2,621			2,832			446			(74)%	5,373			5,899			10%
Global Wealth Management:
Smith Barney	168			238			294			305			324			321			379			29%	700			1,024			46%
Private Bank	119			109			105			106			124			193			110			5%	333			427			28%
Total Global Wealth Management	287			347			399			411			448			514			489			23%	1,033			1,451			40%
Alternative Investments	353			257			117			549			222			456			(67		)	NM	727			611			(16)%
Corporate / Other (2)	(87		)	(242		)	(129		)	(196		)	(912		)	(272		)	(273		)	NM	(458		)	(1,457		)	NM
Income From Continuing Operations	5,555			5,262			5,303			5,129			5,012			6,226			2,378			(55)%	16,120			13,616			(16)%
Discontinued Operations (3)	84			3			202			—			—			—			—				289			—
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		$	2,378		(57)%	$	16,409		$	13,616		(17)%

(1)	U.S. disclosure includes Canada and Puerto Rico.
(2)	The 2007 first quarter includes a $1,377 million ($871 million after-tax) Restructuring charge related to the Company’s Structural Expense Initiatives project announced on April 11, 2007.
(3)	Discontinued Operations relates to residual items from the Company’s sale of Citigroup’s Travelers Life & Annuity which closed during the 2005 third quarter and the Company’s sale of substantially all of its Asset Management business which closed during the 2005 fourth quarter.
NM Not meaningful
Reclassified to conform to the current period’s presentation.

2

CITIGROUP —  NET INCOME
REGIONAL VIEW
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S. (1)
Global Consumer	$	1,937		$	1,962		$	2,157		$	1,983		$	1,680		$	1,680		$	904		(58)%	$	6,056		$	4,264		(30)%
Markets & Banking	515			747			540			407			999			984			(554		)	NM	1,802			1,429			(21)%
Global Wealth Management	228			290			342			350			361			335			333			(3)%	860			1,029			20%
Total U.S.	2,680			2,999			3,039			2,740			3,040			2,999			683			(78)%	8,718			6,722			(23)%
Mexico
Global Consumer	358			375			395			477			372			360			244			(38)%	1,128			976			(13)%
Markets & Banking	78			88			95			85			114			95			125			32%	261			334			28%
Global Wealth Management	8			10			9			9			12			15			10			11%	27			37			37%
Total Mexico	444			473			499			571			498			470			379			(24)%	1,416			1,347			(5)%
Europe, Middle East and Africa (EMEA)
Global Consumer	185			215			213			112			83			148			58			(73)%	613			289			(53)%
Markets & Banking	635			342			489			545			694			803			3			(99)%	1,466			1,500			2%
Global Wealth Management	3			5			7			8			7			46			4			(43)%	15			57			NM
Total EMEA	823			562			709			665			784			997			65			(91)%	2,094			1,846			(12)%
Japan
Global Consumer	188			178			79			(326		)	45			32			(224		)	NM	445			(147		)	NM
Markets & Banking	85			72			38			77			35			124			(96		)	NM	195			63			(68)%
Global Wealth Management	—			—			—			—			—			30			60			—	—			90			—
Total Japan	273			250			117			(249		)	80			186			(260		)	NM	640			6			(99)%
Asia (excluding Japan)
Global Consumer	347			359			328			332			383			426			334			2%	1,034			1,143			11%
Markets & Banking	414			336			391			510			561			567			727			86%	1,141			1,855			63%
Global Wealth Management	45			40			38			40			65			74			79			NM	123			218			77%
Total Asia	806			735			757			882			1,009			1,067			1,140			51%	2,298			3,216			40%
Latin America
Global Consumer	58			88			23			33			70			50			467			NM	169			587			NM
Markets & Banking	202			138			168			130			218			259			241			43%	508			718			41%
Global Wealth Management	3			2			3			4			3			14			3			0%	8			20			NM
Total Latin America	263			228			194			167			291			323			711			NM	685			1,325			93%
Alternative Investments	353			257			117			549			222			456			(67		)	NM	727			611			(16)%
Corporate / Other	(87		)	(242		)	(129		)	(196		)	(912		)	(272		)	(273		)	NM	(458		)	(1,457		)	NM
Income From Continuing Operations	5,555			5,262			5,303			5,129			5,012			6,226			2,378			(55)%	16,120			13,616			(16)%
Discontinued Operations	84			3			202			—			—			—			—				289			—
Net Income	$	5,639		$	5,265		$	5,505		$	5,129		$	5,012		$	6,226		$	2,378		(57)%	$	16,409		$	13,616		(17)%
Total International	$	2,609		$	2,248		$	2,276		$	2,036		$	2,662		$	3,043		$	2,035		(11)%	$	7,133		$	7,740		9%

(1)	Excludes Alternative Investments and Corporate / Other which are predominantly related to the U.S.  The U.S. regional disclosure includes Canada and Puerto Rico.  Global Consumer for the U.S. includes Other Consumer.
NM	Not meaningful
Reclassified to conform to the current period’s presentation.

3

CITIGROUP —  NET REVENUES
PRODUCT VIEW
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
U.S. Cards	$	3,234		$	3,251		$	3,452		$	3,571		$	3,294		$	3,181		$	3,386		(2)%	$	9,937		$	9,861		(1)%
U.S. Retail Distribution	2,296			2,499			2,382			2,407			2,426			2,545			2,539			7%	7,177			7,510			5%
U.S. Consumer Lending	1,260			1,307			1,481			1,471			1,551			1,606			1,548			5%	4,048			4,705			16%
U.S. Commercial Business	470			516			489			508			443			446			359			(27)%	1,475			1,248			(15)%
Total U.S. Consumer (1)	7,260			7,573			7,804			7,957			7,714			7,778			7,832			—	22,637			23,324			3%
International Cards	1,280			1,510			1,519			1,650			1,739			2,013			2,852			88%	4,309			6,604			53%
International Consumer Finance	962			1,009			998			349			890			843			782			(22)%	2,969			2,515			(15)%
International Retail Banking	2,467			2,555			2,550			2,946			2,759			3,030			3,225			26%	7,572			9,014			19%
Total International Consumer	4,709			5,074			5,067			4,945			5,388			5,886			6,859			35%	14,850			18,133			22%
Other	(14		)	(19		)	(37		)	(20		)	4			(2		)	(8		)	78%	(70		)	(6		)	91%
Total Global Consumer	11,955			12,628			12,834			12,882			13,106			13,662			14,683			14%	37,417			41,451			11%
Markets & Banking:
Securities and Banking	5,896			5,269			4,567			5,486			7,313			7,121			2,540			(44)%	15,732			16,974			8%
Transaction Services	1,382			1,495			1,500			1,594			1,645			1,840			2,063			38%	4,377			5,548			27%
Other	1			(3		)	—			—			(1		)	—			—			—	(2		)	(1		)	50%
Total Markets & Banking	7,279			6,761			6,067			7,080			8,957			8,961			4,603			(24)%	20,107			22,521			12%
Global Wealth Management:
Smith Barney	1,987			1,990			1,994			2,189			2,246			2,611			2,892			45%	5,971			7,749			30%
Private Bank	496			502			492			527			572			586			617			25%	1,490			1,775			19%
Total Global Wealth Management	2,483			2,492			2,486			2,716			2,818			3,197			3,509			41%	7,461			9,524			28%
Alternative Investments	675			584			334			1,308			562			1,032			125			(63)%	1,593			1,719			8%
Corporate / Other	(209		)	(283		)	(299		)	(158		)	16			(222		)	(257		)	14%	(791		)	(463		)	41%
Total Net Revenues	$	22,183		$	22,182		$	21,422		$	23,828		$	25,459		$	26,630		$	22,663		6%	$	65,787		$	74,752		14%

(1)	U.S. disclosure includes Canada and Puerto Rico.
NM  Not meaningful
Reclassified to conform to the current period’s presentation.

4

CITIGROUP —  NET REVENUES
REGIONAL VIEW
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007		2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S. (1)
Global Consumer	$	7,246		$	7,554		$	7,767		$	7,937		$	7,718	$	7,776		$	7,824		1%	$	22,567		$	23,318		3%
Markets & Banking	2,923			2,803			2,007			2,422			3,714		3,041			261			(87)%	7,733			7,016			(9)%
Global Wealth Management	2,154			2,149			2,153			2,337			2,385		2,439			2,454			14%	6,456			7,278			13%
Total U.S.	12,323			12,506			11,927			12,696			13,817		13,256			10,539			(12)%	36,756			37,612			2%
Mexico
Global Consumer	1,149			1,192			1,238			1,612			1,377		1,354			1,404			13%	3,579			4,135			16%
Markets & Banking	186			199			197			199			227		183			247			25%	582			657			13%
Global Wealth Management	31			33			32			33			36		41			38			19%	96			115			20%
Total Mexico	1,366			1,424			1,467			1,844			1,640		1,578			1,689			15%	4,257			4,907			15%
Europe, Middle East and Africa (EMEA)
Global Consumer	1,270			1,360			1,353			1,404			1,446		1,618			1,738			28%	3,983			4,802			21%
Markets & Banking	2,296			2,043			2,166			2,252			2,827		2,993			1,444			(33)%	6,505			7,264			12%
Global Wealth Management	75			83			83			90			108		137			139			67%	241			384			59%
Total EMEA	3,641			3,486			3,602			3,746			4,381		4,748			3,321			(8)%	10,729			12,450			16%
Japan
Global Consumer	775			807			782			91			615		680			649			(17)%	2,364			1,944			(18)%
Markets & Banking	296			269			177			310			212		453			133			(25)%	742			798			8%
Global Wealth Management	—			—			—			—			—		286			547			—	—			833			—
Total Japan	1,071			1,076			959			401			827		1,419			1,329			39%	3,106			3,575			15%
Asia (excluding Japan)
Global Consumer	1,189			1,244			1,209			1,291			1,359		1,464			1,520			26%	3,642			4,343			19%
Markets & Banking	1,132			1,062			1,080			1,440			1,404		1,635			1,822			69%	3,274			4,861			48%
Global Wealth Management	180			181			171			206			234		242			277			62%	532			753			42%
Total Asia	2,501			2,487			2,460			2,937			2,997		3,341			3,619			47%	7,448			9,957			34%
Latin America
Global Consumer	326			471			485			547			591		770			1,548			NM	1,282			2,909			NM
Markets & Banking	446			385			440			457			573		656			696			58%	1,271			1,925			51%
Global Wealth Management	43			46			47			50			55		52			54			15%	136			161			18%
Total Latin America	815			902			972			1,054			1,219		1,478			2,298			NM	2,689			4,995			86%
Alternative Investments	675			584			334			1,308			562		1,032			125			(63)%	1,593			1,719			8%
Corporate / Other	(209		)	(283		)	(299		)	(158		)	16		(222		)	(257		)	14%	(791		)	(463		)	41%
Total Net Revenues	$	22,183		$	22,182		$	21,422		$	23,828		$	25,459	$	26,630		$	22,663		6%	$	65,787		$	74,752		14%
Total International	$	9,394		$	9,375		$	9,460		$	9,982		$	11,064	$	12,564		$	12,256		30%	$	28,229		$	35,884		27%

(1)	Excludes Alternative Investments and Corporate / Other which are predominantly related to the U.S.  The U.S. regional disclosure includes Canada and Puerto Rico.  Global Consumer for the U.S. includes Other Consumer.
NM Not meaningful
Reclassified to conform to the current period’s presentation.

5

CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006		4Q 2006		1Q 2007		2Q 2007		3Q 2007		3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues
Interest revenue	$	21,873		$	23,572		$	24,729	$	26,257	$	28,132	$	30,598	$	32,961	33%	$	70,174		$	91,691	31%
Interest expense	12,107			13,717			14,901		16,218		17,562		19,172		20,804		40%	40,725			57,538		41%
Net interest revenue	9,766			9,855			9,828		10,039		10,570		11,426		12,157		24%	29,449			34,153		16%
Insurance premiums	770			800			819		813		838		846		893		9%	2,389			2,577		8%
Commissions and fees	5,140			5,261			3,920		4,923		5,602		6,632		4,053		3%	14,321			16,287		14%
Principal transactions	2,165			1,773			2,014		2,047		3,168		2,629		26		(99)%	5,952			5,823		(2)%
Administrative and other fiduciary fees	1,705			1,707			1,670		1,852		1,949		2,241		2,468		48%	5,082			6,658		31%
Realized gains (losses) from sales of investments	379			302			304		806		473		119		263		(13)%	985			855		(13)%
Other revenue	2,258			2,484			2,867		3,348		2,859		2,737		2,803		(2)%	7,609			8,399		10%
Total non-interest revenues	12,417			12,327			11,594		13,789		14,889		15,204		10,506		(9)%	36,338			40,599		12%
Total revenues, net of interest expense	22,183			22,182			21,422		23,828		25,459		26,630		22,663		6%	65,787			74,752		14%
Provisions for Credit Losses and for Benefits and Claims
Policyholder benefits and claims	227			231			274		235		261		197		236		(14)%	732			694		(5)%
Provision for loan losses	1,396			1,436			1,793		2,113		2,706		2,520		4,776		NM	4,625			10,002		NM
Provision for unfunded lending commitments	50			150			50		—		—		—		50		—	250			50		(80)%
Total provisions for credit losses and for benefits and claims	1,673			1,817			2,117		2,348		2,967		2,717		5,062		NM	5,607			10,746		92%
Operating Expenses
Compensation and benefits	8,263			7,374			6,718		7,922		8,699		8,922		7,730		15%	22,355			25,351		13%
Net occupancy expense	1,382			1,411			1,435		1,613		1,529		1,603		1,748		22%	4,228			4,880		15%
Technology / communication expense	886			934			948		994		979		1,143		1,166		23%	2,768			3,288		19%
Advertising and marketing expense	603			652			574		734		617		767		800		39%	1,829			2,184		19%
Restructuring-related items	—			—			—		—		1,377		63		35		—	—			1,475		—
Other operating	2,224			2,398			2,261		2,695		2,370		2,357		3,082		36%	6,883			7,809		13%
Total operating expenses	13,358			12,769			11,936		13,958		15,571		14,855		14,561		22%	38,063			44,987		18%
Income from Continuing Operations before Income
Taxes and Minority Interest	7,152			7,596			7,369		7,522		6,921		9,058		3,040		(59)%	22,117			19,019		(14)%
Provision for income taxes	1,537			2,303			2,020		2,241		1,862		2,709		642		(68)%	5,860			5,213		(11)%
Minority interest, net of income taxes	60			31			46		152		47		123		20		(57)%	137			190		39%
Income from Continuing Operations	5,555			5,262			5,303		5,129		5,012		6,226		2,378		(55)%	16,120			13,616		(16)%
Discontinued Operations (1)
Income from Discontinued Operations	1			—			26		—		—		—		—			27			—
Gain on Sale	21			—			198		—		—		—		—			219			—
Provision for income taxes and minority interest, net of taxes	(62		)	(3		)	22		—		—		—		—			(43		)	—
Income from Discontinued Operations, net	84			3			202		—		—		—		—			289			—
Net Income	$	5,639		$	5,265		$	5,505	$	5,129	$	5,012	$	6,226	$	2,378	(57)%	$	16,409		$	13,616	(17)%

(1)	Discontinued Operations relates to residual items from the Company’s sale of Citigroup’s Travelers Life & Annuity which closed during the 2005 third quarter and the Company’s sale of substantially all of its Asset Management business which closed during the 2005 fourth quarter.
Reclassified to conform to the current period’s presentation.

6

CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)

																						September 30, 2007
																						vs.
	March 31,			June 30,			September 30,			December 31,			March 31,			June 30,			September 30,			December 31, 2006
	2006			2006			2006			2006			2007			2007			2007 (1)			Inc (Decr)
Assets
Cash and due from banks (including segregated cash and other deposits)	$	21,411		$	24,311		$	22,543		$	26,514		$	24,421		$	30,635		$	38,226		44%
Deposits with banks	33,220			35,868			33,939			42,522			44,906			70,897			58,713			38%
Federal funds sold and securities borrowed or purchased under agreements to resell	239,552			234,390			262,627			282,817			303,925			348,129			383,217			35%
Brokerage receivables	42,569			46,162			40,970			44,445			51,976			61,144			69,062			55%
Trading account assets	328,135			327,890			351,149			393,925			460,065			538,316			581,444			48%
Investments	193,970			194,953			251,748			273,591			286,567			257,880			240,828			(12)%
Loans, net of unearned income
Consumer	462,068			480,772			488,673			512,921			519,105			551,223			570,891			11%
Corporate	143,239			156,313			166,709			166,271			174,239			191,701			203,078			22%
Loans, net of unearned income	605,307			637,085			655,382			679,192			693,344			742,924			773,969			14%
Allowance for loan losses	(9,505		)	(9,144		)	(8,979		)	(8,940		)	(9,510		)	(10,381		)	(12,728		)	(42)%
Total loans, net	595,802			627,941			646,403			670,252			683,834			732,543			761,241			14%
Goodwill	32,933			32,910			33,169			33,415			34,380			39,231			39,949			20%
Intangible assets	15,092			15,850			15,725			15,901			19,330			22,975			23,651			49%
Other assets	83,517			86,276			87,975			100,936			111,562			119,116			158,409			57%
Total assets	$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,966		$	2,220,866		$	2,354,740		25%
Liabilities
Non-interest-bearing deposits in U.S. offices	$	37,885		$	38,018		$	36,358		$	38,615		$	39,296		$	41,740		$	38,842		1%
Interest-bearing deposits in U.S. offices	176,032			177,385			183,467			195,002			198,840			196,481			211,147			8%
Non-interest-bearing deposits in offices outside the U.S.	34,323			32,981			32,721			35,149			36,328			39,132			43,052			22%
Interest-bearing deposits in offices outside the U.S.	379,118			397,421			416,732			443,275			464,057			494,408			519,809			17%
Total deposits	627,358			645,805			669,278			712,041			738,521			771,761			812,850			14%
Federal funds purchased and securities loaned or sold under agreements to repurchase	279,540			264,494			320,095			349,235			393,670			394,143			440,369			26%
Brokerage payables	70,214			74,970			97,229			85,119			88,722			96,528			94,830			11%
Trading account liabilities	144,888			142,983			138,876			145,887			173,902			217,992			215,577			48%
Short-term borrowings	58,130			72,581			70,501			100,833			111,179			167,139			194,304			93%
Long-term debt	227,165			239,557			260,089			288,494			310,768			340,077			364,526			26%
Other liabilities (2)	64,488			70,733			72,315			82,926			82,121			105,472			104,855			26%
Total liabilities	1,471,783			1,511,123			1,628,383			1,764,535			1,898,883			2,093,112			2,227,311			26%
Stockholders’ equity
Preferred Stock	1,000			1,000			1,000			1,000			1,000			600			200			(80)%
Common Stock	55			55			55			55			55			55			55			—
Additional paid-in capital	17,119			17,426			17,825			18,253			17,341			17,725			18,296			—
Retained earnings	120,703			123,497			126,544			129,267			131,395			134,932			134,611			4%
Treasury stock	(21,753		)	(23,199		)	(24,737		)	(25,092		)	(23,833		)	(22,588		)	(22,329		)	11%
Accumulated other comprehensive income (loss)	(2,706		)	(3,351		)	(2,822		)	(3,700		)	(3,875		)	(2,970		)	(3,404		)	8%
Total stockholders’ equity	114,418			115,428			117,865			119,783			122,083			127,754			$	127,429		6%
Total liabilities and stockholders’ equity	$	1,586,201		$	1,626,551		$	1,746,248		$	1,884,318		$	2,020,966		$	2,220,866		$	2,354,740		25%

(1)	Preliminary.
(2)	Includes allowance for credit losses for letters of credit and unfunded lending commitments of $900 million, $1,050 million, $1,100 million, and $1,100 million for the first, second, third, and fourth quarters of 2006, respectively, and $1,100 million for the first and second quarters of 2007 and $1,150 million for the third quarter of 2007, respectively.
Reclassified to conform to the current period’s presentation.

7

GLOBAL CONSUMER
Page 1
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007		2Q 2007		3Q 2007		3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Consumer:
Net Interest Revenue	$	7,224		$	7,481		$	7,523		$	7,073		$	7,644	$	8,189	$	8,285	10%	$	22,228		$	24,118	9%
Non-Interest Revenue	4,731			5,147			5,311			5,809			5,462		5,473		6,398		20%	15,189			17,333		14%
Total Revenues, Net of Interest Expense	11,955			12,628			12,834			12,882			13,106		13,662		14,683		14%	37,417			41,451		11%
Total Operating Expenses	6,357			6,379			6,316			6,881			6,760		7,063		7,506		19%	19,052			21,329		12%
Net Credit Losses	1,636			1,754			1,816			2,060			2,131		2,092		2,554		41%	5,206			6,777		30%
Credit Reserve Build / (Release)	(195		)	(336		)	(96		)	(27		)	294		481		2,013		NM	(627		)	2,788		NM
Provision for Benefits & Claims	227			231			274			235			261		196		234		(15)%	732			691		(6)%
Provisions for Loan Losses and for Benefits and Claims	1,668			1,649			1,994			2,268			2,686		2,769		4,801		NM	5,311			10,256		93%
Income Before Taxes and Minority Interest	3,930			4,600			4,524			3,733			3,660		3,830		2,376		(47)%	13,054			9,866		(24)%
Income Taxes	847			1,400			1,312			1,107			1,017		1,104		568		(57)%	3,559			2,689		(24)%
Minority Interest, Net of Tax	10			23			17			15			10		30		25		47%	50			65		30%
Net Income	$	3,073		$	3,177		$	3,195		$	2,611		$	2,633	$	2,696	$	1,783	(44)%	$	9,445		$	7,112	(25)%
Key Indicators (in billions of dollars):
Average Managed Loans	$	509.0		$	526.2		$	537.9		$	552.7		$	566.0	$	588.2	$	606.6	13%
Average Deposits	$	243.6		$	247.4		$	253.9		$	263.5		$	273.4	$	289.3	$	298.6	18%
Total Branches	7,440			7,670			7,933			8,110			8,140		8,202		8,294		5%

Reclassified to conform to the current period’s presentation.

8

GLOBAL CONSUMER
Page 2
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S.:
Net Interest Revenue	$	4,138		$	4,189		$	4,141		$	4,178		$	4,185		$	4,285		$	4,252		3%	$	12,468		$	12,722		2%
Non-Interest Revenue	3,122			3,384			3,663			3,779			3,529			3,493			3,580			(2)%	10,169			10,602			4%
Total Revenues, Net of Interest Expense	7,260			7,573			7,804			7,957			7,714			7,778			7,832			—	22,637			23,324			3%
Total Operating Expenses	3,569			3,551			3,426			3,603			3,629			3,644			3,710			8%	10,546			10,983			4%
Net Credit Losses	915			907			939			1,057			1,079			1,090			1,217			30%	2,761			3,386			23%
Credit Reserve Build / (Release)	(196		)	(274		)	(197		)	(127		)	182			245			1,296			NM	(667		)	1,723			NM
Provision for Benefits & Claims	182			194			220			180			209			169			187			(15)%	596			565			(5)%
Provisions for Loan Losses and for Benefits and Claims	901			827			962			1,110			1,470			1,504			2,700			NM	2,690			5,674			NM
Income Before Taxes and Minority Interest	2,790			3,195			3,416			3,244			2,615			2,630			1,422			(58)%	9,401			6,667			(29)%
Income Taxes	777			1,121			1,162			1,137			842			845			413			(64)%	3,060			2,100			(31)%
Minority Interest, Net of Tax	9			20			16			13			8			14			5			(69)%	45			27			(40)%
Net Income	$	2,004		$	2,054		$	2,238		$	2,094		$	1,765		$	1,771		$	1,004		(55)%	$	6,296		$	4,540		(28)%
Key Indicators (in billions of dollars):
Average Managed Loans	$	400.8		$	413.7		$	421.8		$	430.5		$	440.0		$	447.6		$	457.4		8%
Average Deposits	$	99.1		$	100.8		$	105.5		$	113.1		$	119.2		$	120.9		$	122.9		16%
Total Branches	3,205			3,253			3,353			3,441			3,488			3,433			3,482			4%
International:
Net Interest Revenue	$	3,133		$	3,343		$	3,445		$	2,945		$	3,489		$	3,938		$	4,072		18%	$	9,921		$	11,499		16%
Non-Interest Revenue	1,576			1,731			1,622			2,000			1,899			1,948			2,787			72%	4,929			6,634			35%
Total Revenues, Net of Interest Expense	4,709			5,074			5,067			4,945			5,388			5,886			6,859			35%	14,850			18,133			22%
Total Operating Expenses	2,621			2,701			2,769			3,110			2,976			3,264			3,627			31%	8,091			9,867			22%
Net Credit Losses	721			847			877			1,003			1,052			1,002			1,337			52%	2,445			3,391			39%
Credit Reserve Build / (Release)	1			(62		)	101			100			112			236			717			NM	40			1,065			NM
Provision for Benefits & Claims	45			37			54			55			52			27			47			(13)%	136			126			(7)%
Provisions for Loan Losses and for Benefits and Claims	767			822			1,032			1,158			1,216			1,265			2,101			NM	2,621			4,582			75%
Income Before Taxes and Minority Interest	1,321			1,551			1,266			677			1,196			1,357			1,131			(11)%	4,138			3,684			(11)%
Income Taxes	184			333			227			47			241			325			232			2%	744			798			7%
Minority Interest, Net of Tax	1			3			1			2			2			16			20			NM	5			38			NM
Net Income	$	1,136		$	1,215		$	1,038		$	628		$	953		$	1,016		$	879		(15)%	$	3,389		$	2,848		(16)%
Key Indicators (in billions of dollars):
Average Loans	$	108.2		$	112.5		$	116.1		$	122.2		$	126.0		$	140.6		$	149.2		29%
Average Deposits	$	144.5		$	146.6		$	148.4		$	150.4		$	154.2		$	168.4		$	175.7		18%
Total Branches	4,235			4,417			4,580			4,669			4,652			4,769			4,812			5%
Other Consumer:
Net Interest Revenue	$	(47	)	$	(51	)	$	(63	)	$	(50	)	$	(30	)	$	(34	)	$	(39	)	38%	$	(161	)	$	(103	)	36%
Non-Interest Revenue	33			32			26			30			34			32			31			19%	91			97			7%
Total Revenues, Net of Interest Expense	(14		)	(19		)	(37		)	(20		)	4			(2		)	(8		)	78%	(70		)	(6		)	91%
Total Operating Expenses	167			127			121			168			155			155			169			40%	415			479			15%
Income Before Taxes	(181		)	(146		)	(158		)	(188		)	(151		)	(157		)	(177		)	(12)%	(485		)	(485		)	—
Income Taxes	(114		)	(54		)	(77		)	(77		)	(66		)	(66		)	(77		)	—	(245		)	(209		)	15%
Net Income	$	(67	)	$	(92	)	$	(81	)	$	(111	)	$	(85	)	$	(91	)	$	(100	)	(23)%	$	(240	)	$	(276	)	(15)%

NM Not meaningful

Reclassified to conform to the current period’s presentation.

9

GLOBAL CONSUMER
U.S.
CARDS - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues declined 2% primarily due to lower securitization results.  Lower securitization revenues primarily reflected a decrease in gains on sale of receivables, as well as the net impact of funding costs and higher expected credit losses in the securitization trusts.  Net interest revenues declined 15% as increased receivable securitizations and lower promotional balances led to a decline in loans held on balance sheet.   The managed net interest margin improved 29 basis points to 10.57% primarily due to growth in non-promotional balances.

**Average managed loans were approximately flat as a 6% increase in purchase sales, driven by growth in travel, business, and partner portfolios, was offset by lower promotional balances. Compared to the second quarter 2007, average managed loans increased 1%.

**Expenses grew 4% primarily driven by increased collection and servicing expenses, and lower marketing costs.

**Higher credit costs were driven by a $134 million pre-tax charge to increase loan loss reserves, reflecting a weakening of leading credit indicators in the portfolio and trends in the macro-economic environment.  The increase in loan loss reserves compares to a $122 million release in the prior-year period.  The managed net credit loss ratio increased 15 basis points to 4.41%, primarily reflecting unusually low bankruptcy filings in the prior-year period.

**  Net income declined 21%, reflecting lower securitization revenues, increased expenses and increased credit costs.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	1,193		$	1,167		$	1,140		$	1,126		$	1,031		$	1,037		$	969		(15)%	$	3,500		$	3,037		(13)%
Non-Interest Revenue	2,041			2,084			2,312			2,445			2,263			2,144			2,417			5%	6,437			6,824			6%
Total Revenues, Net of Interest Expense (1)	3,234			3,251			3,452			3,571			3,294			3,181			3,386			(2)%	9,937			9,861			(1)
Total Operating Expenses	1,532			1,554			1,447			1,535			1,485			1,452			1,503			4%	4,533			4,440			(2)%
Net Credit Losses	446			447			456			439			439			408			399			(13)%	1,349			1,246			(8)%
Credit Reserve Build / (Release)	(72		)	(160		)	(122		)	(37		)	(44		)	224			134			NM	(354		)	314			NM
Provision for Benefits & Claims	21			25			26			18			21			12			20			(23)%	72			53			(26)%
Provision for Loan Losses and for Benefits and Claims	395			312			360			420			416			644			553			54%	1,067			1,613			51%
Income Before Taxes and Minority Interest	1,307			1,385			1,645			1,616			1,393			1,085			1,330			(19)%	4,337			3,808			(12)%
Income Taxes and Minority Interest	381			507			560			615			496			359			478			(15)%	1,448			1,333			(8)%
Net Income	$	926		$	878		$	1,085		$	1,001		$	897		$	726		$	852		(21)%	$	2,889		$	2,475		(14)%
Average Assets (in billions of dollars)	$	63		$	63		$	64		$	62		$	63		$	61		$	58		(9)%	$	63		$	61		(3)%
Return on Assets	5.96		%	5.59		%	6.73		%	6.41		%	5.77		%	4.77		%	5.83		%		6.13		%	5.42		%
Net Credit Loss Ratio	4.27		%	4.11		%	4.22		%	4.30		%	4.58		%	4.39		%	4.39		%
Average Risk Capital	$	5,563		$	5,591		$	5,628		$	5,544		$	5,452		$	5,265		$	5,213		(7)%	$	5,594		$	5,309		(5)%
Return on Risk Capital	68		%	63		%	76		%	72		%	67		%	55		%	65		%		69		%	62		%
Return on Invested Capital	28		%	26		%	32		%	30		%	28		%	23		%	27		%		29		%	26		%
KEY INDICATORS - Managed Basis (2) (in billions of dollars)
Return on Managed Assets	2.59		%	2.42		%	2.91		%	2.71		%	2.37		%	1.99		%	2.28		%
Average Managed Loans:
Securitized	$	94.7		$	94.5		$	97.3		$	99.1		$	97.3		$	97.5		$	101.0		4%
Held for Sale	0.3			—			0.5			0.2			3.0			3.3			3.0			NM
On Balance Sheet	42.3			43.6			42.8			40.5			38.9			37.3			36.1			(16)%
Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		$	138.1		$	140.1		—
Bankcards	$	110.4		$	110.3		$	110.6		$	109.2		$	108.4		$	107.4		$	108.4		(2)%
Private Label	26.9			27.8			30.0			30.6			30.8			30.7			31.7			6%
Total Managed	$	137.3		$	138.1		$	140.6		$	139.8		$	139.2		$	138.1		$	140.1		—
End of Period Managed Loans:
Bankcards	$	109.7		$	111.3		$	110.3		$	111.6		$	107.3		$	108.9		$	110.1		—
Private Label	26.2			29.4			30.5			32.4			30.2			31.2			31.8			4%
Total	$	135.9		$	140.7		$	140.8		$	144.0		$	137.5		$	140.1		$	141.9		1%

(1)    The 2006 first quarter, 2006 second quarter, 2006 third quarter, 2006 fourth quarter, 2007 first quarter, 2007 second quarter and 2007 third quarter include releases of $90 million, $125 million, $109 million, $74 million, $98 million, $144 million and $73 million, respectively, from the allowance for credit losses related to loan receivables that were either securitized or transferred to loans held-for-sale during the quarter.

(2)    Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity. Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company’s owned loans.

NM Not meaningful

Reclassified to conform to the current period’s presentation.

10

GLOBAL CONSUMER
U.S.
CARDS - Page 2
(In millions of dollars)

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)
SUPPLEMENTAL DISCLOSURE - Managed Basis(1):
EOP Open Accounts (in millions)		131.1			144.4			151.1			153.2			150.0			147.5			146.4			(3)%
Purchase Sales (in billions of dollars) (2)		$	68.4		$	77.9		$	77.0		$	81.0		$	72.4		$	82.2		$	81.6		6%
Managed Average Yield (3)	Bankcards	12.85		%	12.52		%	12.61		%	12.82		%	13.00		%	12.93		%	13.19		%
	Private Label	19.55		%	19.02		%	19.14		%	18.63		%	18.51		%	18.62		%	18.73		%
	Total	14.16		%	13.83		%	14.00		%	14.09		%	14.22		%	14.19		%	14.44		%
Managed Net Interest Revenue (in millions of dollars) (4)	Bankcards	$	2,471		$	2,292		$	2,332		$	2,364		$	2,248		$	2,272		$	2,379		2%
	Private Label	1,076			1,112			1,312			1,296			1,223			1,286			1,348			3%
	Total	$	3,547		$	3,404		$	3,644		$	3,660		$	3,471		$	3,558		$	3,727		2%
Managed Net Interest Revenue as a % of Average Managed Loans	Bankcards	9.09		%	8.33		%	8.37		%	8.59		%	8.40		%	8.49		%	8.71		%
	Private Label	16.22		%	16.04		%	17.35		%	16.80		%	16.10		%	16.80		%	16.87		%
	Total	10.48		%	9.89		%	10.28		%	10.39		%	10.11		%	10.33		%	10.55		%
Managed Net Credit Margin (in millions of dollars) (5)	Bankcards	$	2,146		$	1,942		$	1,904		$	1,994		$	1,878		$	1,846		$	2,047		8%
	Private Label	617			669			792			855			716			736			826			4%
	Total	$	2,763		$	2,611		$	2,696		$	2,849		$	2,594		$	2,582		$	2,873		7%
Managed Net Credit Margin as a % of Average Managed Loans	Bankcards	7.88		%	7.06		%	6.83		%	7.24		%	7.03		%	6.89		%	7.49		%
	Private Label	9.30		%	9.65		%	10.47		%	11.09		%	9.43		%	9.62		%	10.34		%
	Total	8.16		%	7.58		%	7.61		%	8.09		%	7.56		%	7.50		%	8.14		%
Managed Net Credit Losses (in millions of dollars)	Bankcards	$	948		$	1,040		$	1,124		$	1,116		$	1,143		$	1,138		$	1,135		1%
	Private Label	373			376			384			417			446			427			439			14%
	Total	$	1,321		$	1,416		$	1,508		$	1,533		$	1,589		$	1,565		$	1,574		4%
Coincident Managed Net Credit Loss Ratio:	Bankcards	3.49		%	3.78		%	4.03		%	4.05		%	4.27		%	4.25		%	4.15		%
	Private Label	5.62		%	5.42		%	5.08		%	5.41		%	5.87		%	5.58		%	5.49		%
	Total	3.90		%	4.11		%	4.26		%	4.35		%	4.63		%	4.55		%	4.41		%
12 Month Lagged Managed Net Credit Loss Ratio		3.83		%	4.20		%	4.45		%	4.46		%	4.70		%	4.55		%	4.44		%
Managed Loans 90+Days Past Due	Bankcards	$	1,536		$	1,530		$	1,580		$	1,619		$	1,520		$	1,449		$	1,572		(1)%
	Private Label	825			705			675			715			642			605			688			2%
	Total	$	2,361		$	2,235		$	2,255		$	2,334		$	2,162		$	2,054		$	2,260		—
% of EOP Managed Loans	Bankcards	1.40		%	1.37		%	1.43		%	1.45		%	1.42		%	1.33		%	1.43		%
	Private Label	3.15		%	2.40		%	2.21		%	2.21		%	2.13		%	1.94		%	2.16		%
	Total	1.74		%	1.58		%	1.60		%	1.62		%	1.57		%	1.47		%	1.60		%

(1)	Managed basis presentation includes results from both the on-balance sheet loans and off- balance sheet loans, and excludes the impact of card securitization activity. Managed disclosures assume that securitized loans have not been sold and present the results of the securitized loans in the same manner as the Company’s owned loans.
(2)	Purchase Sales represents customers’ purchased sales plus cash advances.
(3)	Gross interest revenue earned divided by average managed loans.
(4)	Includes certain fees that are recorded as interest revenue.
(5)	Total Revenues, net of Interest Expense, less Net Credit Losses.
Reclassified to conform to the current period’s presentation.

11

GLOBAL CONSUMER
U.S.
RETAIL DISTRIBUTION - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues grew 7%, driven by higher average loans and deposits, up 19% and 14%, respectively. Volume growth was partially offset by lower net interest margins, reflecting a shift in customer deposits to higher cost Direct Bank and time deposit balances.   Checking accounts increased 8%.

**Expenses increased 9% due to investment in new branches and higher customer activity.  During the quarter, 35 new consumer finance branches and 14 new Citibank branches were opened.

**Credit costs increased substantially, driven by higher net credit losses and a $299 million pre-tax charge to increase loan loss reserves.  Higher credit costs reflected a weakening of leading credit indicators in the portfolio, including higher delinquencies in unsecured personal loans, portfolio growth, and a change in estimate of loan losses. The net credit loss ratio increased 39 basis points to 2.87%, partially reflecting unusually low bankruptcy filings in the prior-year period.

**Net income declined 47%, primarily due to higher expenses and credit costs.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	1,451		$	1,497		$	1,521		$	1,511		$	1,529		$	1,602		$	1,646		8%	$	4,469		$	4,777		7%
Non-Interest Revenue	845			1,002			861			896			897			943			893			4%	2,708			2,733			1%
Total Revenues, Net of Interest Expense	2,296			2,499			2,382			2,407			2,426			2,545			2,539			7%	7,177			7,510			5%
Total Operating Expenses	1,221			1,200			1,201			1,256			1,323			1,340			1,314			9%	3,622			3,977			10%
Net Credit Losses	279			288			282			337			335			360			388			38%	849			1,083			28%
Credit Reserve Build / (Release)	(55		)	(31		)	(29		)	(59		)	(1		)	—			299			NM	(115		)	298			NM
Provision for Benefits & Claims	163			168			193			162			188			157			167			(13)%	524			512			(2)%
Provision for Loan Losses and for Benefits and Claims	387			425			446			440			522			517			854			91%	1,258			1,893			50%
Income Before Taxes	688			874			735			711			581			688			371			(50)%	2,297			1,640			(29)%
Income Taxes	173			306			254			248			193			235			114			(55)%	733			542			(26)%
Net Income	$	515		$	568		$	481		$	463		$	388		$	453		$	257		(47)%	$	1,564		$	1,098		(30)%
Average Assets (in billions of dollars)	$	66		$	69		$	70		$	72		$	74		$	77		$	80		14%	$	68		$	77		13%
Return on Assets	3.16		%	3.30		%	2.73		%	2.55		%	2.13		%	2.36		%	1.27		%		3.08		%	1.91		%
Average Risk Capital	$	3,459		$	3,520		$	3,591		$	3,638		$	3,414		$	3,705		$	3,791		6%	$	3,523		$	3,637		3%
Return on Risk Capital	60		%	65		%	53		%	50		%	46		%	49		%	27		%		59		%	40		%
Return on Invested Capital	23		%	24		%	21		%	20		%	18		%	19		%	11		%		22		%	16		%
Revenues by Business:
Citibank Branches	$	737		$	904		$	765		$	743		$	781		$	877		$	842		10%	$	2,406		$	2,500		4%
CitiFinancial Branches	1,008			1,037			1,052			1,098			1,064			1,105			1,141			8%	3,097			3,310			7%
Primerica Financial Services	551			558			565			566			581			563			556			(2)%	1,674			1,700			2%
Total Revenues, Net of Interest Expense	$	2,296		$	2,499		$	2,382		$	2,407		$	2,426		$	2,545		$	2,539		7%	$	7,177		$	7,510		5%
Net Income by Business:
Citibank Branches	$	100		$	165		$	79		$	36		$	42		$	90		$	62		(22)%	$	344		$	194		(44)%
CitiFinancial Branches	265			264			270			278			215			226			62			(77)%	799			503			(37)%
Primerica Financial Services	150			139			132			149			131			137			133			1%	421			401			(5)%
Total Net Income	$	515		$	568		$	481		$	463		$	388		$	453		$	257		(47)%	$	1,564		$	1,098		(30)%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

12

GLOBAL CONSUMER
U.S.
RETAIL DISTRIBUTION - Page 2

		1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)
KEY INDICATORS:
Average Loans (in billions of dollars)	Citibank Branches	$	9.4		$	9.8		$	10.5		$	10.9		$	11.3		$	12.9		$	14.2		35%
	CitiFinancial Branches	33.1			33.8			34.7			35.5			36.3			37.6			39.4			14%
	Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		$	50.5		$	53.6		19%
Average Loans by Product (in billions of dollars)	Real estate secured loans	$	22.3		$	23.0		$	23.7		$	24.3		$	25.0		$	27.3		$	29.0		22%
	Personal loans	15.2			15.5			16.2			16.7			17.1			17.8			19.1			18%
	Sales finance and other	5.0			5.1			5.3			5.4			5.5			5.4			5.5			4%
	Total	$	42.5		$	43.6		$	45.2		$	46.4		$	47.6		$	50.5		$	53.6		19%
Net Interest Revenue (in millions of dollars)	Citibank Branches	$	501		$	505		$	508		$	479		$	517		$	564		$	571		12%
	CitiFinancial Branches	891			933			950			972			960			990			1,031			9%
	Primerica Financial Services	59			59			63			60			52			48			44			(30)%
	Total	$	1,451		$	1,497		$	1,521		$	1,511		$	1,529		$	1,602		$	1,646		8%
Net Credit Loss Ratio		2.66		%	2.65		%	2.48		%	2.88		%	2.85		%	2.86		%	2.87		%
Loans 90+ Days Past Due (in millions of dollars)		$	740		$	717		$	780		$	834		$	847		$	830		$	991		27%
% of EOP Loans		1.73		%	1.62		%	1.69		%	1.73		%	1.75		%	1.60		%	1.79		%
Number of Branches:	Citibank	906			892			931			972			993			1,001			1,015			9%
	CitiFinancial	2,299			2,361			2,422			2,469			2,495			2,432			2,467			2%
	Total	3,205			3,253			3,353			3,441			3,488			3,433			3,482			4%
Total EOP Accounts (in millions)	Citibank Branches (1)	10.7			10.9			11.1			11.4			12.2			10.8			11.1			—
	CitiFinancial Branches	5.3			5.4			5.5			5.6			5.5			5.6			5.8			5%
	Primerica Financial Services	4.9			4.9			5.0			4.8			5.0			5.0			5.1			2%
	Total (1)	20.9			21.2			21.6			21.8			22.7			21.4			22.0			2%
Citibank Branches - Average Balances (in billions of dollars)
Checking, Savings & Money Market Deposits		$	64.1		$	64.1		$	64.7		$	66.2		$	72.3		$	74.1		$	73.4		13%
Time Deposits, CDs and Other		16.2			17.9			22.5			27.1			25.9			24.3			26.1			16%
Total Deposits		$	80.3		$	82.0		$	87.2		$	93.3		$	98.2		$	98.4		$	99.5		14%
Checking Accounts (in millions)		3.6			3.6			3.8			3.9			3.9			4.0			4.1			8%
Primerica Financial Services:
Life Insurance in Force (in billions of dollars)		$	583.9		$	596.4		$	602.8		$	605.5		$	614.0		$	623.5		$	638.0		6%
Loan Volumes (in millions of dollars)		$	1,087.0		$	1,104.0		$	917.0		$	1,026.2		$	964.2		$	1,194.9		$	1,137.6		24%
Mutual Fund Sales at NAV (in millions of dollars)		$	971		$	951		$	824		$	867		$	1,039		$	1,006		$	896		9%
Variable Annuity Net Written Premiums & Deposits (in millions of dollars)		$	388		$	362		$	345		$	346		$	452		$	383		$	396		15%
Investment AUMs (EOP) (in billions of dollars)		$	31.2		$	31.3		$	32.5		$	34.4		$	34.9		$	37.0		$	37.9		17%

(1) During the second quarter of 2007, Retail Distribution transferred approximately 1 million accounts to Smith Barney related to the consolidation of Citicorp Investment Services into Smith Barney.

Reclassified to conform to the current period’s presentation.

13

GLOBAL CONSUMER
U.S.
CONSUMER LENDING - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues increased 5%, driven by growth in net interest revenues and net servicing revenues, and the acquisition of ABN AMRO Mortgage Group in March 2007.  Net interest revenues grew 16%, reflecting growth in average loans, up 12%.  Non-interest revenues declined due to the absence of gains on sales of mortgage-backed securities recorded in the prior-year period.

**Expenses grew 37%, driven by the integration of the ABN AMRO business, increased business volumes, and higher staffing costs related to collections.

**Credit costs increased substantially, driven by higher net credit losses and an $854 million pre-tax charge to increase loan loss reserves.  Higher credit costs were primarily driven by a weakening of leading credit indicators in the portfolio, including higher delinquencies in first and second mortgages, as well as trends in the macro-economic environment and a change in estimate of loan losses.

**Net income declined significantly reflecting higher expenses and credit costs.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	1,207		$	1,214		$	1,185		$	1,235		$	1,350		$	1,389		$	1,376		16%	$	3,606		$	4,115		14%
Non-Interest Revenue	53			93			296			236			201			217			172			(42)%	442			590			33%
Total Revenues, Net of Interest Expense	1,260			1,307			1,481			1,471			1,551			1,606			1,548			5%	4,048			4,705			16%
Total Operating Expenses	453			444			450			466			491			557			616			37%	1,347			1,664			24%
Net Credit Losses	176			160			193			258			286			289			417			NM	529			992			88%
Credit Reserve Build / (Release)	(31		)	(75		)	(8		)	(13		)	217			39			854			NM	(114		)	1,110			NM
Provision for Benefits & Claims	(2		)	1			1			—			—			—			—			(100)%	—			—			—
Provision for Loan Losses and for Benefits and Claims	143			86			186			245			503			328			1,271			NM	415			2,102			NM
Income (Loss) Before Taxes and Minority Interest	664			777			845			760			557			721			(339		)	NM	2,286			939			(59)%
Income Taxes (Benefits)	218			287			308			263			190			266			(117		)	NM	813			339			(58)%
Minority Interest, Net of Tax	9			20			16			13			8			14			5			(69)%	45			27			(40)%
Net Income (Loss)	$	437		$	470		$	521		$	484		$	359		$	441		$	(227	)	NM	$	1,428		$	573		(60)%
Average Assets (in billions of dollars)	$	209		$	221		$	244		$	291		$	313		$	324		$	305		25%	$	225		$	314		40%
Return on Assets	0.85		%	0.85		%	0.85		%	0.66		%	0.47		%	0.55		%	(0.30		)%		0.85		%	0.24		%
Average Risk Capital	$	3,732		$	3,451		$	3,770		$	4,766		$	6,256		$	6,618		$	5,657		50%	$	3,651		$	6,177		69%
Return on Risk Capital	47		%	55		%	55		%	40		%	23		%	27		%	(16		)%		52		%	12		%
Return on Invested Capital	27		%	30		%	31		%	25		%	16		%	18		%	(11		)%		29		%	8		%
Revenues by Business:
Real Estate Lending	$	843		$	793		$	1,000		$	984		$	1,090		$	1,092		$	1,076		8%	$	2,636		$	3,258		24%
Student Loans	117			202			163			150			112			149			90			(45)%	482			351			(27)%
Auto	300			312			318			337			349			365			382			20%	930			1,096			18%
Total Revenues, Net of Interest Expense	$	1,260		$	1,307		$	1,481		$	1,471		$	1,551		$	1,606		$	1,548		5%	$	4,048		$	4,705		16%
Net Income by Business:
Real Estate Lending	$	328		$	297		$	389		$	387		$	297		$	298		$	(245	)	NM	$	1,014		$	350		(65)%
Student Loans	38			75			58			49			29			47			10			(83)%	171			86			(50)%
Auto	71			98			74			48			33			96			8			(89)%	243			137			(44)%
Total Net Income	$	437		$	470		$	521		$	484		$	359		$	441		$	(227	)	NM	$	1,428		$	573		(60)%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

14

GLOBAL CONSUMER
U.S.
CONSUMER LENDING - Page 2

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)
KEY INDICATORS:
Real Estate Lending - Balances (in billions of dollars):
Average Loans	$	149.6		$	159.1		$	163.5		$	171.1		$	177.5		$	183.3		$	185.4		13%
Originations	$	32.4		$	38.6		$	35.8		$	35.3		$	39.6		$	46.2		$	36.6		2%
Third Party Mortgage Servicing Portfolio (EOP)	$	307.4		$	324.9		$	353.2		$	357.8		$	580.2		$	585.3		$	575.1		63%
Net Servicing & Gain/(Loss) on Sale - (in millions of dollars)	$	10.5		$	(11.7	)	$	74.4		$	27.1		$	51.9		$	129.6		$	163.7		NM
Net Interest Revenue - (in millions of dollars)	$	812		$	804		$	788		$	825		$	930		$	948		$	931		18%
NIR as a % of Average Loans (excluding NIR for MBS & Warehouse Loans)	2.13		%	1.95		%	1.80		%	1.72		%	1.89		%	1.83		%	1.78		%
Net Credit Loss Ratio	0.19		%	0.19		%	0.19		%	0.23		%	0.33		%	0.40		%	0.56		%
Loans 90+Days Past Due - (in millions of dollars)	$	1,605		$	1,524		$	1,692		$	1,930		$	2,025		$	2,527		$	3,404		NM
% of EOP Loans	1.03		%	0.94		%	1.02		%	1.11		%	1.13		%	1.38		%	1.81		%
Student Loans - Balances (in billions of dollars):
Average Loans	$	24.7		$	24.7		$	23.2		$	21.9		$	22.5		$	20.9		$	21.2		(9)%
Originations	$	2.9		$	1.9		$	4.1		$	2.1		$	2.8		$	1.3		$	3.1		(24)%
Net Interest Revenue - (in millions of dollars)	$	104		$	106		$	88		$	83		$	85		$	89		$	87		(1)%
NIR as a % of Average Loans	1.71		%	1.72		%	1.50		%	1.50		%	1.53		%	1.71		%	1.63		%
Net Credit Loss Ratio	0.03		%	0.08		%	0.10		%	0.09		%	0.07		%	0.12		%	0.16		%
Loans 90+Days Past Due - (in millions of dollars)	$	729		$	747		$	726		$	775		$	879		$	806		$	776		7%
% of EOP Loans	2.95		%	3.26		%	3.34		%	3.56		%	4.19		%	4.01		%	3.68		%
Auto - (in billions of dollars):
Average Loans	$	12.8		$	13.5		$	14.3		$	15.5		$	16.6		$	18.2		$	19.1		34%
Originations	$	2.0		$	2.0		$	2.4		$	2.7		$	3.1		$	2.8		$	2.6		8%
Net Interest Revenue - (in millions of dollars)	$	291		$	304		$	309		$	327		$	335		$	352		$	358		16%
NIR as a % of Average Loans	9.22		%	9.03		%	8.57		%	8.37		%	8.18		%	7.76		%	7.44		%
Net Credit Margin (NCM) - (in millions of dollars)	$	196		$	231		$	207		$	184		$	210		$	264		$	235		14%
NCM as a % of Average Loans	6.21		%	6.86		%	5.74		%	4.71		%	5.13		%	5.82		%	4.88		%
Net Credit Loss Ratio	3.29		%	2.44		%	3.08		%	3.92		%	3.40		%	2.23		%	3.06		%
Loans 90+Days Past Due - (in millions of dollars)	$	77		$	85		$	138		$	165		$	122		$	175		$	246		78%
% of EOP Loans	0.58		%	0.61		%	0.93		%	1.02		%	0.69		%	0.94		%	1.26		%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

15

GLOBAL CONSUMER
U.S.
COMMERCIAL BUSINESS
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues declined as increased loan and deposit balances, up 9% and 28%, respectively, were offset by lower net interest margins, an increase in the mix of tax-advantaged revenues, and business divestitures.

**Net income declined as lower revenues and higher credit costs offset increased tax benefits. 

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	287		$	311		$	295		$	306		$	275		$	257		$	261		(12)%	$	893		$	793		(11)%
Non-Interest Revenue	183			205			194			202			168			189			98			(49)%	582			455			(22)%
Total Revenues, Net of Interest Expense	470			516			489			508			443			446			359			(27)%	1,475			1,248			(15)%
Total Operating Expenses	363			353			328			346			330			295			277			(16)%	1,044			902			(14)%
Net Credit Losses	14			12			8			23			19			33			13			63%	34			65			91%
Credit Reserve Build / (Release)	(38		)	(8		)	(38		)	(18		)	10			(18		)	9			NM	(84		)	1			NM
Total Provision for Loan Losses	(24		)	4			(30		)	5			29			15			22			NM	(50		)	66			NM
Income Before Taxes	131			159			191			157			84			136			60			(69)%	481			280			(42)%
Income Taxes	5			21			40			11			(37		)	(15		)	(62		)	NM	66			(114		)	NM
Net Income	$	126		$	138		$	151		$	146		$	121		$	151		$	122		(19)%	$	415		$	394		(5)%
Average Assets (in billions of dollars)	$	41		$	42		$	44		$	47		$	49		$	49		$	50		14%	$	42		$	49		17%
Return on Assets	1.25		%	1.32		%	1.36		%	1.23		%	1.00		%	1.24		%	0.97		%		1.32		%	1.08		%
Average Risk Capital	$	2,315		$	2,235		$	2,323		$	2,452		$	2,684		$	2,633		$	2,559		10%	$	2,291		$	2,625		15%
Return on Risk Capital	22		%	25		%	26		%	24		%	18		%	23		%	19		%		24		%	20		%
Return on Invested Capital	11		%	12		%	13		%	12		%	10		%	12		%	10		%		12		%	11		%
Total Revenues, Tax Equivalent Basis (1)	$	535		$	582		$	539		$	578		$	545		$	565		$	500		(7)%
KEY INDICATORS (in billions of dollars):
Total Deposits	$	18.8		$	18.8		$	18.3		$	19.8		$	21.0		$	22.5		$	23.4		28%
Commercial Real Estate	$	16.1		$	16.7		$	16.8		$	17.3		$	17.8		$	18.2		$	19.3		15%
Equipment Finance	14.1			14.4			14.6			14.8			15.0			14.3			14.5			(1)%
Other	3.3			3.3			3.4			3.6			3.7			4.0			4.2			24%
Average Loans	$	33.5		$	34.4		$	34.8		$	35.7		$	36.5		$	36.5		$	38.0		9%
Average Loans - Liquidating	0.4			0.3			0.2			0.1			0.1			0.1			—			(100)%
Average Loans - Total	$	33.9		$	34.7		$	35.0		$	35.8		$	36.6		$	36.6		$	38.0		9%
Operating Leases	1.8			1.8			1.8			1.9			1.9			1.7			1.6			(11)%
Total Average Earning Assets	$	35.7		$	36.5		$	36.8		$	37.7		$	38.5		$	38.3		$	39.6		8%
Net Credit Loss Ratio	0.17		%	0.14		%	0.09		%	0.25		%	0.21		%	0.36		%	0.14		%
Loans 90+Days Past Due - (in millions of dollars)	$	151		$	189		$	191		$	149		$	195		$	140		$	166		(13)%
% of EOP Loans	0.44		%	0.53		%	0.54		%	0.41		%	0.52		%	0.37		%	0.43		%

(1) Includes tax-equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) relating to income tax credits arising from affordable housing investments and for tax-exempt income from municipal bond investments.

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

16

GLOBAL CONSUMER
INTERNATIONAL
CARDS - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues grew 88%, primarily driven by higher purchase sales and average loans, up 37% and 52%, respectively, improved net interest margins, and a $729 million pre-tax gain on the sale of Redecard shares.  Excluding the gain, revenues increased 40%.  Loan balances grew at a double-digit pace in Mexico, EMEA, Asia, and Latin America.  Results include the integration of recent acquisitions.

**Credit costs increased substantially, driven by higher net credit losses and a $334 million pre-tax charge to increase loan loss reserves.   Higher credit costs were primarily due to acquisitions and organic portfolio growth, an increase in past due accounts in Mexico cards, and a change in estimate of loan losses.  The net credit loss ratio increased 61 basis points to 5.62%.

**Net income increased as higher revenues and the gain on the sale of Redecard shares offset significantly higher credit costs.   Excluding the gain on the sale of Redecard shares, net income declined 39%.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	773		$	912		$	964		$	1,068		$	1,121		$	1,488		$	1,588		65%	$	2,649		$	4,197		58%
Non-Interest Revenue	507			598			555			582			618			525			1,264			NM	1,660			2,407			45%
Total Revenues, Net of Interest Expense	1,280			1,510			1,519			1,650			1,739			2,013			2,852			88%	4,309			6,604			53%
Total Operating Expenses	617			714			740			837			819			933			1,010			36%	2,071			2,762			33%
Net Credit Losses	218			333			347			402			384			397			594			71%	898			1,375			53%
Specific and Unallocated Credit Reserve Build / (Release)	94			26			59			87			22			201			334			NM	179			557			NM
Total Provision for Loan Losses	312			359			406			489			406			598			928			NM	1,077			1,932			79%
Income Before Taxes and Minority Interest	351			437			373			324			514			482			914			NM	1,161			1,910			65%
Income Taxes and Minority Interest	60			109			86			93			126			131			267			NM	255			524			NM
Net Income	$	291		$	328		$	287		$	231		$	388		$	351		$	647		NM	$	906		$	1,386		53%
Average Assets (in billions of dollars)	$	28		$	30		$	32		$	34		$	38		$	45		$	50		56%	$	30		$	44		47%
Return on Assets	4.21		%	4.39		%	3.56		%	2.70		%	4.14		%	3.13		%	5.13		%		4.04		%	4.21		%
Average Risk Capital	$	2,073		$	2,202		$	2,185		$	2,301		$	2,537		$	2,927		$	3,300		51%	$	2,153		$	2,921		36%
Return on Risk Capital	57		%	60		%	52		%	40		%	62		%	48		%	78		%		56		%	63		%
Return on Invested Capital	27		%	29		%	24		%	18		%	26		%	22		%	35		%		27		%	28		%
Revenues by Region:
Mexico	$	405		$	443		$	465		$	513		$	530		$	558		$	566		22%	$	1,313		$	1,654		26%
EMEA	294			327			328			353			375			505			597			82%	949			1,477			56%
Japan	70			74			72			72			62			67			67			(7)%	216			196			(9)%
Asia (excluding Japan)	415			428			402			429			446			461			468			16%	1,245			1,375			10%
Latin America	96			238			252			283			326			422			1,154			NM	586			1,902			NM
Total	$	1,280		$	1,510		$	1,519		$	1,650		$	1,739		$	2,013		$	2,852		88%	$	4,309		$	6,604		53%
Net Income by Region:
Mexico	$	149		$	147		$	133		$	84		$	169		$	155		$	94		(29)%	$	429		$	418		(3)%
EMEA	32			43			55			19			46			55			40			(27)%	130			141			8%
Japan	21			13			13			16			9			13			10			(23)%	47			32			(32)%
Asia (excluding Japan)	54			56			73			82			98			98			33			(55)%	183			229			25%
Latin America	35			69			13			30			66			30			470			NM	117			566			NM
Total	$	291		$	328		$	287		$	231		$	388		$	351		$	647		NM	$	906		$	1,386		53%

NM Not meaningful

Reclassified to conform to the current period’s presentation.

17

GLOBAL CONSUMER
INTERNATIONAL
CARDS - Page 2

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)
KEY INDICATORS(in billions of dollars)
Average Yield	18.61		%	19.03		%	19.20		%	19.52		%	19.58		%	19.52		%	18.98		%
Net Interest Revenue as a % of Average Loans	12.90		%	14.02		%	13.91		%	14.31		%	14.57		%	15.83		%	15.04		%
Net Credit Margin (in millions of dollars) (1)	$	1,062		$	1,177		$	1,172		$	1,248		$	1,355		$	1,616		$	2,258		93%
% of Average Loans	17.72		%	18.09		%	16.91		%	16.73		%	17.61		%	17.19		%	21.38		%
End of Period Loans	$	24.1		$	26.8		$	28.1		$	31.0		$	32.2		$	40.9		$	43.4		54%
EOP Open Accounts (in millions)	26.7			30.1			30.6			30.9			31.7			34.7			35.6			16%
Purchase Sales (2)	$	17.4		$	19.7		$	20.5		$	23.0		$	21.7		$	25.8		$	28.0		37%
Average Loans:
Mexico	$	5.5		$	5.6		$	6.0		$	6.6		$	6.8		$	7.3		$	7.5		25%
EMEA	6.1			6.5			6.7			7.4			7.8			12.1			14.8			NM
Japan	1.3			1.4			1.4			1.4			1.4			1.4			1.5			7%
Asia (excluding Japan)	10.4			10.7			10.9			11.5			11.9			12.5			13.3			22%
Latin America	1.0			1.9			2.5			2.7			3.3			4.4			4.8			92%
Total	$	24.3		$	26.1		$	27.5		$	29.6		$	31.2		$	37.7		$	41.9		52%
Coincident Net Credit Loss Ratio	3.64		%	5.12		%	5.01		%	5.39		%	4.99		%	4.22		%	5.62		%
12 Month Lagged Net Credit Loss Ratio	4.13		%	6.02		%	6.06		%	6.82		%	6.41		%	6.10		%	8.57		%
Loans 90+Days Past Due (in millions of dollars)	$	535		$	643		$	723		$	709		$	736		$	950		$	964		33%
% of EOP Loans	2.22		%	2.40		%	2.57		%	2.29		%	2.29		%	2.32		%	2.22		%

(1)	Total Revenues, net of Interest Expense, less Net Credit Losses.
(2)	Purchase Sales represents customers’ purchased sales plus cash advances .
NM Not meaningful
Reclassified to conform to the current period’s presentation.

18

GLOBAL CONSUMER
INTERNATIONAL
CONSUMER FINANCE - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**In Japan, net income declined significantly due to charges to increase reserves for customer refunds and credit losses, higher expenses due to write-downs of $152 million pre-tax on customer intangibles and fixed assets, and a decline in revenues primarily due to lower receivable balances.  Financial results reflect recent adverse changes in the operating environment and the impact of consumer lending laws passed in the fourth quarter 2006.

**Outside of Japan, revenues increased 22%, driven by average loan growth of 20% and increased net interest margins.  Net income declined as revenue growth was offset by an increase in credit costs due to portfolio growth and seasoning, and a $90 million pre-tax charge to increase loan loss reserves primarily due to a change in estimate of loan losses.

The net credit loss ratio increased 48 basis points to 3.58%.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	921		$	971		$	962		$	295		$	838		$	793		$	743		(23)%	$	2,854		$	2,374		(17)%
Non-Interest Revenue	41			38			36			54			52			50			39			8%	115			141			23%
Total Revenues, Net of Interest Expense	962			1,009			998			349			890			843			782			(22)%	2,969			2,515			(15)%
Total Operating Expenses	419			427			406			498			407			398			565			39%	1,252			1,370			9%
Net Credit Losses	319			323			389			380			430			437			481			24%	1,031			1,348			31%
Credit Reserve Build / (Release)	(16		)	17			135			25			26			30			252			87%	136			308			NM
Provision for Benefits & Claims	1			—			(1		)	1			—			—			—			100%	—			—			—
Provision for Loan Losses and for Benefits and Claims	304			340			523			406			456			467			733			40%	1,167			1,656			42%
Income Before Taxes (Benefits)	239			242			69			(555		)	27			(22		)	(516		)	NM	550			(511		)	NM
Income Taxes (Benefits)	71			69			19			(204		)	2			(16		)	(196		)	NM	159			(210		)	NM
Net Income (Loss)	$	168		$	173		$	50		$	(351	)	$	25		$	(6	)	$	(320	)	NM	$	391		$	(301	)	NM
Average Assets (in billions of dollars)	$	26		$	27		$	28		$	29		$	29		$	29		$	29		4%	$	27		$	29		7%
Return on Assets	2.62		%	2.57		%	0.71		%	(4.80		)%	0.35		%	(0.08		)%	(4.38		)%		1.94		%	(1.39		)%
Average Risk Capital	$	1,165		$	1,042		$	1,093		$	1,156		$	1,187		$	1,156		$	1,109		1%	$	1,100		$	1,151		5%
Return on Risk Capital	58		%	67		%	18		%	(120		)%	9		%	(2		)%	(114		)%		48		%	(35		)%
Return on Invested Capital	19		%	20		%	6		%	(30		)%	3		%	(1		)%	(39		)%		15		%	(11		)%
Revenues by Region:
Mexico	$	53		$	55		$	62		$	66		$	70		$	71		$	73		18%	$	170		$	214		26%
EMEA	184			193			191			203			203			209			212			11%	568			624			10%
Asia (excluding Japan)	98			108			120			136			140			155			166			38%	326			461			41%
Latin America	36			38			38			43			43			50			50			32%	112			143			28%
sub-total	371			394			411			448			456			485			501			22%	1,176			1,442			23%
Japan	591			615			587			(99		)	434			358			281			(52)%	1,793			1,073			(40)%
Total	$	962		$	1,009		$	998		$	349		$	890		$	843		$	782		(22)%	$	2,969		$	2,515		(15)%
Net Income (Loss) by Region:
Mexico	$	10		$	11		$	12		$	8		$	10		$	8		$	—		(100)%	$	33		$	18		(45)%
EMEA	7			15			(13		)	(5		)	(3		)	4			(19		)	(46)%	9			(18		)	NM
Asia (excluding Japan)	16			12			15			16			13			16			(6		)	NM	43			23			(47)%
Latin America	—			1			(1		)	(2		)	(4		)	(1		)	(7		)	NM	—			(12		)	—
sub-total	33			39			13			17			16			27			(32		)	NM	85			11			(87)%
Japan	135			134			37			(368		)	9			(33		)	(288		)	NM	306			(312		)	NM
Total	$	168		$	173		$	50		$	(351	)	$	25		$	(6	)	$	(320	)	NM	$	391		$	(301	)	NM

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

19

GLOBAL CONSUMER
INTERNATIONAL
CONSUMER FINANCE - Page 2

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)
KEY INDICATORS:
Average Loans by Product (in billions of dollars):
Real estate secured loans	$	8.1		$	8.5		$	8.6		$	8.9		$	9.1		$	9.1		$	9.3		8%
Personal loans	13.3			14.3			14.6			15.0			15.0			15.3			15.8			8%
Auto	0.3			0.3			0.2			0.2			0.1			0.1			0.1			(50)%
Sales finance and other	0.7			0.7			0.8			0.8			0.8			0.8			0.7			(13)%
Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		$	25.3		$	25.9		7%
Average Loans by Region (in billions of dollars):
Mexico	$	0.3		$	0.3		$	0.4		$	0.4		$	0.4		$	0.4		$	0.4		—
EMEA	9.6			10.4			10.5			10.9			11.0			11.2			11.4			9%
Asia (excluding Japan)	2.3			2.6			2.9			3.4			3.8			4.3			4.7			62%
Latin America	0.6			0.6			0.7			0.7			0.8			0.9			0.9			29%
sub-total	12.8			13.9			14.5			15.4			16.0			16.8			17.4			20%
Japan	9.6			9.9			9.7			9.5			9.0			8.5			8.5			(12)%
Total	$	22.4		$	23.8		$	24.2		$	24.9		$	25.0		$	25.3		$	25.9		7%
Average Yield	19.06		%	18.88		%	18.49		%	7.82		%	17.08		%	16.49		%	15.38		%
Net Interest Revenue as a % of Average Loans	16.67		%	16.36		%	15.77		%	4.70		%	13.59		%	12.57		%	11.38		%
Net Credit Margin (NCM) - (in millions of dollars)	$	643		$	686		$	609		$	(31	)	$	460		$	406		$	301		(51)%
NCM as a % of Average Loans	11.64		%	11.56		%	9.98		%	(0.49		)%	7.46		%	6.44		%	4.61		%
Net Credit Loss Ratio	5.78		%	5.44		%	6.38		%	6.05		%	6.98		%	6.93		%	7.37		%
Net Credit Loss Ratio - Japan	9.12		%	9.74		%	11.26		%	11.15		%	13.56		%	14.25		%	15.12		%
Net Credit Loss Ratio - (excluding Japan)	3.27		%	2.36		%	3.10		%	2.92		%	3.24		%	3.21		%	3.58		%
Loans 90+ Days Past Due - (in millions of dollars)	$	437		$	519		$	575		$	608		$	592		$	612		$	609		6%
% of EOP Loans	1.93		%	2.16		%	2.37		%	2.43		%	2.34		%	2.43		%	2.30		%
Number of Sales Points:
Mexico Branches	288			312			349			394			419			424			426			22%
EMEA Branches	306			326			339			354			306			308			310			(9)%
Asia (excluding Japan) Branches	489			547			582			641			640			641			643			10%
Latin America Branches	180			188			213			255			253			248			248			16%
sub-total	1,263			1,373			1,483			1,644			1,618			1,621			1,627			10%
Japan Branches	325			324			324			135			51			51			51			(84)%
Japan Automated Loan Machines (ALMs)	731			809			809			809			708			708			706			(13)%
Total Japan	1,056			1,133			1,133			944			759			759			757			(33)%
Total	2,319			2,506			2,616			2,588			2,377			2,380			2,384			(9)%

Reclassified to conform to the current period’s presentation.

20

GLOBAL CONSUMER
INTERNATIONAL
RETAIL BANKING - Page 1
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenues increased 26%, driven by increased deposits and loans, up 18% and 26%, respectively, and investment product sales more than doubled.  Loan balances grew at a double-digit pace in EMEA, Asia, Latin America, and Mexico.  Results include the integration of recent acquisitions.

**Expenses grew 26%, reflecting increased business volumes and acquisitions.  During the quarter, 41 new branches were opened.

**Credit costs increased due to the absence of portfolio sales and loan loss reserve releases recorded in the prior-year period, and a $131 million pre-tax charge to increase loan loss reserves in the current period.  The charge to increase loan loss reserves primarily reflects a change in estimate of loan losses.

**Net income declined 21%, reflecting higher credit costs, and lower APB 23 tax benefits in Mexico.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	1,439		$	1,460		$	1,519		$	1,582		$	1,530		$	1,657		$	1,741		15%	$	4,418		$	4,928		12%
Non-Interest Revenue	1,028			1,095			1,031			1,364			1,229			1,373			1,484			44%	3,154			4,086			30%
Total Revenues, Net of Interest Expense	2,467			2,555			2,550			2,946			2,759			3,030			3,225			26%	7,572			9,014			19%
Total Operating Expenses	1,585			1,560			1,623			1,775			1,750			1,933			2,052			26%	4,768			5,735			20%
Net Credit Losses	184			191			141			221			238			168			262			86%	516			668			29%
Credit Reserve Build / (Release)	(77		)	(105		)	(93		)	(12		)	64			5			131			NM	(275		)	200			NM
Provision for Benefits & Claims	44			37			55			54			52			27			47			(15)%	136			126			(7)%
Provision for Loan Losses and for Benefits and Claims	151			123			103			263			354			200			440			NM	377			994			NM
Income Before Taxes and Minority Interest	731			872			824			908			655			897			733			(11)%	2,427			2,285			(6)%
Income Taxes	53			156			123			159			115			213			164			33%	332			492			48%
Minority Interest, Net of Tax	1			2			—			1			—			13			17			—	3			30			NM
Net Income	$	677		$	714		$	701		$	748		$	540		$	671		$	552		(21)%	$	2,092		$	1,763		(16)%
Average Assets (in billions of dollars)	$	119		$	120		$	127		$	131		$	132		$	148		$	157		24%	$	122		$	146		20%
Return on Assets	2.31		%	2.39		%	2.19		%	2.27		%	1.66		%	1.82		%	1.39		%		2.29		%	1.61		%
Average Risk Capital	$	9,407		$	9,481		$	9,348		$	9,641		$	10,123		$	11,295		$	11,223		20%	$	9,411		$	10,881		16%
Return on Risk Capital	29		%	30		%	30		%	31		%	22		%	24		%	20		%		30		%	22		%
Return on Invested Capital	15		%	16		%	15		%	17		%	13		%	13		%	11		%		16		%	12		%
Total Revenues, Net of Interest Expense:
Mexico	$	691		$	694		$	711		$	1,033		$	777		$	725		$	765		8%	$	2,096		$	2,267		8%
EMEA	792			840			834			848			868			904			929			11%	2,466			2,701			10%
Japan	114			118			123			118			119			255			301			NM	355			675			90%
Asia (excluding Japan)	676			708			687			726			773			848			886			29%	2,071			2,507			21%
Latin America	194			195			195			221			222			298			344			76%	584			864			48%
Total	$	2,467		$	2,555		$	2,550		$	2,946		$	2,759		$	3,030		$	3,225		26%	$	7,572		$	9,014		19%
Net Income (Loss) by Region:
Mexico	$	199		$	217		$	250		$	385		$	193		$	197		$	150		(40)%	$	666		$	540		(19)%
EMEA	146			157			171			98			40			89			37			(78)%	474			166			(65)%
Japan	32			31			29			26			27			52			54			86%	92			133			45%
Asia (excluding Japan)	277			291			240			234			272			312			307			28%	808			891			10%
Latin America	23			18			11			5			8			21			4			(64)%	52			33			(37)%
Total	$	677		$	714		$	701		$	748		$	540		$	671		$	552		(21)%	$	2,092		$	1,763		(16)%
KEY INDICATORS:
Net Credit Loss Ratio	1.21		%	1.22		%	0.87		%	1.29		%	1.38		%	0.87		%	1.28		%
Loans 90+Days Past Due (in millions of dollars)	$	736		$	680		$	679		$	667		$	630		$	658		$	739		9%
% of EOP Loans	1.21		%	1.08		%	1.04		%	0.97		%	0.88		%	0.83		%	0.89		%
Branches by Region:
Mexico	1,404			1,441			1,452			1,510			1,520			1,524			1,542			6%
EMEA	636			663			682			711			717			715			723			6%
Japan	25			25			25			25			25			25			30			20%
Asia (excluding Japan)	403			404			405			412			403			403			404			0%
Latin America	179			187			209			232			318			430			435			NM
Total	2,647			2,720			2,773			2,890			2,983			3,097			3,134			13%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

21

GLOBAL CONSUMER
INTERNATIONAL
RETAIL BANKING - Page 2

	1Q 2006		2Q 2006		3Q 2006		4Q 2006		1Q 2007		2Q 2007		3Q 2007		3Q07 vs. 3Q06 Increase/ (Decrease)
KEY INDICATORS (Continued):
International - Balances (in billions of dollars)
Checking, Savings & Money Market Deposits	$	76.8	$	78.8	$	77.6	$	75.9	$	77.2	$	86.5	$	90.7	17%
Time Deposits, CDs and Other	67.7		67.8		70.8		74.5		77.0		81.9		85.0		20%
Total Average Deposits	$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	$	168.4	$	175.7	18%
Investment Sales	$	31.1	$	31.8	$	28.9	$	28.8	$	35.3	$	37.7	$	36.4	26%
Investment AUMs (EOP)	$	93.8	$	95.4	$	101.0	$	107.7	$	112.6	$	121.6	$	129.6	28%
Other (primarily Retirement Services)	24.5		22.9		22.1		24.9		25.9		28.2		29.3		33%
Total AUMs	$	118.3	$	118.3	$	123.1	$	132.6	$	138.5	$	149.8	$	158.9	29%
Average Customer Deposits by Region (in billions of dollars):
Mexico	$	25.9	$	24.9	$	25.7	$	25.5	$	25.0	$	26.0	$	25.7	—
EMEA	31.0		32.8		32.7		33.0		33.9		42.6		48.0		47%
Japan	20.8		21.1		20.9		21.0		20.9		20.6		21.2		1%
Asia (excluding Japan)	59.6		60.6		61.5		62.9		65.7		67.2		67.6		10%
Latin America	7.2		7.2		7.6		8.0		8.7		12.0		13.2		74%
Total	$	144.5	$	146.6	$	148.4	$	150.4	$	154.2	$	168.4	$	175.7	18%
Average Loans by Region (in billions of dollars):
Mexico	$	8.2	$	7.7	$	7.9	$	8.2	$	8.3	$	9.0	$	9.1	15%
EMEA	17.4		18.6		19.0		19.8		20.2		24.8		27.1		43%
Japan	0.7		0.8		0.6		0.6		0.6		0.5		0.5		(17)%
Asia (excluding Japan)	34.1		34.4		35.6		37.6		39.0		40.5		41.3		16%
Latin America	1.1		1.1		1.3		1.5		1.7		2.8		3.4		NM
Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	$	77.6	$	81.4	26%
Average Loans by Type (in billions of dollars):
Mortgage	$	23.3	$	23.2	$	24.2	$	25.5	$	25.8	$	27.8	$	28.3	17%
Auto	2.3		2.2		2.2		2.2		2.2		2.3		2.2		—
Installment / Overdraft	23.2		24.4		25.4		26.9		27.9		32.0		34.2		35%
Commercial	8.1		8.2		8.5		9.0		9.9		10.6		11.0		29%
Other Retail	4.6		4.6		4.1		4.1		4.0		4.9		5.7		39%
Total	$	61.5	$	62.6	$	64.4	$	67.7	$	69.8	$	77.6	$	81.4	26%
EOP Accounts by Region (in millions):
Mexico	18.5		19.0		19.8		20.4		21.1		19.8		20.4		3%
EMEA	9.0		9.3		9.6		10.0		10.2		11.7		11.8		23%
Japan	2.0		2.1		2.1		2.1		2.1		2.1		2.1		—
Asia (excluding Japan)	12.0		12.1		12.3		11.6		11.9		12.2		12.5		2%
Latin America	7.0		7.2		7.5		7.7		8.3		8.7		9.0		20%
Total	48.5		49.7		51.3		51.8		53.6		54.5		55.8		9%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

22

MARKETS & BANKING
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006		4Q 2006			1Q 2007		2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006		Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Markets & Banking:
Net Interest Revenue	$	2,234		$	2,147		$	1,913	$	2,198		$	2,452	$	2,831		$	3,359		76%	$	6,294	$	8,642		37%
Non-Interest Revenue	5,045			4,614			4,154		4,882			6,505		6,130			1,244			(70)%	13,813		13,879			—
Total Revenues, Net of Interest Expense	7,279			6,761			6,067		7,080			8,957		8,961			4,603			(24)%	20,107		22,521			12%
Total Operating Expenses	4,757			4,158			3,622		4,582			5,111		4,948			4,011			11%	12,537		14,070			12%
Total Provision for Credit Losses	—			173			107		79			263		(62		)	205			92%	280		406			45%
Income Before Taxes and Minority Interest	2,522			2,430			2,338		2,419			3,583		4,075			387			(83)%	7,290		8,045			10%
Income Taxes	574			702			598		654			947		1,236			(38		)	NM	1,874		2,145			14%
Minority Interest, Net of Tax	19			5			19		11			15		7			(21		)	NM	43		1			(98)%
Net Income	$	1,929		$	1,723		$	1,721	$	1,754		$	2,621	$	2,832		$	446		(74)%	$	5,373	$	5,899		10%
U.S.:
Net Interest Revenue	$	858		$	713		$	356	$	782		$	710	$	1,019		$	1,185		NM	$	1,927	$	2,914		51%
Non-Interest Revenue	2,065			2,090			1,651		1,640			3,004		2,022			(924		)	NM	5,806		4,102			(29)%
Total Revenues, Net of Interest Expense	2,923			2,803			2,007		2,422			3,714		3,041			261			(87)%	7,733		7,016			(9)%
Total Operating Expenses	2,251			1,621			1,218		1,916			2,219		1,655			1,084			(11)%	5,090		4,958			(3)%
Total Provision for Credit Losses	52			137			55		16			65		6			46			(16)%	244		117			(52)%
Income Before Taxes and Minority Interest	620			1,045			734		490			1,430		1,380			(869		)	NM	2,399		1,941			(19)%
Income Taxes	94			301			185		85			430		408			(308		)	NM	580		530			(9)%
Minority Interest, Net of Tax	11			(3		)	9		(2		)	1		(12		)	(7		)	NM	17		(18		)	NM
Net Income	$	515		$	747		$	540	$	407		$	999	$	984		$	(554	)	NM	$	1,802	$	1,429		(21)%
International:
Net Interest Revenue	$	1,376		$	1,434		$	1,557	$	1,416		$	1,742	$	1,812		$	2,174		40%	$	4,367	$	5,728		31%
Non-Interest Revenue	2,980			2,524			2,503		3,242			3,501		4,108			2,168			(13)%	8,007		9,777			22%
Total Revenues, Net of Interest Expense	4,356			3,958			4,060		4,658			5,243		5,920			4,342			7%	12,374		15,505			25%
Total Operating Expenses	2,506			2,537			2,404		2,666			2,892		3,293			2,927			22%	7,447		9,112			22%
Total Provision for Credit Losses	(52		)	36			52		63			198		(68		)	159			NM	36		289			NM
Income Before Taxes and Minority Interest	1,902			1,385			1,604		1,929			2,153		2,695			1,256			(22)%	4,891		6,104			25%
Income Taxes	480			401			413		569			517		828			270			(35)%	1,294		1,615			25%
Minority Interest, Net of Tax	8			8			10		13			14		19			(14		)	NM	26		19			(27)%
Net Income	$	1,414		$	976		$	1,181	$	1,347		$	1,622	$	1,848		$	1,000		(15)%	$	3,571	$	4,470		25%

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

23

MARKETS & BANKING
INCOME STATEMENT (In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues:
Commissions and Fees	$	682		$	713		$	555		$	591		$	697		$	693		$	811		46%	$	1,950		$	2,201		13%
Administration and Other Fiduciary Fees	756			797			780			797			865			974			1,085			39%	2,333			2,924			25%
Investment Banking	1,030			1,083			933			1,280			1,509			1,422			(34		)	NM	3,046			2,897			(5)%
Principal Transactions	2,198			1,495			1,521			1,684			2,844			2,403			(1,035		)	NM	5,214			4,212			(19)%
Other	379			526			365			530			590			638			417			14%	1,270			1,645			30%
Total Non-Interest Revenues	5,045			4,614			4,154			4,882			6,505			6,130			1,244			(70)%	13,813			13,879			0%
Net Interest Revenue (including Dividends)	2,234			2,147			1,913			2,198			2,452			2,831			3,359			76%	6,294			8,642			37%
Total Revenues, Net of Interest Expense	7,279			6,761			6,067			7,080			8,957			8,961			4,603			(24)%	20,107			22,521			12%
Non-Interest Expenses:
Compensation and Benefits	3,178			2,550			2,045			2,752			3,426			3,288			1,829			(11)%	7,773			8,543			10%
Other Operating and Administrative Expenses	1,579			1,608			1,577			1,830			1,685			1,660			2,182			38%	4,764			5,527			16%
Total Non-Interest Expenses	4,757			4,158			3,622			4,582			5,111			4,948			4,011			11%	12,537			14,070			12%
Provision for Loan Losses	(50		)	23			57			79			263			(62		)	155			NM	30			356			NM
Provision for Unfunded Lending Commitments	50			150			50			—			—			—			50			—	250			50			(80)%
Total Provision for Credit Losses	—			173			107			79			263			(62		)	205			92%	280			406			45%
Income Before Taxes and Minority Interest	2,522			2,430			2,338			2,419			3,583			4,075			387			(83)%	7,290			8,045			10%
Income Taxes	574			702			598			654			947			1,236			(38		)	NM	1,874			2,145			14%
Minority Interest, Net of Tax	19			5			19			11			15			7			(21		)	NM	43			1			(98)%
Net Income	$	1,929		$	1,723		$	1,721		$	1,754		$	2,621		$	2,832		$	446		(74)%	$	5,373		$	5,899		10%
Pre-tax Profit Margin	34.6		%	35.9		%	38.5		%	34.2		%	40.0		%	45.5		%	8.4		%		36.3		%	35.7		%
Compensation and Benefits Expenses as a Percent of Net Revenues (1)	43.7		%	37.7		%	33.7		%	38.9		%	38.2		%	36.7		%	39.7		%		38.7		%	37.9		%
Non-Compensation Expenses as a Percent of Net Revenues	21.7		%	23.8		%	26.0		%	25.8		%	18.8		%	18.5		%	47.4		%		23.7		%	24.5		%

(1)    The 2006 first quarter includes $449 million (pretax) related to the adoption of SFAS 123(R).

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

24

MARKETS & BANKING
REVENUE DETAILS (In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007 (1)			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenue Details:
Investment Banking:
Advisory and Other Fees	$	295		$	296		$	355		$	383		$	429		$	397		$	459		29%	$	946		$	1,285		36%
Equity Underwriting	286			284			204			463			523			539			389			91%	774			1,451			87%
Debt Underwriting	713			670			639			666			813			712			(193		)	NM	2,022			1,332			(34)%
Gross Investment Banking	1,294			1,250			1,198			1,512			1,765			1,648			655			(45)%	3,742			4,068			9%
Revenue Allocated to the Global Wealth Management Segment:
Equity Underwriting	(42		)	(49		)	(59		)	(111		)	(136		)	(137		)	(83		)	(41)%	(150		)	(356		)	NM
Debt Underwriting	(36		)	(51		)	(50		)	(58		)	(34		)	(42		)	(31		)	38%	(137		)	(107		)	22%
Net Investment Banking	1,216			1,150			1,089			1,343			1,595			1,469			541			(50)%	3,455			3,605			4%
Lending	411			569			481			526			561			495			412			(14)%	1,461			1,468			—
Equity Markets	1,179			945			868			900			1,483			1,582			1,033			19%	2,992			4,098			37%
Fixed Income Markets	3,148			2,762			2,315			2,749			3,771			3,419			671			(71)%	8,225			7,861			(4)%
Other Securities and Banking (2)	(58		)	(157		)	(186		)	(32		)	(97		)	156			(117		)	37%	(401		)	(58		)	86%
Total Securities and Banking Revenues (2)	5,896			5,269			4,567			5,486			7,313			7,121			2,540			(44)%	15,732			16,974			8%
Transaction Services	1,382			1,495			1,500			1,594			1,645			1,840			2,063			38%	4,377			5,548			27%
Other	1			(3		)	—			—			(1		)	—			—			—	(2		)	(1		)	50%
Total Markets & Banking Revenues	$	7,279		$	6,761		$	6,067		$	7,080		$	8,957		$	8,961		$	4,603		(24)%	$	20,107		$	22,521		12%

(1)Debt Underwriting in the third quarter of 2007, includes $901 million in revenue charges related to funded and unfunded highly-leveraged finance commitments. Lending in the third quarter of 2007, includes $451 million in revenue charges related to funded and unfunded highly-leveraged finance commitments.

(2)Prior to the second quarter of 2007, Securities and Banking revenues reflect Citigroup’s portion (49%) of the results of the Nikko Citigroup Joint Venture on each respective line with an offset in Other Securities and Banking to conform to the GAAP presentation.  Beginning in the 2007 second quarter, these results are consolidated.

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

25

MARKETS & BANKING
SECURITIES AND BANKING
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

·Fixed income markets revenues declined $1.64 billion to $671 million, driven primarily by:

·Losses of $1.56 billion, net of hedges, on sub-prime mortgages warehoused for future CDO securitizations, CDO positions, and leveraged loans warehoused for future CDO securitizations.

·Losses of $636 million in credit trading due to significant market volatility and disruption of historical pricing relationships.

·These losses were partially offset by strong double-digit revenue growth in interest rate and currency trading, and municipals.

·Equity markets revenues grew 19% to $1.03 billion, driven by double-digit growth in cash trading and derivatives, and a doubling of equity finance revenues.

·Lending revenues declined 14% to $412 million, primarily driven by write-downs of $451 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments, which were partially offset by hedging gains related to the corporate loan portfolio.

·Net investment banking revenues were $541 million, down 50% due to write-downs of $901 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments.  Excluding the write-downs, net revenues were $1.44 billion, up 32%.

·Equity underwriting revenues nearly doubled to $389 million, partially driven by an increase in market share.  Year-to-date, Citi ranks #2 in global equity underwriting.

·Record advisory and other fees increased 29% to $459 million.  Year-to-date, Citi ranks #3 in global announced and completed M&A.

·Growth in equity underwriting and advisory revenues was offset by losses in debt underwriting of $193 million, resulting from write-downs of $901 million, net of underwriting fees, on funded and unfunded highly leveraged finance commitments.

·Operating expenses increased 4%, reflecting a decline in incentive compensation costs offset by higher other operating and administrative expenses.  Other operating and administrative expenses grew primarily due to acquisitions, increased legal expenses, and higher business development costs.

·Credit costs increased, driven by higher net credit losses and a $125 million pre-tax charge to increase loan loss reserves for specific counterparties.  Credit costs reflect a slight weakening of credit quality in the portfolio.

·Results also reflected a significant decline in the effective tax rate, primarily due to a higher proportion of earnings in foreign jurisdictions that have lower tax rates.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	1,571		$	1,408		$	1,139		$	1,365		$	1,614		$	1,908		$	2,332		NM	$	4,118		$	5,854		42%
Non-Interest Revenue	4,325			3,861			3,428			4,121			5,699			5,213			208			(94)%	11,614			11,120			(4)%
Total Revenues, Net of Interest Expense	5,896			5,269			4,567			5,486			7,313			7,121			2,540			(44)%	15,732			16,974			8%
Total Operating Expenses	3,803			3,154			2,655			3,524			4,059			4,102			2,755			4%	9,612			10,916			14%
Provision for Loan Losses	(51		)	19			50			73			258			(56		)	151			NM	18			353			NM
Provision for Unfunded Lending Commitments	46			138			48			—			—			—			50			4%	232			50			(78)%
Total Provision for Credit Losses	(5		)	157			98			73			258			(56		)	201			NM	250			403			61%
Income (Loss) Before Taxes and Minority Interest	2,098			1,958			1,814			1,889			2,996			3,075			(416		)	NM	5,870			5,655			(4)%
Income Taxes (Benefits)	461			541			452			490			812			927			(266		)	NM	1,454			1,473			1%
Minority Interest, Net of Tax	19			5			18			10			11			3			(26		)	NM	42			(12		)	NM
Net Income (Loss)	$	1,618		$	1,412		$	1,344		$	1,389		$	2,173		$	2,145		$	(124	)	NM	$	4,374		$	4,194		(4)%
Average Risk Capital	$	19,123		$	20,173		$	20,450		$	20,817		$	22,701		$	25,912		$	29,985		47%	$	19,915		$	26,199		32%
Return on Risk Capital	34		%	28		%	26		%	26		%	39		%	33		%	(2		)%		29		%	21		%
Return on Invested Capital	26		%	21		%	19		%	20		%	30		%	26		%	(3		)%		22		%	16		%
Investment Banking
Global Debt, Equity and Equity-related Underwriting :
Global Volume (1)	$	180,639		$	164,628		$	154,680		$	181,146		$	204,442		$	199,491		$	107,334		(31)%	$	499,947		$	511,267		2%
Global Market Share	9.1		%	8.5		%	9.0		%	8.3		%	8.9		%	8.2		%	8.4		%		8.8		%	8.5		%
Rank	1			1			1			1			1			1			1				1			1
U.S. Volume (1)	$	112,927		$	118,422		$	101,607		$	103,023		$	137,521		$	134,059		$	78,285		(23)%	$	332,956		$	349,865		5%
U.S. Market Share	10.3		%	10.3		%	10.0		%	9.1		%	11.3		%	10.3		%	10.8		%		10.2		%	10.8		%
Rank	1			1			1			1			1			1			2				1			1

(1)   Full credit to book manager.  Market volumes and shares sourced from Thomson Financial Securities Data.

NM Not meaningful

Reclassified to conform to the current period’s presentation.

26

MARKETS & BANKING
TRANSACTION SERVICES
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

·Revenues increased 38% to a record $2.06 billion, driven by higher customer volumes, stable net interest margins, and the acquisition of The Bisys Group, which closed in August 2007.

·Strong double-digit revenue and net income growth was generated in EMEA, Asia, Latin America, Japan, and the U.S.

·Liability balances grew 34% and assets under custody were up 30%.

·Operating expenses increased 28%, primarily driven by increased business volumes.

·Net income increased 53% to a record $590 million.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	663		$	739		$	774		$	833		$	838		$	923		$	1,027		33%	$	2,176		$	2,788		28%
Non-Interest Revenue	719			756			726			761			807			917			1,036			43%	2,201			2,760			25%
Total Revenues, Net of Interest Expense	1,382			1,495			1,500			1,594			1,645			1,840			2,063			38%	4,377			5,548			27%
Total Operating Expenses	949			989			954			1,058			1,037			1,125			1,224			28%	2,892			3,386			17%
Provision for Loan Losses	1			4			7			6			5			(6		)	4			(43)%	12			3			(75)%
Provision for Unfunded Lending Commitments	4			12			2			—			—			—			—			(100)%	18			—			(100)%
Total Provision for Credit Losses	5			16			9			6			5			(6		)	4			(56)%	30			3			(90)%
Income Before Taxes and Minority Interest	428			490			537			530			603			721			835			55%	1,455			2,159			48%
Income Taxes and Minority Interest, Net of Tax	105			150			152			152			156			207			245			61%	407			608			49%
Net Income	$	323		$	340		$	385		$	378		$	447		$	514		$	590		53%	$	1,048		$	1,551		48%
Average Risk Capital	$	1,470		$	1,582		$	1,517		$	1,376		$	1,442		$	1,643		$	1,827		20%	$	1,523		$	1,637		7%
Return on Risk Capital	89		%	86		%	101		%	109		%	126		%	125		%	128		%		92		%	127		%
Return on Invested Capital	50		%	50		%	57		%	59		%	67		%	70		%	66		%		52		%	67		%
Revenue Details:
Cash Management	$	792		$	856		$	894		$	963		$	981		$	1,047		$	1,146		28%	$	2,542		$	3,174		25%
Securities Services	438			478			450			478			507			624			735			63%	1,366			1,866			37%
Trade	152			161			156			153			157			169			182			17%	469			508			8%
Total Revenues, Net of Interest Expense	$	1,382		$	1,495		$	1,500		$	1,594		$	1,645		$	1,840		$	2,063		38%	$	4,377		$	5,548		27%
Average Deposits and Other Customer Liability Balances (in billions)	$	170		$	191		$	191		$	203		$	213		$	237		$	255		34%
Assets Under Custody (EOP in trillions)	$	8.8		$	9.3		$	9.6		$	10.4		$	10.7		$	11.3		$	12.5		30%

Reclassified to conform to the current period's presentation.

27

GLOBAL WEALTH MANAGEMENT
(In millions of dollars)

	1Q 2006		2Q 2006			3Q 2006		4Q 2006			1Q 2007		2Q 2007			3Q 2007		3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006		Nine Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Global Wealth Management:
Net Interest Revenue	$	460	$	444		$	480	$	538		$	529	$	526		$	539	12%	$	1,384	$	1,594	15%
Non-Interest Revenue	2,023		2,048			2,006		2,178			2,289		2,671			2,970		48%	6,077		7,930		30%
Total Revenues, Net of Interest Expense	2,483		2,492			2,486		2,716			2,818		3,197			3,509		41%	7,461		9,524		28%
Total Operating Expenses	2,055		1,961			1,894		2,096			2,102		2,455			2,614		38%	5,910		7,171		21%
Total Provision for Loan Losses	5		8			16		(5		)	17		12			56		NM	29		85		NM
Income Before Taxes and Minority Interest	423		523			576		625			699		730			839		46%	1,522		2,268		49%
Income Taxes	136		176			177		214			251		199			312		76%	489		762		56%
Minority Interest, Net of Tax	—		—			—		—			—		17			38		—	—		55		—
Net Income	$	287	$	347		$	399	$	411		$	448	$	514		$	489	23%	$	1,033	$	1,451	40%
Financial Advisors (FA) / Bankers	13,837		13,671			13,601		13,694			13,605		15,595			15,458		14%
Annualized Revenue per FA / Banker (in thousands)	$	715	$	726		$	729	$	796		$	837	$	878		$	897	23%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management	$	369	$	363		$	374	$	399		$	418	$	509		$	515	38%
Total Client Assets	$	1,347	$	1,321		$	1,362	$	1,438		$	1,493	$	1,788		$	1,820	34%
Net Client Asset Flows	$	3	$	(4	)	$	3	$	12		$	6	$	—		$	8	NM
Average Deposits and Other Customer Liability Balances	$	99	$	100		$	106	$	110		$	113	$	113		$	119	12%
Average Loans	$	40	$	42		$	43	$	44		$	46	$	51		$	57	33%
U.S.:
Total Revenues, Net of Interest Expense	$	2,154	$	2,149		$	2,153	$	2,337		$	2,385	$	2,439		$	2,454	14%	$	6,456	$	7,278	13%
Total Operating Expenses	1,805		1,706			1,649		1,794			1,797		1,914			1,857		13%	5,160		5,568		8%
Total Provision for Loan Losses	5		5			9		(2		)	11		(4		)	44		NM	19		51		NM
Income Before Taxes and Minority Interest	344		438			495		545			577		529			553		12%	1,277		1,659		30%
Income Taxes	116		148			153		195			216		194			220		44%	417		630		51%
Minority Interest, Net of Tax	—		—			—		—			—		—			—		—	—		—		—
Net Income	$	228	$	290		$	342	$	350		$	361	$	335		$	333	(3)%	$	860	$	1,029	20%
International:
Total Revenues, Net of Interest Expense	$	329	$	343		$	333	$	379		$	433	$	758		$	1,055	NM	$	1,005	$	2,246	NM
Total Operating Expenses	250		255			245		302			305		541			757		NM	750		1,603		NM
Total Provision for Loan Losses	—		3			7		(3		)	6		16			12		71%	10		34		NM
Income Before Taxes and Minority Interest	79		85			81		80			122		201			286		NM	245		609		NM
Income Taxes	20		28			24		19			35		5			92		NM	72		132		83%
Minority Interest, Net of Tax	—		—			—		—			—		17			38		—	—		55		—
Net Income	$	59	$	57		$	57	$	61		$	87	$	179		$	156	NM	$	173	$	422	NM

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

28

GLOBAL WEALTH MANAGEMENT
SMITH BARNEY (1)
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

·Record revenues were driven by a 24% increase in fee-based and net interest revenues, reflecting a continued shift toward offering fee-based advisory products and services, and improved net interest margins.  Record revenue was also driven by higher transactional revenues, up 86%, reflecting increased ownership of Nikko Cordial Corporation in Japan and an increase in customer trading volumes.

·Assets under fee-based management increased 41% to $454 billion, primarily driven by acquisitions, positive market action, and net client asset flows.

·Expenses grew 40%, primarily due to increased customer activity and the impact of acquisitions.

·Net income increased 29%, reflecting increased business volumes and the impact of acquisitions, offset by the absence of a $31 million tax benefit recorded in the prior-year period.

	1Q 2006		2Q 2006			3Q 2006			4Q 2006		1Q 2007		2Q 2007			3Q 2007		3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007		YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Revenues:
Fee-Based and Net Interest Revenue	$	1,200	$	1,238		$	1,305		$	1,386	$	1,407	$	1,501		$	1,612	24%	$	3,743		$	4,520	21%
Commissions and Other Transactional Revenue	787		752			689			803		839		1,110			1,280		86%	2,228			3,229		45%
Total Revenues, Net of Interest Expense	1,987		1,990			1,994			2,189		2,246		2,611			2,892		45%	5,971			7,749		30%
Total Operating Expenses	1,720		1,624			1,565			1,710		1,724		2,063			2,188		40%	4,909			5,975		22%
Provision for Loan Losses	1		(1		)	(1		)	1		—		1			1		NM	(1		)	2		NM
Income Before Taxes and Minority Interest	266		367			430			478		522		547			703		63%	1,063			1,772		67%
Income Taxes	98		129			136			173		198		209			286		NM	363			693		91%
Minority Interest, Net of Tax	—		—			—			—		—		17			38		—	—			55		—
Net Income	$	168	$	238		$	294		$	305	$	324	$	321		$	379	29%	$	700		$	1,024	46%
Pretax Profit Margin	13%		18%			22%			22%		23%		21%			24%			18%			23%
Average Risk Capital	$	1,457	$	1,422		$	1,436		$	1,647	$	1,743	$	1,725		$	1,894	32%	$	1,438		$	1,787	24%
Return on Risk Capital	47%		67%			81%			73%		75%		75%			79%			65%			77%
Return on Invested Capital	24%		34%			41%			39%		39%		23%			20%			33%			25%
Financial Advisors	13,321		13,177			13,076			13,143		13,009		14,998			14,873		14%
Annualized Revenue per FA (000)	$	597	$	600		$	606		$	667	$	697	$	748		$	768	27%
Branch offices	635		635			635			634		638		805			803		26%
Revenues:
Net Interest Revenue	$	209	$	203		$	247		$	306	$	285	$	271		$	273	11%	$	659		$	829	26%
Non-Interest Revenue	1,778		1,787			1,747			1,883		1,961		2,340			2,619		50%	5,312			6,920		30%
Total	$	1,987	$	1,990		$	1,994		$	2,189	$	2,246	$	2,611		$	2,892	45%	$	5,971		$	7,749	30%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management (2)	$	319	$	313		$	322		$	343	$	362	$	448		$	454	41%
Total Client Assets	$	1,167	$	1,142		$	1,173		$	1,230	$	1,277	$	1,562		$	1,581	35%
Net Client Asset Flows	$	3	$	(5	)	$	2		$	9	$	7	$	(3	)	$	7	NM
Average Deposits and Other Customer Liability Balances	$	51	$	51		$	52		$	50	$	52	$	51		$	51	(2%)

(1)Smith Barney includes Smith Barney, Citigroup Wealth Advisors, Nikko, Quilter and  the legacy Citicorp Investment Services business.

(2)During the second quarter of 2007, Retail Distribution transferred approximately $47 billion of Client Assets and 686 Financial Advisors and 79  branches to Smith Barney related to the consolidation of Citicorp Investment Services into Smith Barney.

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

29

GLOBAL WEALTH MANAGEMENT
PRIVATE BANK
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

·Revenue growth was driven by a 42% increase in international revenues, reflecting strong growth in capital markets products in Asia and EMEA.  U.S. revenues increased 2% as increased business volumes were offset by net interest margin compression.

·Client business volumes increased 28%, including higher client assets under fee-based management, up 17%, and average loans, up 29%.

·Expense growth of 29% primarily reflected higher compensation costs, driven by increased client activity and the net addition of 60 bankers since the third quarter of 2006.

·Credit costs increased due to a $55 million pre-tax charge to increase loan loss reserves, primarily related to new loan volumes.

·Net income increased 5% as revenue growth was offset by higher expenses and credit costs.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Net Interest Revenue	$	251		$	241		$	233		$	232		$	244		$	255		$	266		14%	$	725		$	765		6%
Non-Interest Revenue	245			261			259			295			328			331			351			36%	765			1,010			32%
Total Revenues, Net of Interest Expense	496			502			492			527			572			586			617			25%	1,490			1,775			19%
Total Operating Expenses	335			337			329			386			378			392			426			29%	1,001			1,196			19%
Provision for Loan Losses	4			9			17			(6		)	17			11			55			NM	30			83			NM
Income Before Taxes	157			156			146			147			177			183			136			(7)%	459			496			8%
Income Taxes	38			47			41			41			53			(10		)	26			(37)%	126			69			(45)%
Net Income	$	119		$	109		$	105		$	106		$	124		$	193		$	110		5%	$	333		$	427		28%
Pretax Profit Margin	32		%	31		%	30		%	28		%	31		%	31		%	22		%		31		%	28		%
Average Risk Capital	$	1,082		$	944		$	928		$	1,036		$	1,136		$	1,153		$	1,286		39%	$	985		$	1,192		21%
Return on Risk Capital	45		%	46		%	45		%	41		%	44		%	67		%	34		%		45		%	48		%
Return on Invested Capital	42		%	42		%	41		%	38		%	40		%	61		%	32		%		42		%	44		%
Bankers	516			494			525			551			596			597			585			11%
Annualized Revenue per Banker (in thousands)	$	3,898		$	3,976		$	3,863		$	3,918		$	4,047		$	3,940		$	4,142		7%
Key Indicators (in billions of dollars):
Client Assets Under Fee-Based Management	$	50		$	50		$	52		$	56		$	56		$	61		$	61		17%
Deposits and Other Customer Liability Balances	47			50			54			62			63			63			72			33%
Other, Principally Custody Accounts	83			79			83			90			97			102			106			28%
Total Client Assets	$	180		$	179		$	189		$	208		$	216		$	226		$	239		26%
Loans and Unused Commitments	42			43			44			46			48			54			59			34%
Total Client Business Volumes	$	222		$	222		$	233		$	254		$	264		$	280		$	298		28%
Net Client Asset Flows	$	—		$	1		$	1		$	3		$	(1	)	$	3		$	1		—
Average Deposits and Other Customer Liability Balances	$	48		$	49		$	54		$	60		$	61		$	62		$	68		26%
Average Loans	$	38		$	40		$	41		$	42		$	44		$	47		$	53		29%
Revenues:
U.S.	$	210		$	210		$	204		$	198		$	201		$	201		$	208		2%	$	624		$	610		(2)%
International	286			292			288			329			371			385			409			42%	866			1,165			35%
Total	$	496		$	502		$	492		$	527		$	572		$	586		$	617		25%	$	1,490		$	1,775		19%
Net Credit Loss Ratio	(0.04)		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%	0.00		%

NM  Not meaningful

Reclassified to conform to the current period's presentation.

30

ALTERNATIVE INVESTMENTS (1)
(In millions of dollars)

For your convenience, an excerpt from our 2007 third quarter earnings press release is set out below. You can find the entire press release, as well as those from prior periods, on Citigroup’s website at www.citigroup.com.

**Revenue and net income declined as strong growth in client revenues, up 75%, was offset by significantly lower proprietary investment revenues.  Proprietary investment revenues declined primarily due to a lower market value on Legg Mason shares, lower results from hedge fund activities, and the absence of a gain on sale of Metlife shares in the prior-year period.  Client capital under management increased 50%.Client revenues and capital reflect organic growth and the acquisition of Old Lane Partners, L.P.

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Total Revenues, Net of Interest Expense	$	675		$	584		$	334		$	1,308		$	562		$	1,032		$	125		(63)%	$	1,593		$	1,719		8%
Total Operating Expenses	181			199			137			246			180			215			238			74%	517			633			22%
Provision for Loan Losses	—			(13		)	—			—			1			—			(1		)	—	(13		)	—			100%
Income (Loss) Before Taxes and Minority Interest	494			398			197			1,062			381			817			(112		)	NM	1,089			1,086			—
Income Taxes (Benefits)	111			138			70			387			138			297			(44		)	NM	319			391			23%
Minority Interest, Net of Tax	30			3			10			126			21			64			(1		)	NM	43			84			95%
Net Income (Loss)	$	353		$	257		$	117		$	549		$	222		$	456		$	(67	)	NM	$	727		$	611		(16)%
Average Risk Capital (in billions)	$	4.5		$	4.0		$	4.0		$	4.1		$	4.1		$	4.0		$	4.3		8%	$	4.2		$	4.1		(2)%
Return on Risk Capital	32		%	26		%	12		%	53		%	22		%	46		%	(6		)%		23		%	20		%
Return on Invested Capital	28		%	22		%	8		%	50		%	19		%	42		%	(8		)%		20		%	17		%
Total Revenues, Net of Interest Expense (by Business):
Client	$	91		$	97		$	97		$	178		$	126		$	122		$	170		75%	$	285		$	418		47%
Proprietary Investment Activities:
Private Equity	213			516			56			958			361			711			233			NM	785			1,305			66%
Hedge Funds	107			(43		)	1			146			47			119			(208		)	NM	65			(42		)	NM
Other	264			14			180			26			28			80			(70		)	NM	458			38			(92)%
Total Proprietary Investment Activities	584			487			237			1,130			436			910			(45		)	NM	1,308			1,301			(1)%
Total	$	675		$	584		$	334		$	1,308		$	562		$	1,032		$	125		(63)%	$	1,593		$	1,719		8%
Total Revenues, Net of Interest Expense (by Type):
Client	$	91		$	97		$	97		$	178		$	126		$	122		$	170		75%	$	285		$	418		47%
Proprietary Investment Activities:
Fees / Dividends / Interest	49			49			58			293			35			42			144			NM	156			221			42%
Realized & Unrealized Gains (including Public Mark-to-Market)	563			475			200			869			444			910			(121		)	NM	1,238			1,233			0%
Other	(28		)	(37		)	(21		)	(32		)	(43		)	(42		)	(68		)	NM	(86		)	(153		)	(78)%
Total Proprietary Investment Activities	584			487			237			1,130			436			910			(45		)	NM	1,308			1,301			(1)%
Total	$	675		$	584		$	334		$	1,308		$	562		$	1,032		$	125		(63)%	$	1,593		$	1,719		8%
Capital Under Management (in billions):
Client	$	28.2		$	30.6		$	33.5		$	38.5		$	42.9		$	47.4		$	50.4		50%
Proprietary Investment Activities	11.1			11.3			10.2			10.7			10.8			11.8			11.6			14%
Capital Under Management	$	39.3		$	41.9		$	43.7		$	49.2		$	53.7		$	59.2		$	62.0		42%

(1)Includes Citigroup Venture Capital activities and certain other corporate investments.

NMNot meaningful

Reclassified to conform to the current period’s presentation.

31

CITIGROUP — RETURN ON CAPITAL (1)

	Average Risk Capital ($M) (2)						Return on Risk Capital						Return on Invested Capital
	Third		Second		Third		Third		Second		Third		Third		Second		Third
	Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
	2006		2007		2007		2006		2007		2007		2006		2007		2007
Global Consumer:
U.S. Cards	$	5,628	$	5,265	$	5,213	76	%	55	%	65	%	32	%	23	%	27	%
U.S. Retail Distribution	3,591		3,705		3,791		53	%	49	%	27	%	21	%	19	%	11	%
U.S. Consumer Lending	3,770		6,618		5,657		55	%	27	%	(16	)%	31	%	18	%	(11	)%
U.S. Commercial Business	2,323		2,633		2,559		26	%	23	%	19	%	13	%	12	%	10	%
Total U.S. Consumer	15,312		18,221		17,220		58	%	41	%	23	%	26	%	19	%	11	%
International Cards	2,185		2,927		3,300		52	%	48	%	78	%	24	%	22	%	35	%
International Consumer Finance	1,093		1,156		1,109		18	%	(2	)%	(114	)%	6	%	(1	)%	(39	)%
International Retail Banking	9,348		11,295		11,223		30	%	24	%	20	%	15	%	13	%	11	%
Total International Consumer	12,626		15,378		15,632		33	%	26	%	22	%	16	%	14	%	11	%
Other	—		—		—		—		—		—		—		—		—
Total Global Consumer	27,938		33,599		32,852		45	%	32	%	22	%	21	%	16	%	11	%
Markets & Banking:
Securities and Banking	20,450		25,912		29,985		26	%	33	%	(2	)%	19	%	26	%	(3	)%
Transaction Services	1,517		1,643		1,827		101	%	125	%	128	%	57	%	70	%	66	%
Other	—		—		—		—		—		—		—		—		—
Total Markets & Banking	21,967		27,555		31,812		31	%	41	%	6	%	23	%	32	%	3	%
Global Wealth Management:
Smith Barney	1,436		1,725		1,894		81	%	75	%	79	%	41	%	23	%	20	%
Private Bank	928		1,153		1,286		45	%	67	%	34	%	41	%	61	%	32	%
Total Global Wealth Management	2,364		2,878		3,180		67	%	72	%	61	%	41	%	30	%	22	%
Alternative Investments	3,975		4,034		4,309		12	%	46	%	(6	)%	8	%	42	%	(8	)%
Corporate / Other	144		3,533		4,145		NM		NM		NM		NM		NM		NM
Total Citigroup - Risk Capital (Continuing Operations) (2) (3)	$	56,388	$	71,599	$	76,298	37	%	35	%	12	%
Total Citigroup - Return on Invested Capital (Net Income) (2) (4)													19	%	20	%	7	%

(1)	Risk Capital is defined as the amount of capital needed to cover unexpected economic losses during extreme events. Return on Risk Capital is defined as income divided by Risk Capital. Return on Invested Capital is a similar calculation but includes adjustments for goodwill and intangibles in both the numerator and denominator, similar to those necessary to translate return on tangible equity to return on total equity. Return on Risk Capital and Return on Invested Capital are non-GAAP performance measures. Management believes Return on Risk Capital is useful to make incremental investment decisions and serves as a key metric for organic growth initiatives. Return on Invested Capital is used for multi-year investment decisions and as a long term performance measure.
(2)	Average Risk Capital is net of the cross-sector diversification. Average Invested Capital includes the difference between Tangible Equity and Risk Capital, which is also included in the Total Citigroup Return on Invested Capital.
(3)	On a Continuing Operations Basis.
(4)	Total Citigroup Return on Invested Capital equals Citigroup Return on Common Equity.
NM	Not meaningful
Reclassified to conform to the current period’s presentation.

32

AVERAGE BALANCES AND INTEREST RATES(1)(2)(3)(4)(5)

	Average Volumes						Interest						% Average Rate (4)
	Third		Second		Third		Third		Second		Third		Third		Second		Third
	Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter		Quarter
In millions of dollars	2006		2007		2007 (5)		2006		2007		2007 (5)		2006		2007		2007 (5)
Assets:
Deposits with Banks	$	37,508	$	55,580	$	62,833	$	590	$	792	$	874	6.24	%	5.72	%	5.52	%
Fed Funds Sold and Resale Agreements(6)	247,671		320,811		369,561		3,713		4,662		5,090		5.95	%	5.83	%	5.52	%
Trading Account Assets (7)	284,295		444,473		487,688		2,749		4,385		5,156		3.84	%	3.96	%	4.19	%
Investments(1)	218,997		281,342		259,814		2,606		3,577		3,357		4.72	%	5.10	%	5.13	%
Consumer Loans	485,658		541,617		561,039		11,134		12,284		12,747		9.10	%	9.10	%	9.01	%
Corporate Loans	158,816		183,620		202,349		3,256		3,969		4,650		8.13	%	8.67	%	9.12	%
Total Loans (net of Unearned Income)	644,474		725,237		763,388		14,390		16,253		17,397		8.86	%	8.99	%	9.04	%
Other Interest-Earning Assets	56,717		82,459		91,903		681		929		1,087		4.76	%	4.52	%	4.69	%
Total Average Interest-Earning Assets	$	1,489,662	$	1,909,902	$	2,035,187	$	24,729	$	30,598	$	32,961	6.59	%	6.43	%	6.43	%
Liabilities:
Deposits	$	601,728	$	686,985	$	720,975	$	5,771	$	6,939	$	7,539	3.81	%	4.05	%	4.15	%
Fed Funds Purchased and Repurchase Agreements (6)	281,084		386,005		428,281		4,396		5,912		6,431		6.20	%	6.14	%	5.96	%
Trading Account Liabilities (7)	73,245		121,088		117,854		301		380		371		1.63	%	1.26	%	1.25	%
Short-Term Borrowings	144,949		237,039		266,736		1,273		1,937		2,049		3.48	%	3.28	%	3.05	%
Long-Term Debt (8)	231,270		304,887		330,751		3,160		4,004		4,414		5.42	%	5.27	%	5.29	%
Total Average Interest-Bearing Liabilities	$	1,332,276	$	1,736,004	$	1,864,597	$	14,901	$	19,172	$	20,804	4.44	%	4.43	%	4.43	%
Net Interest Revenue as a % of Average Interest-Earning Assets (NIM)							$	9,828	$	11,426	$	12,157	2.62	%	2.40	%	2.37	%
3Q07 Increase (Decrease) From													(25	) bps	(3	) bps

(1)	Interest Revenue excludes the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 35%) of $14 million for the 2006 third quarter, $45 million for the 2007 second quarter and $34 million for the 2007 third quarter.
(2)	Citigroup Average Balances and Interest Rates include both domestic and international operations.
(3)	Monthly or quarterly averages have been used by certain subsidiaries where daily averages are unavailable.
(4)	Average Rate % is calculated as annualized interest over average volumes.
(5)	Preliminary
(6)	Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of FIN 41.
(7)	Interest expense on trading account liabilities of Markets and Banking is reported as a reduction of interest revenue. Interest revenue and interest expense on cash collateral positions are reported in trading account assets and trading account liabilities, respectively.
(8)	Excludes hybrid financial instruments and beneficial interests in consolidated VIEs that are classified as long-term debt as these obligations are accounted for at fair value with changes recorded in Principal Transactions.
Reclassified to conform to the current period’s presentation.

33

CONSUMER LOAN DELINQUENCY AMOUNTS, NET CREDIT LOSSES AND RATIOS
(In millions of dollars, except loan amounts in billions)

										EOP											Average
	90 Days Or More Past Due (1)									Loans		Net Credit Losses (1)									Loans
	3Q06			2Q07			3Q07			3Q07		3Q06			2Q07			3Q07			3Q07
PRODUCT VIEW:
U.S.:
U.S. Cards	$	736		$	549		$	625		$	34.9	$	456		$	408		$	399		$	36.1
Ratio	1.80		%	1.52		%	1.79		%			4.22		%	4.39		%	4.39		%
U.S. Retail Distribution	780			830			991			55.3		282			360			388			53.6
Ratio	1.69		%	1.60		%	1.79		%			2.48		%	2.86		%	2.87		%
U.S. Consumer Lending	2,556			3,508			4,426			229.2		193			289			417			225.7
Ratio	1.26		%	1.58		%	1.93		%			0.38		%	0.52		%	0.73		%
U.S. Commercial Business	191			140			166			38.8		8			33			13			38.0
Ratio	0.54		%	0.37		%	0.43		%			0.09		%	0.36		%	0.14		%
International:
International Cards	723			950			964			43.4		347			397			594			41.9
Ratio	2.57		%	2.32		%	2.22		%			5.01		%	4.22		%	5.62		%
International Consumer Finance	575			612			609			26.4		389			437			481			25.9
Ratio	2.37		%	2.43		%	2.30		%			6.38		%	6.93		%	7.37		%
International Retail Banking	679			658			739			83.1		141			168			262			81.4
Ratio	1.04		%	0.83		%	0.89		%			0.87		%	0.87		%	1.28		%
Global Wealth Management	10			6			31			54.8		—			—			—			53.1
Ratio	0.02		%	0.01		%	0.06		%			0.00		%	0.00		%	0.00		%
Other Consumer Loans	—			—			—			3.0		(1		)	—			—			3.0
On-Balance Sheet Loans (2)	$	6,250		$	7,253		$	8,551		$	568.9	$	1,815		$	2,092		$	2,554		$	558.7
Ratio	1.29		%	1.32		%	1.50		%			1.49		%	1.56		%	1.81		%
Securitized Receivables (all in U.S. Cards)	1,519			1,469			1,595			104.0		1,051			1,157			1,174			101.0
Loans Held-for-Sale	—			36			40			3.0		1			—			—			3.0
Managed Loans (3)	$	7,769		$	8,758		$	10,186		$	675.9	$	2,867		$	3,249		$	3,728		$	662.7
Ratio	1.33		%	1.34		%	1.51		%			1.96		%	2.04		%	2.23		%
REGIONAL VIEW:
U.S.	$	4,273		$	5,032		$	6,234		$	394.7	$	937		$	1,091		$	1,217		$	388.6
Ratio	1.20		%	1.32		%	1.58		%			1.05		%	1.15		%	1.24		%
Mexico	600			571			604			18.5		128			133			206			18.2
Ratio	3.90		%	3.15		%	3.26		%			3.33		%	3.00		%	4.48		%
Europe, Middle East and Africa (EMEA)	573			719			725			62.6		221			288			420			62.1
Ratio	1.43		%	1.21		%	1.16		%			2.18		%	2.08		%	2.68		%
Japan	231			220			226			10.5		286			312			335			10.5
Ratio	1.99		%	1.86		%	2.15		%			9.65		%	10.33		%	12.62		%
Asia (excluding Japan)	453			438			474			71.5		174			186			195			68.8
Ratio	0.78		%	0.65		%	0.66		%			1.21		%	1.13		%	1.13		%
Latin America	120			273			288			11.1		69			82			181			10.5
Ratio	2.07		%	2.76		%	2.59		%			4.85		%	3.55		%	6.84		%
On-Balance Sheet Loans (2)	$	6,250		$	7,253		$	8,551		$	568.9	$	1,815		$	2,092		$	2,554		$	558.7
Ratio	1.29		%	1.32		%	1.50		%			1.49		%	1.56		%	1.81		%
Securitized Receivables (all in U.S. Cards)	1,519			1,469			1,595			104.0		1,051			1,157			1,174			101.0
Loans Held-for-Sale	—			36			40			3.0		1			—			—			3.0
Managed Loans (3)	$	7,769		$	8,758		$	10,186		$	675.9	$	2,867		$	3,249		$	3,728		$	662.7
Ratio	1.33		%	1.34		%	1.51		%			1.96		%	2.04		%	2.23		%

(1)	The ratios of 90 days or more past due and net credit losses are calculated based on end-of-period and average loans, respectively, both net of unearned income.
(2)	Total Loans and Total Average Loans exclude certain interest and fees on credit cards of approximately $2 billion and $2 billion, respectively, which are included in Consumer Loans on the Consolidated Balance Sheet.
(3)	This table presents consumer credit information on a held basis and shows the impact of securitizations to reconcile to a managed basis.  Only U.S. Cards from a product view and North America from a regional view are impacted. Managed basis reporting is a non-GAAP measure. Held basis reporting is the related GAAP measure. For a discussion of managed basis reporting see Note 2 to the Cards business on page 10.
Reclassified to conform to the current period’s presentation.

34

ALLOWANCE FOR CREDIT LOSSES
TOTAL CITIGROUP
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period	$	9,782		$	9,505		$	9,144		$	8,979		$	8,940		$	9,510		$	10,381			$	9,782		$	8,940
Gross Credit (Losses)	(2,183		)	(2,354		)	(2,362		)	(2,642		)	(2,667		)	(2,662		)	(3,091		)	(31)%	(6,899		)	(8,420		)	(22)%
Gross Recoveries	583			558			556			500			558			607			505			(9)%	1,697			1,670			(2)%
Net Credit (Losses) / Recoveries (NCL’s)	(1,600		)	(1,796		)	(1,806		)	(2,142		)	(2,109		)	(2,055		)	(2,586		)	(43)%	(5,202		)	(6,750		)	(30)%
NCL’s	1,600			1,796			1,806			2,142			2,109			2,055			2,586			43%	5,202			6,750			30%
Reserve Releases (1)	(301		)	(442		)	(336		)	(175		)	(67		)	(23		)	—			100%	(1,079		)	(90		)	92%
Reserve Builds (1)	150			185			322			153			646			545			2,043			NM	657			3,234			NM
Specific Reserve Releases / Utilizations	(81		)	(87		)	(15		)	(17		)	(28		)	(66		)	(48		)	NM	(183		)	(142		)	22%
Specific Reserve Builds	6			11			13			21			43			—			197			NM	30			240			NM
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	22			(27		)	3			(11		)	3			9			(2		)	NM	(2		)	10			NM
Provision for Loan Losses	1,396			1,436			1,793			2,113			2,706			2,520			4,776			NM	4,625			10,002			NM
Other (2)	(73		)	(1		)	(152		)	(10		)	(27		)	406			157				(226		)	536			NM
Allowance for Loan Losses at End of Period (a)	$	9,505		$	9,144		$	8,979		$	8,940		$	9,510		$	10,381		$	12,728			$	8,979		$	12,728
Corporate Allowance for Unfunded Lending Commitments (3) (a)	$	900		$	1,050		$	1,100		$	1,100		$	1,100		$	1,100		$	1,150			$	1,100		$	1,150
Provision for Unfunded Lending Commitments	$	50		$	150		$	50		$	—		$	—		$	—		$	50			$	250		$	50
Total Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]	$	10,405		$	10,194		$	10,079		$	10,040		$	10,610		$	11,481		$	13,878			$	10,079		$	13,878
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Loans	1.72		%	1.60		%	1.54		%	1.48		%	1.53		%	1.55		%	1.79		%

(1)	Allowance for Credit Losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.
(2)	Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc.  The significant items reported on this line for the periods presented include:
	—  For the 2007 third quarter, reductions to the credit loss reserves of $73 million related to securitizations.  Additionally includes adjustments for purchase accounting relating to the acquisition of Grupo Cuscatlan of $181 million.
	—  For the 2007 second quarter, reductions to the credit loss reserves of $70 million related to securitizations and $77 million related to transfers to loans held-for-sale, and the addition of $505 million related to the acquisition of Egg and Nikko.
	—  For the 2007 first quarter, reductions to the credit loss reserves of $98 million related to securitizations and transfers to loans held-for-sale, and the addition of $75 million related to the acquisition of Grupo Financiero Uno.
	—  For the 2006 fourth quarter, reductions to the credit loss reserves of $74 million related to securitizations.
	—  For the 2006 third quarter, reductions to the credit loss reserves of $140 million related to securitizations and portfolio sales.
	—  For the 2006 second quarter, reductions to the credit loss reserves of $125 million related to securitizations, and the addition of $84 million related to the acquisition of the Credicard portfolio.
	—  For the 2006 first quarter, reductions to the credit loss reserves of $90 million related to securitizations.
(3)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
NM Not meaningful

35

ALLOWANCE FOR CREDIT LOSSES
CONSUMER LOANS(1)
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period	$	6,922		$	6,647		$	6,311		$	6,087		$	6,006		$	6,338		$	7,206			$	6,922		$	6,006
Gross Credit (Losses)	(2,142		)	(2,235		)	(2,318		)	(2,532		)	(2,632		)	(2,610		)	(2,999		)	(29)%	(6,695		)	(8,241		)	(23)%
Gross Recoveries	509			481			503			472			500			518			445			(12)%	1,493			1,463			(2)%
Net Credit (Losses) / Recoveries (NCL’s)	(1,633		)	(1,754		)	(1,815		)	(2,060		)	(2,132		)	(2,092		)	(2,554		)	(41)%	(5,202		)	(6,778		)	(30)%
NCL’s	1,633			1,754			1,815			2,060			2,132			2,092			2,554			41%	5,202			6,778			30%
Reserve Releases (2)	(301		)	(442		)	(336		)	(175		)	(67		)	(23		)	—			100%	(1,079		)	(90		)	92%
Reserve Builds (2)	150			110			247			153			346			545			2,043			NM	507			2,934			NM
Specific Reserve Releases / Utilizations	(36		)	(3		)	—			(11		)	(5		)	(31		)	(10		)	—	(39		)	(46		)	(18)%
Specific Reserve Builds	—			7			10			1			37			—			36			NM	17			73			NM
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	—			—			—			—			—			—			—			—	—			—			—
Provision for Loan Losses	1,446			1,426			1,736			2,028			2,443			2,583			4,623			NM	4,608			9,649			NM
Other (3)	(88		)	(8		)	(145		)	(49		)	21			377			(75		)		(241		)	323			NM
Allowance for Loan Losses at End of Period	$	6,647		$	6,311		$	6,087		$	6,006		$	6,338		$	7,206		$	9,200			$	6,087		$	9,200
Net Consumer Credit (Losses) as a Percentage of Average Consumer Loans	1.46		%	1.48		%	1.49		%	1.64		%	1.69		%	1.56		%	1.81		%
Consumer Allowance for Credit Losses As a Percentage of Total Consumer Loans	1.44		%	1.31		%	1.25		%	1.17		%	1.22		%	1.31		%	1.61		%

(1)	Includes loans made to Global Wealth Management clients.
(2)	Allowance for Credit Losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.
(3)	Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc.  The significant items reported on this line for the periods presented include:
	—  For the 2007 third quarter, reductions to the credit loss reserves of $73 million related to securitizations.
	—  For the 2007 second quarter, reductions to the credit loss reserves of $70 million related to securitizations and $77 million related to transfers to loans held-for-sale, and the addition of $505 million related to the acquisition of Egg and Nikko.
	—  For the 2007 first quarter, reductions to the credit loss reserves of $98 million related to securitizations and transfers to loans held-for-sale, and the addition of $75 million related to the acquisition of Grupo Financiero Uno.  The 2007 first quarter also includes $41million related to the reorganization of the KorAm loan portfolio.
	—  For the 2006 fourth quarter, reductions to the credit loss reserves of $74 million related to securitizations.
	—  For the 2006 third quarter, reductions to the credit loss reserves of $140 million related to securitizations and portfolio sales.
	—  For the 2006 second quarter, reductions to the credit loss reserves of $125 million related to securitizations, and the addition of $84 million related to the acquisition of the Credicard portfolio.
	—  For the 2006 first quarter, reductions to the credit loss reserves of $90 million related to securitizations.
NM	Not meaningful

36

ALLOWANCE FOR CREDIT LOSSES
CORPORATE LOANS(1)
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
Allowance for Loan Losses at Beginning of Period	$	2,860		$	2,858		$	2,833		$	2,892		$	2,934		$	3,172		$	3,175			$	2,860		$	2,934
Gross Credit (Losses)	(41		)	(119		)	(44		)	(110		)	(35		)	(52		)	(92		)	NM	(204		)	(179		)	12%
Gross Recoveries	74			77			53			28			58			89			60			13%	204			207			1%
Net Credit (Losses) / Recoveries (NCL’s)	33			(42		)	9			(82		)	23			37			(32		)	NM	—			28			—
NCL’s	(33		)	42			(9		)	82			(23		)	(37		)	32			NM	—			(28		)	—
Reserve Releases (2)	—			—			—			—			—			—			—			—	—			—			—
Reserve Builds (2)	—			75			75			—			300			—			—			(100)%	150			300			100%
Specific Reserve Releases / Utilizations	(45		)	(84		)	(15		)	(6		)	(23		)	(35		)	(38		)	NM	(144		)	(96		)	33%
Specific Reserve Builds	6			4			3			20			6			—			161			—	13			167			NM
Build(Release/Utilization)for Purchased Distressed Loan Portfolios	22			(27		)	3			(11		)	3			9			(2		)	NM	(2		)	10			NM
Provision for Loan Losses	(50		)	10			57			85			263			(63		)	153			NM	17			353			NM
Other (3)	15			7			(7		)	39			(48		)	29			232				15			213			NM
Allowance for Loan Losses at End of Period (a)	$	2,858		$	2,833		$	2,892		$	2,934		$	3,172		$	3,175		$	3,528			$	2,892		$	3,528
Net Corporate Credit (Losses) as a Percentage of Average Corporate Loans	NM			0.03		%	NM			0.05		%	NM			NM			0.02		%
Corporate Allowance for Credit Losses As a Percentage of Total Corporate Loans	2.00		%	1.81		%	1.73		%	1.76		%	1.82		%	1.66		%	1.74		%
Corporate Allowance for Unfunded Lending Commitments (4) (a)	$	900		$	1,050		$	1,100		$	1,100		$	1,100		$	1,100		$	1,150			$	1,100		$	1,150
Provision for Unfunded Lending Commitments	$	50		$	150		$	50		$	—		$	—		$	—		$	50			$	250		$	50
Total Corporate Allowance for Loans, Leases and Unfunded Lending Commitments [Sum of (a)]	$	3,758		$	3,883		$	3,992		$	4,034		$	4,272		$	4,275		$	4,678			$	3,992		$	4,678
Total Allowance for Loans, Leases and Unfunded Lending Commitments as a Percentage of Total Corporate Loans	2.62		%	2.48		%	2.39		%	2.43		%	2.45		%	2.23		%	2.30		%

(1)	Includes Loans related to the Alternative Investments and Corporate / Other segments.
(2)	Allowance for Credit Losses represents management’s estimate of probable losses inherent in the portfolio.  Attribution of the allowance is made for analytical purposes only, and the entire allowance is available to absorb probable credit losses inherent in the portfolio.
(3)	Includes all adjustments to the Allowance for Credit Losses, such as changes in the allowance from acquisitions, securitizations, foreign exchange translation, purchase accounting adjustments, etc.  The significant items reported on this line for the periods presented include:
	—  The 2007 first quarter includes the reclassification to Consumer Loans of $41 million related to the reorganization of the KorAm loan portfolio.
	—  The 2007 second quarter includes the acquisition of Grupo Cuscatlan of $18 million.
	—  The 2007 third quarter includes adjustments for purchase accounting relating to the acquisition of Grupo Cuscatlan of $181 million and the transfer of units into Markets & Banking that were previously held as Consumer of $43 million.
(4)	Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
NM	Not meaningful

37

CITIGROUP — COMPONENTS OF PROVISION FOR LOAN LOSSES

(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007			3Q07 vs. 3Q06 Increase/ (Decrease)	Nine Months 2006			Nine Months 2007			YTD 2007 vs. YTD 2006 Increase/ (Decrease)
U.S. Cards
Net Credit Losses	$	446		$	447		$	456		$	439		$	439		$	408		$	399		(13)%	$	1,349		$	1,246		(8)%
Credit Reserve Build / (Release)	(72		)	(160		)	(122		)	(37		)	(44		)	224			134			NM	(354		)	314			NM
U.S. Retail Distribution
Net Credit Losses	279			288			282			337			335			360			388			38%	849			1,083			28%
Credit Reserve Build / (Release)	(55		)	(31		)	(29		)	(59		)	(1		)	—			299			NM	(115		)	298			NM
U.S. Consumer Lending
Net Credit Losses	176			160			193			258			286			289			417			NM	529			992			88%
Credit Reserve Build / (Release)	(31		)	(75		)	(8		)	(13		)	217			39			854			NM	(114		)	1,110			NM
U.S. Commercial Business
Net Credit Losses	14			12			8			23			19			33			13			63%	34			65			91%
Credit Reserve Build / (Release)	(38		)	(8		)	(38		)	(18		)	10			(18		)	9			NM	(84		)	1			NM
International Cards
Net Credit Losses	218			333			347			402			384			397			594			71%	898			1,375			53%
Credit Reserve Build / (Release)	94			26			59			87			22			201			334			NM	179			557			NM
International Consumer Finance
Net Credit Losses	319			323			389			380			430			437			481			24%	1,031			1,348			31%
Credit Reserve Build / (Release)	(16		)	17			135			25			26			30			252			87%	136			308			NM
International Retail Banking
Net Credit Losses	184			191			141			221			238			168			262			86%	516			668			29%
Credit Reserve Build / (Release)	(77		)	(105		)	(93		)	(12		)	64			5			131			NM	(275		)	200			NM
Global Wealth Management:
Smith Barney
Net Credit Losses	—			—			—			—			—			—			—			—	—			—			—
Credit Reserve Build / (Release)	1			(1		)	(1		)	1			—			1			1			NM	(1		)	2			NM
Private Bank
Net Credit Losses	(4		)	—			—			—			—			—			—			—	(4		)	—			100%
Credit Reserve Build / (Release)	8			9			17			(6		)	17			11			55			NM	34			83			NM
Other	—			—			—			—			1			(2		)	—			—	—			(1		)	—
Consumer Provision for Loan Losses	1,446			1,426			1,736			2,028			2,443			2,583			4,623			NM	4,608			9,649			NM
Markets & Banking:
Securities and Banking
Net Credit Losses	(34		)	37			(11		)	70			(28		)	(37		)	30			NM	(8		)	(35		)	NM
Credit Reserve Build / (Release)	(17		)	(18		)	61			3			286			(19		)	121			98%	26			388			NM
Transaction Services
Net Credit Losses	1			18			2			6			5			1			4			100%	21			10			(52)%
Credit Reserve Build / (Release)	—			(14		)	5			—			—			(7		)	—			(100)%	(9		)	(7		)	22%
Other	—			—			—			—			—			—			—			—	—			—			—
Alternative Investments
Net Credit Losses	—			(13		)	—			—			1			—			(1		)	—	(13		)	—			100%
Corporate / Other
Net Credit Losses	—			—			—			6			(1		)	(1		)	(1		)	—	—			(3		)	—
Corporate Provision for Loan Losses	(50		)	10			57			85			263			(63		)	153			NM	17			353			NM
Total Provision for Loan Losses	$	1,396		$	1,436		$	1,793		$	2,113		$	2,706		$	2,520		$	4,776		NM	$	4,625		$	10,002		NM

NM  Not meaningful

Reclassified to conform to the current period’s presentation.

38

NON-PERFORMING ASSETS
(In millions of dollars)

	1Q 2006			2Q 2006			3Q 2006			4Q 2006			1Q 2007			2Q 2007			3Q 2007
CASH-BASIS AND RENEGOTIATED LOANS
Corporate Cash-Basis Loans
Collateral Dependent (at lower of cost or collateral value)	$	—		$	—		$	15		$	19		$	19		$	11		$	11
Other	821			799			677			516			481			588			1,207
Total Corporate Cash-Basis Loans (1)	$	821		$	799		$	692		$	535		$	500		$	599		$	1,218
Corporate Cash-Basis Loans
JENA (2)	$	151		$	249		$	218		$	128		$	118		$	204		$	841
Other International (3)	670			550			474			407			382			395			377
Total Corporate Cash-Basis Loans (1)	$	821		$	799		$	692		$	535		$	500		$	599		$	1,218
Corporate Cash-Basis Loans as a % of Total Corporate Loans (1)	0.57		%	0.51		%	0.42		%	0.32		%	0.29		%	0.31		%	0.60		%
Total Consumer Cash-Basis Loans (1)	$	3,752		$	3,857		$	4,189		$	4,512		$	4,578		$	5,160		$	6,137
Renegotiated Loans (includes Corporate and Commercial Business Loans)	$	30		$	23		$	23		$	22		$	26		$	27		$	56
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS
Consumer	$	322		$	324		$	356		$	385		$	461		$	516		$	594
Markets & Banking	144			171			193			316			348			219			348
TOTAL OTHER REAL ESTATE OWNED (4)	$	466		$	495		$	549		$	701		$	809		$	735		$	942
OTHER REPOSSESSED ASSETS (5)	$	52		$	53		$	62		$	75		$	77		$	66		$	86

(1)	Excludes purchased distressed loans.  The carrying value of these loans was: $1,217 million at March 31, 2006, $1,171 million at June 30, 2006, $1,089 million at September 30, 2006, $949 million at December 31, 2006, $957 million at March 31, 2007, $1,013 million at June 30, 2007 and $1,188 at September 30, 2007.
(2)	JENA includes Japan, Western Europe and North America.
(3)	Other International includes Asia (excluding Japan), Mexico, Latin America, Central and Eastern Europe, the Middle East and Africa.
(4)	Represents repossessed real estate, carried at lower of cost or fair value, less costs to sell.
(5)	Primarily transportation equipment, carried at lower of cost or fair value, less costs to sell.

39