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Letter to the Editor

Citigroup Completes Travelers Spin-Off

Citigroup Inc. has distributed approximately 670 million shares of stock in Travelers, its former subsidiary, to Citigroup stockholders, completing the spin-off of its property/casualty operations.

Travelers Property Casualty Corp. is now a public company in its own right, trading on the New York Stock Exchange, symbol TAPa. Travelers aims for more freedom and flexibility to pursue its goals.

Citigroup will still hold just under ten percent of Travelers' shares. None of Citigroup's directors or officers will serve as directors or officers in the subsidiary so long as the parent retains any stock or securities.

The Travelers stock's IPO opening price was $18.50 per share.

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