FOR IMMEDIATE RELEASE
November 30, 2000
Citigroup Successfully Completes Acquisition of Associates First Capital Corporation
New York, NY —
Citigroup Inc. (NYSE: C) and Associates First Capital Corporation ("Associates") today announced the completion of Citigroup's acquisition of Associates. The acquisition was consummated through a merger of Associates with a subsidiary of Citigroup pursuant to which each share of Associates common stock has become a right to receive .7334 of a share of common shares of Citigroup. The acquisition followed the approval by Associates' shareholders and the approval by certain domestic and foreign antitrust, banking and insurance regulators.
# # #
Citigroup (NYSE: C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in over 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial and Primerica under Citigroup's trademark red umbrella. Additional information may be found at www.citigroup.com
Associates, established in 1918, is a leading diversified finance company providing consumer and commercial finance, leasing, insurance and related services worldwide. Associates, headquartered in Dallas, has operations in the United States and 14 international markets. For more information, visit Associates Web sites at www.theassociates.com
Media:
Leah Johnson
212-559-9446
Analysts:
Sheri Ptashek
212-559-4658
