Citibank -West-, FSB, Issues Announcement Regarding its CALGZs

Citibank (West), FSB, announced that, on May 4, 2005,
it received a notice from NASDAQ regarding its Contingent Litigation
Recovery Participation Interests (CALGZs). The CALGZs are securities
that entitle holders to a percentage interest in the cash recovery, if
any, after certain deductions, in a 1992 lawsuit brought by California
Federal Bank, a predecessor of Citibank (West), FSB. The lawsuit is
California Federal Bank v. The United States of America, Civil Action
No. 92-138C filed on February 28, 1992, in the United States Court of
Federal Claims. The notice stated that the CALGZs have not maintained
a minimum market value of publicly-held units of $1 million as
required by Marketplace Rule 4450(c). NASDAQ will notify the Bank that
the CALGZs will be delisted unless the market value of the
publicly-held CALGZs has been at least $1 million for a minimum of ten
consecutive trading days by August 2, 2005. At May 5, 2005, the
closing price of a CALGZ on NASDAQ was $0.04 and there were 5,077,323
outstanding CALGZs.

   Citibank (West), FSB, is a member of Citigroup (NYSE:C), the
leading global financial services company, which 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, insurance,
securities brokerage, and asset management. Major brand names under
Citigroup's trademark red umbrella include Citibank, CitiFinancial,
Primerica, Smith Barney, Banamex, and Travelers Life and Annuity.
Additional information may be found at www.citigroup.com.