AFSCME Demands Accountability at Citigroup

Union urges Vote No on board members

WASHINGTON, April 20 /PRNewswire-USNewswire/ -- At Citigroup's Annual Meeting
on Tuesday, April 21, the American Federation of State, County and Municipal
Employees Pension Plan will urge shareholders to VOTE NO on the re-election of
long-term members of the Audit & Risk Management Committee. Members of the
committee include C. Michael Armstrong, Alain Belda, John Deutch, Andrew
Liveris, Anne Mulcahy and Judith Rodin.

"Citi's board failed to effectively manage risk, helping cause the company's
current instability," said AFSCME President Gerald W. McEntee. "The
accountability for risk management begins and ends with the committee. These
members have to go."

Citigroup, the largest recipient to date of the U.S. government bank bailout,
suffered extraordinary losses due to the risky assets on its balance sheets
which led to a tremendous loss in shareholder value. During the tenure of the
Audit & Risk Management Committee there was a failure to protect shareholders
from excessive exposure to credit, market, liquidity and operational risk.

"The committee failed to properly assess and control risks and protect
shareholders. They are responsible for the need for government intervention,"
added McEntee. "Citi needs a fresh start. It's time for these long-time
culpable directors to leave so that we can begin rebuilding the brand and
credibility of this financial institution."

AFSCME's Vote NO campaign has gained significant momentum among shareholder
advisory companies. RiskNetrics Group Inc., Egan-Jones, Glass Lewis and Proxy
Governance are also recommending that Citigroup Inc. shareholders vote against
electing some current and former Audit & Risk Management committee members,
citing poor risk oversight.

AFSCME is the largest union for workers in public service with 1.6 million
members nationwide. AFSCME members' retirement assets are invested by public
pension systems, with combined assets totaling more than $1 trillion.

AFSCME's 1.6 million members provide the vital services that make America
happen. With members in hundreds of different occupations - from nurses to
corrections officers, child care providers to sanitation workers - AFSCME
advocates for fairness in the workplace, excellence in public services and
prosperity and opportunity for all working families.

SOURCE American Federation of State County and Municipal Employees

Cheryl Kelly of AFSCME, +1-202-429-1145