CALGZ Citibank (West), Fsb - Contingent Litigation Recovery (MM)

Citibank (West), FSB, announced that, on August 3, 2005, it received a NASDAQ Staff Determination Letter regarding its Contingent Litigation Recovery Participation Interests (NASDAQ:CALGZ). The NASDAQ letter stated that the CALGZs will be delisted from the NASDAQ National Market at the opening of business on August 12, 2005, due to the aggregate market value of the CALGZs failing to meet the market value of publicly held shares requirement for continued listing set forth in Marketplace Rule 4450(c). 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 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. Citibank (West), FSB, is a member of Citigroup (NYSE:C). Citigroup, 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. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.