Wachovia and Wells Fargo Merge

[Clandestino]

So CNBC says.

[I. Hustle]

More work for me.

[I Love Me Some Me]

Sucks for you, Citibank.

[Spurminator]

For Immediate Release
Citigroup Inc. (NYSE: C)
October 3, 2008
CITI STATEMENT ON WACHOVIA’S BREACH
OF EXCLUSIVITY AGREEMENT

NEW YORK – Citi today issued the following statement:
Wachovia’s agreement to a transaction with Wells Fargo is in clear breach of an
Exclusivity Agreement between Citi and Wachovia. In addition, Wells Fargo’s
conduct constitutes tortious interference with the Exclusivity Agreement.
The Exclusivity Agreement provides, among other things, that Wachovia will not
enter into any transaction with any party other than Citi, and will not participate in
any discussions or negotiations with any third party. The Exclusivity Agreement
also provides that the parties would be irreparably harmed by any breach of the
agreement and that the remedy of specific performance of the agreement is
appropriate.

Citi was negotiating in good faith and nearly completed the definitive agreements
required to consummate the Citi/Wachovia transaction that was announced on
Monday. The value of the Citi agreement to Wachovia shareholders was
substantially in excess of Wachovia’s closing price on Thursday, October 2nd.
Citi has also been providing liquidity support to Wachovia Bank since Monday’s
announcement.

Citi has demanded that Wachovia and Wells Fargo terminate and not proceed
with any proposed transaction, any conduct in furtherance thereof, or any other
act in violation of the Exclusivity Agreement. Citi has substantial legal rights
regarding Wachovia and this transaction.

With or without this transaction, Citi maintains an unmatched, globally dominant
franchise with strong liquidity, total deposits exceeding $800 billion and a Tier 1
capital ratio of 8.7% as of the second quarter.

Citi
Citi, 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.
Citi's major brand names include Citibank, CitiiFinancial, Primerica, Smith Barney, Banamex, and
Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
2

Forward-Looking Statements
Certain statements in this document are “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act. These statements are based on management's current
expectations and are subject to uncertainty and changes in circumstances. Actual results may
differ materially from those included in these statements due to a variety of factors. More
information about these factors is contained in Citi's filings with the Securities and Exchange
Commission.

Media Contacts:
Christina Pretto (212) 559-9560
Shannon Bell (212) 793-6206
Michael Hanretta (212) 559-9466
Investors:
Scott Freidenrich (212) 559-2718
Fixed Income Investors:
Maurice Raichelson (212) 559-5091

[I. Hustle]

:lol

[Viva Las Espuelas]

they're building one right down the street from where i live. what happens in that case?

[I Love Me Some Me]

they're building one right down the street from where i live. what happens in that case?

The acquiring bank (whether it be Citibank or Wells) decides whether to re-brand the branch, or to shut it down altogether.

[Viva Las Espuelas]

The acquiring bank (whether it be Citibank or Wells) decides whether to re-brand the branch, or to shut it down altogether.
wow, and it's a big, nice looking building. the wachovia sign is already mounted on the building. i need to post a pic of it here.

[I. Hustle]

Wells Fargo is going to take over. There is no way Citi will end up with Wachovia. They will agree to something and give it up to Wells.

[I. Hustle]

HA HA BITCHES. Citigroup backed out like some bitches.

[tonylongoriafan]

wells fargo...moving up!