Citigroup Establishes New Platform

On July 21, 2003, Citigroup Finance Canada Inc., formerly Associates Capital Corporation of Canada, a wholly owned subsidiary of Citicorp, filed a base shelf prospectus in all the provinces and territories of Canada to renew its medium term note programme by qualifying the issuance of up to $4 billion in medium term notes. The notes are guaranteed by Citicorp, a wholly owned subsidiary of Citigroup. The proceeds from the issuance of notes will be used by Citigroup to finance its Canadian commercial and financial services business.

Citigroup Finance Canada and Citicorp were represented in-house by Kevin Murray, vice-president and treasurer, and Aldis Birkans, vice-president and assistant treasurer, Citigroup Finance Canada, and by in-house U.S. counsel John Dye, Citigroup; and working under their guidance was Blake, Cassels & Graydon LLP, with a team that included David Toswell, Brendan Reay, Chris Javornik, James Clarke and John Bursic (corporate/securities), Leslie Morgan and Bryan Bailey (tax) and John Teolis (financial services).

The notes will be sold through a syndicate of agents led by TD Securities Inc. The agents were represented by Osler, Hoskin & Harcourt LLP, with a team that included Steven Smith and Lynne Woollcombe (corporate/securities) and Julie Colden (tax).