SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

Litigation Release No. 17153 / September 27, 2001

Civil Action No. 01 CV 8726 (GBD) (S.D.N.Y.) (filed September 27, 2001)

SEC Files Settled Insider Trading Action Against Former Citibank Attorney

   The Commission today filed a complaint in the United States District
   Court for the Southern District of New York against David K. Tomney, a
   former Vice President and attorney in the corporate tax group of
   Citibank, N.A. ("Citibank"). The Commission's complaint alleges that
   Tomney engaged in insider trading in the securities of Associates
   First Capital Corp. ("AFS") prior to the September 6, 2000
   announcement that Citigroup Inc., Citibank's parent company, had
   agreed to purchase AFS in a transaction valued at $31.1 billion.

   The Commission's complaint specifically alleges that the day before
   the public announcement, Tomney obtained material, nonpublic
   information concerning Citigroup's planned acquisition of AFS while
   attending meetings with senior Citibank executives. Among other
   things, Tomney was told that Citigroup was then considering an
   acquisition, that a board meeting would be convened later that day and
   that, if all went well, the acquisition would be announced the next
   day. According to the complaint, immediately following these meetings,
   Tomney, while in possession of this material, nonpublic information,
   purchased 1000 shares of AFS through his Citibank brokerage account.
   When the merger was announced the next day, AFS stock closed at $38.63
   per share, representing an increase of approximately 38 percent over
   the previous day's closing price. That same day, September 6, 2000,
   Tomney sold all of his AFS stock and made a profit of $11,562.50.

   Simultaneously with the filing of the complaint, Tomney, without
   admitting or denying the allegations in the complaint, consented to
   the entry of a final judgment permanently enjoining him from violating
   Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act")
   and Rule 10b-5 thereunder. The judgment also requires Tomney to pay a
   total of $23,562.50, including disgorgement of profits of $11,562.50,
   prejudgment interest of $437.50, and a civil penalty pursuant to
   Section 21A of the Exchange Act of $11,562.50.

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Modified 09/27/2001