TRAVELERS GROUP 401(k) SAVINGS PLAN
* Schedules required by Line 27 of IRS Form 5500 which are not applicable have not been included.
Independent Auditors' Report
To the Plans Administration Committee of Citigroup Inc.:
We have audited the accompanying statements of net assets available for plan benefits of Travelers Group 401(k)
Savings Plan (the "Plan") as of December 31, 1998 and 1997, and the related statements of changes in net assets
available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan
Administrator. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by the Plan Administrator, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets
available for plan benefits as of December 31, 1998 and 1997, and the changes in net assets available for plan
benefits for the years then ended in conformity with generally accepted accounting principles.
Our December 31, 1998 audit was performed for the purpose of forming an opinion on the basic financial
statements taken as a whole. The supplemental schedules of assets held for investment purposes at December
31, 1998 and schedule of reportable transactions for the year ended December 31, 1998 are presented for the
purpose of additional analysis and are not a required part of the basic financi