Document:

<PAGE>

                                                                    Exhibit 4.02

          This Note is a Global Security within the meaning of the Indenture
hereinafter referred to and is registered in the name of the Depository named
below or a nominee of the Depository. This Note is not exchangeable for Notes
registered in the name of a Person other than the Depository or its nominee
except in the limited circumstances described herein and in the Indenture, and
no transfer of this Note (other than a transfer of this Note as a whole by the
Depository to a nominee of the Depository or by a nominee of the Depository to
the Depository or another nominee of the Depository) may be registered except in
the limited circumstances described herein.

          Unless this certificate is presented by an authorized representative
of The Euroclear System or Clearstream Banking, societe anonyme (each a
"Depository"), to the Company or its agent for registration of transfer,
exchange, or payment, and any certificate issued is registered in the name of
Citivic Nominees Limited or in such other name as is requested by an authorized
representative of the Depository (and any payment is made to Citivic Nominees
Limited or to such other entity as is requested by an authorized representative
of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Citivic Nominees Limited, has an interest herein.

                                 CITIGROUP INC.

REGISTERED                                                            REGISTERED

                                                              CUSIP: 99390P 9B 2
                                                              ISIN: XS0233761138
                                                          Common Code: 023376113

No. R-0002-INT                                              up to Y_____________

          CITIGROUP INC., a Delaware corporation (the "Company", which term
includes any successor Person under the Indenture), for value received, hereby
promises to pay to Citivic Nominees Limited, or registered assigns, the
principal sum of up to Y____________ (or such other principal sum as has been
most lately endorsed on the Schedule of Exchanges of Interests hereto) on
October 31, 2025 and to pay interest thereon from and including October 31, 2005
or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, in equal amounts semi-annually on April 30 and October 31 of
each year, commencing May 1, 2006, at the rate of 2.40% per annum, in the amount
of Yen 1,200 per each Yen 100,000 principal amount of this Note, on each
Interest Payment Date, until the principal hereof is paid or made available for
payment. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in the Indenture, be paid to the
Person in whose name this Note is registered at the close of business on the
Record Date for such interest, which shall be the April 15 or October 15
(whether or not a Business Day) next preceding such Interest Payment Date.

<PAGE>

          Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the holder on such Record Date and may either
be paid to the Person in whose name this Note is registered at the close of
business on a subsequent Record Date, such subsequent Record Date to be not less
than five days prior to the date of payment of such defaulted interest, notice
whereof shall be given to holders of Notes of this series not less than 15 days
prior to such subsequent Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on
which the Notes of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture.

     In the case of any period of less than six months and any date other than
an Interest Payment Date, interest hereon will be calculated on the basis of the
actual number of days in the relevant period and a year of 365 days.

     If either a date for payment of principal or interest on the Notes or the
Maturity of the Notes falls on a day that is not a Business Day, the related
payment of principal or interest will be made on the next succeeding Business
Day as if made on the date the payment was due. No interest will accrue on any
amounts payable for the period from and after the date for payment of principal
or interest on the Notes or the Maturity of the Notes. For these purposes,
"Business Day" means any day which is a day on which commercial banks and
foreign exchange markets settle payments and are open for general business
(including dealings in foreign exchange and foreign currency deposits) in (a)
the relevant place of payment and (b) each of The City of New York, Tokyo and
London.

          Payment of the principal of and interest on this Note will be made at
the office or agency of the Company maintained for that purpose in London or The
City of New York in Japanese Yen.

          Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

          Unless the certificate of authentication hereon has been executed by
the Trustee or by the authenticating agent on behalf of the Trustee referred to
on the reverse hereof by manual signature, this Note shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

<PAGE>

          IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated: October 31, 2005

                                        CITIGROUP INC.

                                        By:
                                            ------------------------------------
                                        Title: Treasurer

ATTEST:

By:
    ---------------------------------
Assistant Secretary

<PAGE>

          This is one of the Notes of the series issued under the
within-mentioned Indenture.

Dated: October 31, 2005

                                        THE BANK OF NEW YORK,
                                        as Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                      -or-

                                        CITIBANK, N.A., LONDON OFFICE,
                                           as Authenticating Agent

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

<PAGE>

          This Note is one of a duly authorized issue of Securities of the
Company (the "Notes"), issued and to be issued in one or more series under the
Indenture, dated as of March 15, 1987 (as amended and supplemented to date, the
"Indenture"), between the Company and The Bank of New York, as Trustee (the
"Trustee", which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the holders of the Notes
and of the terms upon which the Notes are, and are to be, authenticated and
delivered. This Note is one of the series designated on the face hereof,
initially issued in the aggregate principal amount of Y50,000,000,000.

          So long as the Notes of this series are in the form of Global
Securities only, all Notes of this series will collectively be evidenced (a) by
the Global Securities for this series registered in the name of Cede & Co. and
bearing registration number R-0001-DTC-A (the "DTC Global Note") and (b) by this
Global Note (the "International Global Note"). The DTC Global Note and the
International Global Note will at all times collectively represent the aggregate
principal amount of this series outstanding from time to time. If at any time a
portion of the International Global Note is exchanged for an interest in the DTC
Global Note, the principal amount of the DTC Global Note shall be increased by
the amount of such portion, and the DTC Global Note shall be endorsed on the
Schedule of Exchanges of Interests thereto to reflect such principal increase,
subject to the limitation that in no event may the principal amount of the DTC
Global Note be greater than the equivalent in U.S. dollars of $500,000,000. If
at any time a portion of the DTC Global Note is exchanged for an interest in the
International Global Note, the principal amount of the DTC Global Note shall be
decreased by the amount of such portion, and the DTC Global Note shall be
endorsed on the Schedule of Exchanges of Interests thereto to reflect such
principal decrease. To ascertain the U.S. dollar equivalent of the principal
amount endorsed on the Schedule of Exchanges of Interests attached to the DTC
Global Note, inquiry shall be made of the exchange agent under the Fiscal Agency
Agreement, and the U.S. dollar equivalent quoted by such exchange agent (and the
date of such quote) shall be noted on such Schedule of Exchanges of Interests
next to the corresponding Yen amount.

          If an event of default (as defined in the Indenture) with respect to
Notes of this series shall occur and be continuing, the principal of the Notes
of this series may be declared due and payable in the manner and with the effect
provided in the Indenture.

          The Indenture contains provisions for defeasance at any time of the
entire indebtedness of this Note upon compliance by the Company with certain
conditions set forth in Sections 11.03 and 11.04 thereof, which provisions apply
to this Note.

          The Indenture contains provisions permitting the Company and the
Trustee, without the consent of the holders of Securities, to establish, among
other things, the form and terms of any series of Securities issuable thereunder
by one or more supplemental indentures, and, with the consent of the holders of
not less than 66 2/3% in aggregate principal amount of Securities at the time
Outstanding which are affected thereby, to modify the Indenture or any

<PAGE>

supplemental indenture or the rights of the holders of Securitiies of such
series to be affected, provided that no such modification will (x) extend the
fixed maturity of any Securities, reduce the rate or extend the time of payment
of interest thereon, reduce the principal amount thereof or the premium, if any,
thereon, reduce the amount of the principal of Original Issue Discount
Securities payable on any date, change the currency in which Securities are
payable, or impair the right to institute suit for the enforcement of any such
payment on or after the maturity thereof, without the consent of the holder of
each Security so affected, or (y) reduce the aforesaid percentage of Securities
of any series the consent of the holders of which is required for any such
modification without the consent of the holders of all Securities of such series
then Outstanding, or (z) modify, without the written consent of the Trustee, the
rights, duties or immunities of the Trustee.

          No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency, herein prescribed.

          This Note is a Global Security registered in the name of a nominee of
the Depository. This Note is exchangeable for Notes registered in the name of a
person other than the Depository or its nominee only in the limited
circumstances hereinafter described. Unless and until it is exchanged in whole
or in part for definitive Notes in certificated form, this Note may not be
transferred except as a whole by the Depository to a nominee of the Depository
or by a nominee of the Depository to the Depository or another nominee of the
Depository.

          The Notes represented by this Global Security are exchangeable for
definitive Notes in certificated form of like tenor as such Notes in
denominations of Y1,000,000 and integral multiples thereof only if (i) the
Depository notifies the Company that it is unwilling or unable to continue as
Depository for the DTC Global Note or (ii) the Depository ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as
amended, or (iii) both the Euroclear System and Clearstream Banking, societe
anonyme, notify the Company that they are unwilling or unable to continue as a
clearing system for the International Global Note or (iv) the Company in its
sole discretion decides to allow the Notes to be exchanged for definitive Notes
in registered form. Any Notes that are exchangeable pursuant to the preceding
sentence are exchangeable for certificated Notes issuable in authorized
denominations and registered in such names as the Depository shall direct. As
provided in the Indenture and subject to certain limitations therein set forth,
the transfer of definitive Notes in certificated form is registrable in the
register maintained by the Company for such purpose, upon surrender of the
definitive Note for registration of transfer at the office or agency of the
Company in any place where the principal of and interest on the definitive Note
are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the registrar duly executed by,
the holder thereof or his attorney duly authorized in writing, and thereupon one
or more new Notes of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated
transferee or transferees. Subject to the foregoing, this Note is not
exchangeable, except for a Global Security or Global Securities of

<PAGE>

this issue of the same principal amount to be registered in the name of the
Depository or its nominee.

          No service charge shall be made for any such registration of transfer
or exchange, but the Company may require payment of a sum sufficient to cover
any tax or other governmental charge payable in connection therewith.

          Prior to due presentment of this Note for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     The Company will pay additional amounts ("Additional Amounts") to the
beneficial owner of any Note that is a non-United States person in order to
ensure that every net payment on such Note will not be less, due to payment of
U.S. withholding tax, than the amount then due and payable. For this purpose, a
"net payment" on a Note means a payment by the Company or a paying agent,
including payment of principal and interest, after deduction for any present or
future tax, assessment or other governmental charge of the United States. These
Additional Amounts will constitute additional interest on the Note.

     The Company will not be required to pay Additional Amounts, however, in any
of the circumstances described in items (1) through (12) below.

     (1)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld solely by reason of the beneficial
          owner:

          (a)  having a relationship with the United States as a citizen,
               resident or otherwise;

          (b)  having had such a relationship in the past or

          (c)  being considered as having had such a relationship.

     (2)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld solely by reason of the beneficial
          owner:

          (a)  being treated as present in or engaged in a trade or business in
               the United States;

          (b)  being treated as having been present in or engaged in a trade or
               business in the United States in the past or

          (c)  having or having had a permanent establishment in the United
               States.

     (3)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld solely by reason of the beneficial
          owner being or having been a:

          (a)  personal holding company;

          (b)  foreign personal holding company;

<PAGE>

          (c)  foreign private foundation or other foreign tax-exempt
               organization;

          (d)  passive foreign investment company;

          (e)  controlled foreign corporation or

          (f)  corporation which has accumulated earnings to avoid United States
               federal income tax.

     (4)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld solely by reason of the beneficial
          owner owning or having owned, actually or constructively, 10 percent
          or more of the total combined voting power of all classes of stock of
          the Company entitled to vote.

For purposes of item (1) through (4) above, "beneficial owner" means a
fiduciary, settlor, beneficiary, member or shareholder of the holder if the
holder is an estate, trust, partnership, limited liability company, corporation
or other entity, or a person holding a power over an estate or trust
administered by a fiduciary holder.

     (5)  Additional Amounts will not be payable to any beneficial owner of a
          Note that is a:

          (a)  fiduciary;

          (b)  partnership;

          (c)  limited liability company or

          (d)  other fiscally transparent entity

          or that is not the sole beneficial owner of the Note, or any portion
          of the Note. However, this exception to the obligation to pay
          Additional Amounts will only apply to the extent that a beneficiary or
          settlor in relation to the fiduciary, or a beneficial owner or member
          of the partnership, limited liability company or other fiscally
          transparent entity, would not have been entitled to the payment of an
          Additional Amount had the beneficiary, settlor, beneficial owner or
          member received directly its beneficial or distributive share of the
          payment.

     (6)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld solely by reason of the failure of
          the beneficial owner or any other person to comply with applicable
          certification, identification, documentation or other information
          reporting requirements. This exception to the obligation to pay
          Additional Amounts will only apply if compliance with such reporting
          requirements is required by statute or regulation of the United States
          or by an applicable income tax treaty to which the United States is a
          party as a precondition to exemption from such tax, assessment or
          other governmental charge.

     (7)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is collected or imposed by any method other than by
          withholding from a payment on a Note by the Company or a paying agent.

<PAGE>

     (8)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld by reason of a change in law,
          regulation, or administrative or judicial interpretation that becomes
          effective more than 15 days after the payment becomes due or is duly
          provided for, whichever occurs later.

     (9)  Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment or other governmental
          charge that is imposed or withheld by reason of the presentation by
          the beneficial owner of a Note for payment more than 30 days after the
          date on which such payment becomes due or is duly provided for,
          whichever occurs later.

     (10) Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any:

          (a)  estate tax;

          (b)  inheritance tax;

          (c)  gift tax;

          (d)  sales tax;

          (e)  excise tax;

          (f)  transfer tax;

          (g)  wealth tax;

          (h)  personal property tax or

          (i)  any similar tax, assessment or other governmental charge.

     (11) Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any tax, assessment, or other governmental
          charge required to be withheld by any paying agent from a payment of
          principal or interest on a Note if such payment can be made without
          such withholding by any other paying agent.

     (12) Additional Amounts will not be payable if a payment on a Note is
          reduced as a result of any combination of items (1) through (11)
          above.

     Except as specifically provided herein, the Company will not be required to
make any payment of any tax, assessment or other governmental charge imposed by
any government or a political subdivision or taxing authority of such
government.

     As used in this Note, "United States person" means:

     (a)  any individual who is a citizen or resident of the United States;

     (b)  any corporation, partnership or other entity created or organized in
          or under the laws of the United States;

     (c)  any estate if the income of such estate falls within the federal
          income tax jurisdiction of the United States regardless of the source
          of such income and

     (d)  any trust if a United States court is able to exercise primary
          supervision over its administration and one or more United States
          persons have the authority to control all of the substantial decisions
          of the trust.

<PAGE>

     Additionally, "non-United States person" means a person who is not a United
States person, and "United States" means the United States of America, including
the States and the District of Columbia, its territories, its possessions and
other areas within its jurisdiction.

     Except as provided below, the Notes may not be redeemed prior to maturity.

     (1)  The Company may, at its option, redeem the Notes if:

          (a)  the Company becomes or will become obligated to pay Additional
               Amounts as described above;

          (b)  the obligation to pay Additional Amounts arises as a result of
               any change in the laws, regulations or rulings of the United
               States, or an official position regarding the application or
               interpretation of such laws, regulations or rulings, which change
               is announced or becomes effective on or after October 21, 2005
               and

          (c)  the Company determines, in its business judgment, that the
               obligation to pay such Additional Amounts cannot be avoided by
               the use of reasonable measures available to it, other than
               substituting the obligor under the Notes or taking any action
               that would entail a material cost to the Company.

     (2)  The Company may also redeem the Notes, at its option, if:

          (a)  any act is taken by a taxing authority of the United States on or
               after October 21, 2005, whether or not such act is taken in
               relation to the Company or any affiliate, that results in a
               substantial probability that the Company will or may be required
               to pay Additional Amounts as described under above;

          (b)  the Company determines, in its business judgment, that the
               obligation to pay such Additional Amounts cannot be avoided by
               the use of reasonable measures available to it, other than
               substituting the obligor under the Notes or taking any action
               that would entail a material cost to the Company and

          (c)  the Company receives an opinion of independent counsel to the
               effect that an act taken by a taxing authority of the United
               States results in a substantial probability that the Company will
               or may be required to pay the Additional Amounts described under
               above, and delivers to the Trustee a certificate, signed by a
               duly authorized officer, stating that based on such opinion the
               Company is entitled to redeem the Notes pursuant to their terms.

Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in
whole, and not in part, and will be made at a redemption price equal to 100% of
the principal amount of the Notes Outstanding plus accrued interest thereon to
the date of redemption. Holders shall be given not less than 30 days nor more
than 60 days prior notice by the Trustee of the date fixed for such redemption.

          All terms used in this Note which are defined in the Indenture shall
have the meanings assigned to them in the Indenture. The Notes are governed by
the laws of the State of New York.

<PAGE>

                       SCHEDULE OF EXCHANGES OF INTERESTS

          The following exchanges of a part of this Note for an interest in
another Global Security or for a certificated Note, or exchanges of a part of
another Global Security or certificated Note for an interest in this Note, have
been made:

<TABLE>
<CAPTION>
                                                                                               Signature of
             Amount of decrease in      Amount of increase in    Principal Amount of this   Authorized Officer
 Date of   Principal Amount of this   Principal Amount of this      Note following such        of Trustee or
Exchange             Note                       Note              decrease (or increase)       Fiscal Agent
--------   ------------------------   ------------------------   ------------------------   ------------------
<S>        <C>                        <C>                        <C>                        <C>

October 31, 2005 (original issuance)                                                              Y___________

--------------------------------------------------------------------------------------------------------------

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</TABLE>

*    This Schedule may be used by the Trustee, Paying Agent, Fiscal Agent or
     other agent of the Company in respect of this Note, and, if so used, shall
     be deemed a part thereof for all purposes.<PAGE>

                                                                    Exhibit 4.03

                                 CITIGROUP INC.

                                       AND

                                 CITIBANK, N.A.
                  AS FISCAL AGENT, REGISTRAR AND EXCHANGE AGENT

                                       AND

            DEXIA BANQUE INTERNATIONALE A LUXEMBOURG, SOCIETE ANONYME
                       AS PAYING AGENT AND TRANSFER AGENT

                                   ----------

                                AGENCY AGREEMENT
                    YEN 50,000,000,000 2.400% NOTES DUE 2025
                          DATED AS OF OCTOBER 31, 2005

                                   ----------

<PAGE>

                                       2

THIS AGREEMENT is made in London as of October 31, 2005, BY

(1)  CITIGROUP INC. (the "ISSUER").

(2)  CITIBANK, N.A. ("CITIBANK, N.A."), which shall act as fiscal agent,
     registrar and exchange agent (hereinafter referred to in such respective
     capacities as "FISCAL AGENT", "REGISTRAR" or as "EXCHANGE AGENT", which
     expressions shall include any successor or successors thereto).

(3)  DEXIA BANQUE INTERNATIONALE A LUXEMBOURG, SOCIETE ANONYME, which shall act
     as paying agent and transfer agent (hereinafter referred to as "PAYING
     AGENT" and "TRANSFER AGENT", which expression shall include any successor
     or successors thereto).

     WHEREAS pursuant to the Terms Agreement dated October 21, 2005 (the
"UNDERWRITING AGREEMENT") between the Issuer and the Underwriters named therein,
the Issuer has agreed to issue its Yen 50,000,000,000 2.400% Notes due October
2025 (the "NOTES"); and

     WHEREAS the Issuer wishes to appoint Citibank, N.A. to act as Fiscal Agent,
Registrar and Exchange Agent and Dexia Banque Internationale a Luxembourg,
societe anonyme as Paying Agent and Transfer Agent in relation to the Notes upon
the terms and conditions set forth in this Agreement and the Schedules hereto.

     IT IS HEREBY AGREED as follows:

1.   DEFINITIONS, INTERPRETATION

     The following terms shall, unless the context otherwise requires, have the
     respective meanings indicated below:

     "AGENT(S)" means any of the Fiscal Agent, the Registrar, the Paying Agent
     and the Transfer Agent.

     "CONDITIONS" means the terms and conditions of the Notes, as contained in
     the Global Notes, in the Prospectus Supplement dated October 21, 2005 and
     the Indenture.

     "GLOBAL NOTES" means either one or both of (i) the International Global
     Note in the form of Schedule 1 attached hereto and (ii) the DTC Global
     Notes in the form of Schedule 2 attached hereto (also referred to herein as
     the "DTC GLOBAL NOTE" and the "INTERNATIONAL GLOBAL NOTE", respectively).

     "INDENTURE" means the Indenture dated as of March 15, 1987, as amended and
     supplemented to date, between the Issuer and The Bank of New York (the
     "TRUSTEE").

     Terms not defined herein shall have the same meanings as are assigned
     thereto in the Underwriting Agreement and the Conditions.

<PAGE>

                                       3

2.   APPOINTMENTS

2.1 The Issuer hereby appoints Citibank, N.A. to act as Fiscal Agent, Registrar
and Exchange Agent in respect of the Notes and Global Notes.

2.2 Citibank, N.A. hereby accepts such appointments and the resulting
obligations, and agrees to act in such capacities, on the terms and conditions
set out in this Agreement and the Schedules hereto. In particular, the Fiscal
Agent agrees to effect any publication of notices pursuant to the Conditions.

2.3 The Issuer hereby appoints Dexia Banque Internationale a Luxembourg, societe
anonyme to act as Paying Agent and Transfer Agent in respect of the Notes and
Global Notes.

2.4 Dexia Banque Internationale a Luxembourg, societe anonyme hereby accepts
such appointments and the resulting obligations, and agrees to act in such
capacities, on the terms and conditions set out in this Agreement and the
Schedules hereto.

2.5 The obligations of the Agents are several and not joint.

3.   THE NOTES

3.1 The Notes shall be represented by permanent Global Notes without interest
coupons as specified in the Conditions. The International Global Note and the
DTC Global Note shall be substantially in the forms attached hereto as Schedules
1 and 2, respectively, in each case with such changes as may be agreed between
the Issuer and the Trustee. The Conditions shall be attached to, or endorsed
upon, each Global Note. In the event that individual definitive Notes are
issued, the parties shall enter into a supplement to this Agreement to provide
for the matters set forth herein with regard to such definitive Notes.

3.2 Each Global Note shall be signed manually by a duly authorised officer of
the Issuer and dated the Issue Date. Each Global Note shall be authenticated
manually by Citibank, N.A., as authenticating agent on behalf of the Trustee,
and delivered to (i) in the case of the International Global Note, Citibank,
N.A. as common depositary for Euroclear and Clearstream, and (ii), in the case
of the DTC Global Notes, Citibank, N.A., London office as custodian for The
Depository Trust Company, New York ("DTC").

4.   PAYING AGENCY

4.1 The Issuer shall remit the funds necessary for the payment of interest on
and principal of the Notes to the Fiscal Agent, in Yen in same-day funds, to
such account at the Fiscal Agent in London as the Fiscal Agent may from time to
time specify (the "REDEMPTION ACCOUNT") on the Business Day such payment is due,
provided always that, if any due date shall not be a Business Day, the Issuer
shall make such transfer to the account of the Fiscal Agent on the next
succeeding Business Day (for the purposes of this Clause 4, Business Day shall
mean a day on which commercial banks and foreign exchange markets settle
payments and are open for general business in each of London, Tokyo and The City
of New York.

The Issuer hereby authorizes and directs the Fiscal Agent, from the amounts so
paid to it, to make payment of the principal of, and interest on, the Notes on
the due date for payment set forth in the Conditions and this Agreement. If
applicable, the Fiscal Agent will, from funds so received from the Issuer,
credit to the account of the Paying Agent the amounts of all such payments made
by it in accordance with the provisions of this Agreement.

The Issuer shall confirm to the Fiscal Agent not later than 10:00 a.m. (London
time) on the second Business Day before the relevant date for such payment that
it has issued irrevocable payment instructions for such payment to be made.

4.2 If for any reason the Fiscal Agent does not receive unconditionally the full
amount payable by the Issuer on the relevant due date in respect of all the
outstanding or maturing Notes, the Fiscal Agent

<PAGE>

                                        4

shall forthwith notify immediately the Issuer by telephone followed by facsimile
and the Fiscal Agent shall not be bound to make any payment of principal or
interest in respect of the Notes until the Fiscal Agent has received to its
order the full amount of the monies then due and payable in respect of all
outstanding or maturing Notes, provided, however, that if the Fiscal Agent
shall, in its discretion, make any payment of principal or interest on or after
the due date therefor in respect of the Notes prior to its unconditional receipt
of the full amount then due and payable in respect of all outstanding Notes, the
Issuer will promptly pay such amount to the Fiscal Agent and will compensate the
Fiscal Agent at a rate equal to the Fiscal Agent's cost of funding.

4.3 Out of the sums paid to the Fiscal Agent in respect of interest and
principal on the Notes, the Fiscal Agent will make payment free of charge to the
registered holder of the International Global Note and the DTC Global Note as
stipulated in Clause 9 below, in the amounts specified in the Conditions. The
Fiscal Agent shall obtain from the Registrar, and the Registrar shall supply,
such details as are required for the Paying Agent to make payment as stated
above.

4.4 In respect of the monies paid to it relating to any Note, the Fiscal Agent

     4.4.1 shall not be entitled to exercise any lien, right of set-off or
     similar claim (including without limitation any claim arising from or
     relating to any other issue of securities by the Issuer),

     4.4.2 shall not be required to account for interest thereon and

     4.4.3 money held by it need not be segregated except as may be required by
     applicable law.

5.   DOCUMENTS FOR INSPECTION AND PUBLICATION OF NOTICES

5.1 On behalf and at the request and expense of the Issuer, the Fiscal Agent
shall cause to be published any notices required to be given by the Issuer in
accordance with the Conditions.

5.2 The Issuer shall provide to the Fiscal Agent sufficient copies of all
documents required by the Conditions to be available for issue or inspection,
and the Fiscal Agent shall make such copies available to Noteholders upon their
request.

5.3 To the extent practicable, the Issuer shall provide the Fiscal Agent with a
copy (prior to publication) of all notices to be issued in connection with the
Notes.

6.   CANCELLATION OF THE GLOBAL NOTES

6.1 Subject to the terms of the Indenture, promptly upon the Issuer's request,
the Registrar shall take all measures necessary to cancel any Notes which the
Issuer has repurchased or whose maturity has been accelerated pursuant to the
Conditions. The Registrar shall cause any such Notes (i) to the extent
represented by the International Global Note, to be cancelled resulting in a
reduction in the aggregate amount of the Notes represented by the International
Global Note by the aggregate amount of Notes so cancelled, and (ii) to the
extent represented by the DTC Global Note, to be cancelled in accordance with
the procedures established for that purpose by DTC, resulting in a reduction in
the aggregate amount of the Notes represented by the DTC Global Note by the
aggregate amount of the Notes so cancelled.

6.2 On the same day such cancellation is effected, the Registrar shall record
such cancellation of Notes on the Register in such a way that the aggregate
principal amount of Notes cancelled at any time together with the aggregate
principal amount of Notes outstanding and represented by the Global Notes shall
equal the aggregate principal amount of Notes originally issued by the Issuer.

6.3 The Registrar shall upon request furnish the Issuer with a notice of
cancellation signed by an authorized officer of the Registrar confirming the
cancellation of such Notes and the corresponding reduction of the relevant
Global Note(s).

<PAGE>

                                        5

7.   DUTIES OF THE REGISTRAR

7.1 The Registrar shall maintain the Register in London in accordance with the
Conditions. The Register shall show the aggregate amount of Notes represented by
each Global Note at the date of issue and all subsequent transfers and exchanges
involving a change in such amounts and the names and addresses of the registered
holders (each a "PAYEE"). On the first Business Day after the Record Date for
any interest payment on the Notes, the Registrar shall send payment details in
respect of the Payees and the Yen accounts to which transfers should be made to
the Fiscal Agent.

7.2 Transfers or exchanges of Notes will be made in accordance with the
Conditions, the procedures established for this purpose between Euroclear,
Clearstream, DTC and the Registrar, and Euroclear, Clearstream and DTC's
regulations applicable to such transfers or exchanges. Any such transfer or
exchange which results in a change in the aggregate principal amount of Notes
held by Euroclear, Clearstream and DTC shall be notified by Euroclear,
Clearstream and DTC to the Registrar. The Registrar shall promptly enter details
of the transfer or exchange in the Register, which entry shall, without further
action, cause the aggregate principal amount represented by each Global Note to
be amended accordingly.

7.3 The Registrar shall at all reasonable times during office hours make the
Register available to the Issuer and the Fiscal Agent or any person authorised
by either of them for inspection and for the taking of copies thereof or
extracts therefrom, and the Registrar shall deliver to such persons such
information contained in the Register or relating to the Notes as they may
reasonably request.

8.   DUTIES OF THE TRANSFER AGENT

If and to the extent so specified by the Conditions and in accordance therewith,
or if otherwise requested by the Issuer, the Transfer Agent shall make available
all relevant forms of transfer, inform the Registrar of the name and address of
the relevant person to be inserted in the Register and carry out such other acts
as may be necessary to give effect to the Conditions and this Agreement.

9.   PAYMENTS TO DTC NOTEHOLDERS

9.1 All amounts of principal and interest due in respect of the Notes which are
represented by the DTC Global Note (each a "DTC AMOUNT") shall be paid in U.S.
dollars (each such payment being referred to herein as a "U.S. DOLLAR PAYMENT"),
unless DTC has advised the Fiscal Agent that the relevant Noteholder has made an
effective election to receive all or a portion of its payment in Yen outside DTC
(each a "YEN PAYMENT").

9.2 The Paying Agent shall, from each DTC Amount received by it, make U.S.
Dollar Payments in accordance with the Conditions and Yen Payments in accordance
with the Conditions.

10.  DUTIES OF EXCHANGE AGENT

     For the purposes of this Clause 10, a "payment date" shall be each date on
     which the Issuer is obligated to remit funds to the Fiscal Agent pursuant
     to Clause 4.1.

     The Exchange Agent shall:

(i)  accept Yen by remittance to an account maintained by the Exchange Agent of
     the total amount of interest or principal due on any payment date on Notes
     held by Cede & Co. (as nominee of DTC) on the Record Date. The Exchange
     Agent shall be advised by Cede & Co. (as nominee of DTC) if any beneficial
     holders of the Notes held by Cede & Co. (as nominee of DTC) have elected to
     receive payment in Yen and, if so, the amount of Notes held by such holders
     and the accounts to which such payments in Yen are to be wired. On the
     payment date, the Exchange Agent shall wire payment in the appropriate Yen
     amounts to the accounts indicated. The remainder on such payment date shall
     be exchanged by the Exchange Agent pursuant to sub-clause (ii) below into
     U.S. dollars and, after deduction of any costs relating to such exchange,
     shall be paid to Cede & Co. (as nominee of DTC) on the payment date; and

<PAGE>

                                       6

(ii) at or prior to 11:00 a.m., London time, on the second London business day
     preceding the applicable payment date, enter into a contract for the
     purchase of U.S. dollars with the Specified Amount of Yen for settlement on
     such payment date. "SPECIFIED AMOUNT" shall mean the aggregate amount of
     Yen payable to all Noteholders holding Notes through participants of DTC
     that have not elected to receive payments in Yen. The amount of U.S.
     dollars payable in respect of a particular payment under the DTC Global
     Note will be equal to the amount of Yen otherwise payable exchanged into
     U.S. dollars at the Yen/U.S.$ exchange rate prevailing as at 11:00 a.m.
     (London time) on the second London business day prior to the relevant
     payment date, less any costs incurred by the Exchange Agent for such
     conversion (such costs to be shared pro rata among holders under the DTC
     Global Note accepting U.S. dollar payments in proportion of their
     respective holdings). If an exchange rate bid quotation is not so
     available, the Exchange Agent shall obtain a bid quotation from a leading
     foreign exchange bank in London selected by the Exchange Agent after
     consultation with the Issuer. If no bid quotation is so available, payment
     will be made in Yen to the account or accounts specified by DTC to the
     Exchange Agent. In this sub-clause (ii), the term "London business day"
     shall mean any day on which commercial banks and foreign exchange markets
     settle payments in New York City, Tokyo and London.

11.  CONDITIONS OF APPOINTMENT

11.1 The Issuer will pay to the Agents a remuneration for all services rendered
hereunder by the Agents in connection with the Notes together with any expenses
incurred as separately agreed upon by the Agents and the Issuer.

11.2 The Issuer will indemnify and hold harmless each of the Agents against any
loss, liability or expense which it may incur or any claim, action or demand
which may be made against it resulting from the negligence or wilful misconduct
on the part of the Issuer (or its officers, employees or agents (other than the
Agents and their officers, employees, and agents)) and arising out of or in
connection with such Agent's appointment or the exercise of its powers and
duties hereunder without negligence or wilful misconduct on the part of such
Agent.

11.3 Each Agent will indemnify and hold harmless the Issuer against any loss,
liability or expense incurred by the Issuer or any claim, action or demand which
may be made against the Issuer resulting from the negligence or wilful
misconduct on the part of such Agent (or such Agent's officers, employees or
agents) and arising out of or in connection with such Agent's duties hereunder.
Notwithstanding the foregoing, under no circumstances will any Agent be liable
to the Issuer or any other person for any consequential loss (being loss of
business, goodwill, opportunity or profit) even if advised to the possibility of
such loss or damages.

11.4 The indemnities above shall survive the termination or expiry of this
Agreement.

11.5 Each of the Agents shall be protected and shall incur no liability for or
in respect of any action taken, omitted or suffered in reliance upon any
instruction or communication from the Issuer or any document reasonably believed
by it to be genuine and to have been delivered, signed or sent by the proper
party or parties in accordance with the provisions hereof, except such as may
result from its own negligence or wilful misconduct or that of its officers,
employees or agents.

11.6 In acting hereunder and in connection with the Notes, the Agents do not
assume any relationship of agency and trust for the Noteholders, and shall not
have any obligation towards them except that all funds held by the Fiscal Agent
for payment of principal of or interest on the Notes shall be held exclusively
for the benefit of and for payment to the Noteholders and shall be applied as
set forth herein and in the Conditions. Except as otherwise required by
applicable law, no Agent will be required to segregate any funds held by it
hereunder from any of its other funds.

11.7 Nothing herein shall be deemed to require any Agent to advance its own
funds in the performance of its duties hereunder.

11.8 The Agents may consult with legal and other professional advisers selected
in good faith and satisfactory to them and the opinion of such advisers shall be
full and complete protection in respect of

<PAGE>

                                        7

any action taken, omitted or suffered hereunder in good faith and without
negligence and in accordance with the opinion of such advisers.

11.9 The Agents shall be obliged to perform such duties and only such duties as
are herein specifically set forth, and no implied duties or obligations shall be
read into this Agreement against the Agents. No Agent shall be under any
obligation to take any action hereunder which it expects will result in any
expense or liability of such Agent, the payment of which within a reasonable
time is not, in its opinion, assured to it. The obligations of the Agents
hereunder are several and not joint.

11.10 The Agents, their affiliates and their respective officers and employees,
in their individual or any other capacity, may become the owner of, or acquire
any interest in, any Notes with the same rights that the Agents would have it
they were not the Agents hereunder.

12.  CHANGE IN AGENTS

12.1 Each of the Fiscal Agent, Registrar, Exchange Agent, Paying Agent and
Transfer Agent in its capacity as such may be removed at any time by the giving
to it of at least 30 days' written notice to that effect signed on behalf of the
Issuer specifying the date on which such removal shall become effective. Each of
the Fiscal Agent, Registrar, Exchange Agent, Paying Agent and Transfer Agent may
at any time resign by giving at least 30 days' written notice (unless the Issuer
agrees to accept less notice) to that effect to the Issuer specifying the date
on which such resignation shall become effective. Notwithstanding the foregoing,
no such resignation or removal shall take effect within 30 days before or after
any due date for payment of any Notes or before a new Fiscal Agent, Registrar,
Exchange Agent, Paying Agent and Transfer Agent, as the case may be, shall have
been appointed by the Issuer as hereinafter provided, and such new Agent shall
have accepted such appointment. Any change in any Agent shall be notified by the
Issuer to the other Agent(s).

12.2 The Issuer agrees with the Fiscal Agent that if, by the day falling 10 days
before the expiry of any notice under Clause 12.1 above, the Issuer has not
appointed a replacement Fiscal Agent, then the Fiscal Agent shall be entitled,
on behalf of the Issuer, to appoint in its place any reputable financial
institution of good standing and the Issuer shall not unreasonably object to
such appointment.

12.3 Upon the effectiveness of the appointment of any successor Fiscal Agent,
Registrar, Exchange Agent, Paying Agent and Transfer Agent, as the case may be,
pursuant to Clause 12.1, the Fiscal Agent, Registrar, Exchange Agent, Paying
Agent and Transfer Agent so removed shall cease to be a Fiscal Agent, Registrar,
Exchange Agent, Paying Agent and Transfer Agent, as the case may be, hereunder.
Prior to the effectiveness of such appointment, the Fiscal Agent, Registrar,
Exchange Agent, Paying Agent and Transfer Agent shall hold all moneys deposited
with it or held by it hereunder in respect of the Notes to the order of the
respective successor Fiscal Agent, Registrar, Exchange Agent, Paying Agent and
Transfer Agent.

13.  NOTICES

Notices shall be in writing (including by facsimile) and addressed to the
relevant party hereto as follows:

(a)  If to the Issuer:

     Citigroup Inc.
     153 East 53rd Street
     New York, New York 10043
     Attention: Treasury Department
     Telephone: 212-559-3553
     Telefax: 212-793-5629

(b)  If to the Fiscal Agent, Registrar and Exchange Agent:

     Citibank, N.A.
     P.O. Box 18055

<PAGE>

                                        8

     5 Carmelite Street
     London EC4Y 0PA
     Attn: Agency & Trust, Bond Desk
     Telefax: 44-020-7508-3878

(c)  If to the Paying Agent:

     Dexia Banque Internationale a Luxembourg, societe anonyme
     69, route d'Esch
     L-2953 Luxembourg
     Telephone: 352-45-90-1
     Telefax: 352-45-90-42-27

or at any other address of which any of the foregoing shall have notified the
others, and shall be deemed to have been given when received by the relevant
party.

14.  APPLICABLE LAW, PLACE OF JURISDICTION

14.1 This Agreement shall be subject to New York law.

14.2 The non-exclusive place for all proceedings arising out of this agreement
shall be New York.

15.  MISCELLANEOUS

15.1 The Fiscal Agent agrees to perform its obligations hereunder through its
London Branch to the extent that this is necessary or appropriate in order to
make payments to DTC or DTC Participants in accordance with the Conditions.

15.2 The Fiscal Agent shall promptly advise the Issuer of any notice, including
any notice declaring Notes due, which it may receive pursuant to the Conditions.

15.3 Should any of the provisions of this Agreement be or become invalid, in
whole or in part, the other provisions of this Agreement shall remain in force.
Invalid provisions shall, according to the intent and purpose of this Agreement,
be replaced by such valid provisions which in their economic effect come as
close as legally possible to that of the invalid provisions.

15.4 This Agreement may be signed in two counterparts.

15.5 Terms not defined in this Agreement shall have the meanings ascribed to
them in the Underwriting Agreement or the Conditions, as the case may be.

15.6 If there is any conflict between the terms of this Agreement and the terms
of the Indenture, the terms of the Indenture shall control.

15.7 The provisions of the United States Trust Indenture Act of 1939, as amended
(the "Trust Indenture Act"), shall be incorporated by reference herein to the
extent applicable. Each of the Agents agrees to abide by the Trust Indenture
Act, to the extent applicable in the performance of their respective duties
hereunder. If there is any conflict between the terms of this Agreement and the
Trust Indenture Act, the provisions of the Trust Indenture Act shall govern to
the extent of such conflict.

                  [remainder of page intentionally left blank]

<PAGE>

                                        9

This Agreement has been entered into effective the date stated at the beginning
hereof.

CITIGROUP INC.

/s/ Charles E. Wainhouse
-----------------------------------------
Charles E. Wainhouse, Assistant Treasurer

CITIBANK, N.A.

/s/ Jillian Hamblin
-----------------------------------------
Jillian Hamblin, Vice President

DEXIA BANQUE INTERNATIONALE A LUXEMBOURG,
SOCIETE ANONYME

/s/ Jean-Marc Richard
-----------------------------------------
Jean-Marc Richard, Directeur adjoint

/s/ Jean-Jacques Kinnen
-----------------------------------------
Jean-Jacques Kinnen, Assistant Vice
President

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