Citi and Metalmark Capital Revise Business Relationship

Citigroup Inc. (NYSE:C) and Metalmark Capital announced today the completion of an agreement to revise their current business relationship as a result of new regulatory requirements. As part of the agreement, Metalmark Capital is no longer an affiliate of Citi but Citi will continue to retain its limited partner interests in Metalmark Capital Partners II. Metalmark Capital will continue to make all operational and investment decisions for Metalmark Capital Partners II and its successor funds. Metalmark Capital will be led by the same investment team that has been together for more than 20 years and will continue the management of Metalmark Capital Partners I and II and, through a long-standing sub-advisory relationship, some of the legacy Morgan Stanley Capital Partners funds. Additional terms of the agreement were not disclosed.

“We thank Citi for their partnership and we look forward to continuing our long-term relationship with them as we work to deliver value to our investors,” said Howard Hoffen, Chairman and Chief Executive Officer of Metalmark Capital. “My colleagues and I have worked together for more than 20 years and we will continue our time-tested and proven investment strategy, and ensure continuity for our investors and portfolio companies. Additionally, the hallmarks of our business will remain the same - to build sustainable value by utilizing our industry expertise, embracing complex situations and partnering with strong management teams.”

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Metalmark Capital

Metalmark Capital is a leading private equity firm whose principals have a long track record of successful investing in targeted sectors, with particular focus and competence in energy/natural resources, industrials and healthcare. Metalmark Capital seeks to build long-term value through active and supportive partnerships with the companies and management teams in which it invests. Metalmark Capital is currently investing its latest fund with $2.5 billion of committed capital. For more information, please visit www.metalmarkcapital.com.