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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: redfrecknj who wrote (74244)11/16/2006 11:59:54 PM
From: ild  Read Replies (1) of 110194
 
Remarks:
EXHIBIT 1 The Reporting Person believes that the transactions reported on this Form 4 are exempt under Rule 16a-13. These transactions did not result in any change in the number of shares of Citigroup common stock beneficially owned by the Reporting Person. The transactions described on this Form 4 involve a simultaneous (a) sale by the Reporting Person of Citigroup common stock, (b) acquisition of interests in Citiacciones Flexible, S.A. de C.V., Sociedad de Inversion de Renta Variable ("Citifle"), a Mexican open-end mutual fund, for the same aggregate sale price and (c) purchase by Citifle of Citigroup common stock in such amount as is equal to the number and value of shares sold by the Reporting Person.
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