Citi Preferreds get to vote

http://www.citigroup.com/citi/fin/data/sec090618a.pdf?ieNocache=321

Here’s the link to the S-4 on page 53 of PDF. You are fighting losing battle. Time to buy preferred and sell common?

Pursuant to the Common Proxy Statement, we are soliciting your Proxy Instructions in respect of the shares
of Common Stock that you will receive if we accept any Public Preferred Depositary Shares or Trust Preferred Securities for exchange in the Exchange Offers.

We will not accept your Public Preferred Depositary Shares or Trust Preferred Securities for exchange
unless you follow the procedures contained in the letter of transmittal related to the applicable Exchange Offer to instruct the Voting Trustee of the Voting Trust to grant a proxy to the individuals designated by Citigroup in the Voting Trust Agreement to execute a written consent to approve each of the Common Stock Amendments in respect of the Common Stock to be issued to you in the Exchange Offers. If we accept your Public Preferred Depositary Shares or Trust Preferred Securities for exchange in the Exchange Offers, your Proxy Instructions will become (and the proxy granted by the Voting Trustee will be) irrevocable, and you will not be able to change your vote.

Approval of the Common Stock Amendments requires the affirmative written consent of a majority of the
shares of our Common Stock outstanding at the close of business on the record date for the Common Stock
Amendments, which will be the settlement date of the Exchange Offers.

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• Citi’s common stock is now worth less than the government pumped into the company last month.
• Think everything is okay in financial land. Guess again.
• Citigroup (c)’s long-term outlook: Bullish

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