
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, February 22, 1991                   TAG: 9102220223
SECTION: NATIONAL/INTERNATIONAL                    PAGE: A-5   EDITION: METRO 
SOURCE: The New York Times
DATELINE: NEW YORK                                LENGTH: Short

SAUDI PRINCE INVESTS $590 MILLION IN CITICORP

Citicorp, the nation's largest banking company, said Thursday that a member of the Saudi royal family, Prince Waleed bin Talal, had agreed to invest $590 million. The investment will make Waleed the largest single shareholder in Citicorp.

The prince, who quietly bought 4.9 percent of Citicorp's common stock in the last months of 1990, eventually could own as much as 14.9 percent of the company if he converts the new preferred stock to common stock. But he will not be represented on Citicorp's board and has promised not to try to gain control of the company.

Citicorp, encouraged by the Federal Reserve to improve its financial condition, has been trying since October to raise $1 billion to $1.5 billion in capital from investors around the world.

by CNB