For employees of the Travelers Corporation who, before January 1, 1987, elected to make Qualified Voluntary Employee Contributions ("Travelers QVECs") to the Plan.

Loans previously repaid only to the Fixed-Income Securities Fund will be repaid according to current investment elections.

Before 1987, you could contribute to the Plan on a before-tax basis, but there were no Company Matching Contributions on these deposits. These contributions are known as QVECs.

Amounts in your QVEC Account relating to the Travelers plan may be withdrawn at any time and are payable without charge when you retire, become disabled, or die. Your Travelers QVEC amounts will be paid to you in a lump sum, in installments, as an annuity, or in a combination of forms as you elect.

Because these contributions were not taxed when they were deposited into the Plan, they will be subject to income taxes when paid to you. The 10% excise tax on early withdrawals may also apply if you receive Travelers QVEC amounts before age 59-1/2. The rules regarding rollovers and mandatory 20% withholding and minimum distribution requirements at age 73 also apply. In addition, there may be other federal and state tax implications. Consult your professional tax adviser before requesting a distribution.

If you are a former Copeland employee or a former employee of either First American Bank or Citibank Texas: In addition to the forms of payment available to all participants in the Plan (described under Forms of Payment), you also can choose a 50% joint and survivor annuity with your spouse as beneficiary.

If you are a former Citibanamex employee: In addition to the forms of payment available to all participants in the Plan (described under Forms of Payment), you also can choose a single life annuity, a joint and 75% survivor annuity with either a spouse or non-spouse beneficiary, a joint and 50% survivor annuity for a non-spouse beneficiary, and a term-certain annuity with guaranteed payments for five, 10, 15 or 20 years.