UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------------------------------------------------------------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
CELL THERAPEUTICS, INC.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
0001509341
(CUSIP Number)
- -------------------------------------------------------------------------------
Check the following box if a
fee is being paid with this statement. [ ]
<PAGE>
2
CUSIP No. 0001509341
(1) Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Citibank, N.A.; 13-5266470
----------------------------------------------------------------------
----------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of Group (See Instructions)
[ ] (a)
-----------------------------------------------------------------
[ ] (b)
-----------------------------------------------------------------
(3) SEC Use Only
---------------------------------------------------------
----------------------------------------------------------------------
(4) Citizenship or Place of Organization New York
---------------------------------
Number of (5) Sole Voting Power 0
Shares -----------------------------------
Beneficially -------------------------------------------------------------
Owned by (6) Shared Voting Power 631,655
Each ---------------------------------
Reporting -------------------------------------------------------------
Person (7) Sole Dispositive Power 0
With ------------------------------
------------ -------------------------------------------------------------
(8) Shared Dispositive Power 631,655
----------------------------
-------------------------------------------------------------
-------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
631,655
----------------------------------------------------------------------
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
----------------------------------------------------------------------
----------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
4.1%
----------------------------------------------------------------------
(12) Type of Reporting Person (See Instructions) BK*
--------------------------
---------------
* The reporting person is a pledgee with limited voting and dispositive power
pursuant to certain voting trust agreements. The reporting person disclaims
beneficial ownership of these securities, and this report shall not be deemed an
admission that the reporting person is the beneficial owner of such securities
for purposes of Section 13 or for any other purpose.
<PAGE>
3
Item 1. Issuer
(a) Cell Therapeutics, Inc.
(b) 201 Elliott Avenue, W., Suite 400
Seattle, WA 98119
Item 2. Persons Filing
(a) Name of Persons Filing: Citibank, N.A.
(b) Address of Principal Offices:
399 Park Avenue,
New York, New York 10043
(Citibank, N.A.)
(c) Citizenship: New York
(Citibank, N.A.)
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 0001509341
Item 3. If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of
the Act
(b) [XX] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Section
3(a)(19) of the Act
(d) [ ] Investment Company registered under Section 8
of the Investment Company Act
(e) [ ] Investment Adviser registered under Section 203
of the Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see ss. 240.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with ss.
240.13d-1(b)(ii)(G)
(h) [ ] Group in accordance with ss.
240.13d-1(b)(1)(ii)(G)
Item 4. Ownership
(a) Citibank, N.A.: 631,655;
(b) Citibank, N.A.: 4.1%;
<PAGE>
4
(c) (i) -0-;
(ii) Citibank, N.A.: 631,655;
(iii) -0-;
(iv) Citibank, N.A.: 631,655.
Item 5. Ownership of Five Percent or Less of a Class
This statement is being filed to report that as of the date hereof
the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities. [ ]
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not
acquired and are not held in connection with or as a participant in
any transaction having that purpose or effect.
<PAGE>
5
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 16, 1999
CITIBANK, N.A.
By: /s/ Melissa Tanklefsky
----------------------------
Name: Melissa Tanklefsky
Title: Vice President
