Updated from 8:27 a.m. EDT

The list of corporate executives who got shares in hot initial offerings from Citigroup's ( C) Salomon Smith Barney investment banking division includes former WorldCom chairman Bernard Ebbers and possibly former Qwest ( Q) Chief Executive Officer Joseph Nacchio.

Information released late Tuesday by the House Financial Services Committee, which has been looking into Citigroup's role in the collapse of the long-distance carrier WorldCom, reveals that top executives at companies such as WorldCom, Qwest, McLeod, Williams ( WMB) and NextLink were on a "wish list" seeking shares in two IPOs underwritten by Salomon investment bankers.

The list of corporate executives was in a packet of information provided to the House panel late Monday by Citigroup. The nation's largest financial-services firm had released some of that information to the press, but not the names of corporate executives who were allocated shares in some of the bank's bull market IPOs.

Much of what Citigroup made public on its own was a letter to the panel, in which the bank conceded that it had given certain unnamed WorldCom executives access to thousands of hot IPO shares in the late 1990s. Citigroup, which provided the information only after being served with a congressional subpoena, said in the letter that the practice of doling out shares to corporate executives was nothing out of the ordinary.

But the more detailed information posted by the House panel on its Web site says that Ebbers, for instance, got shares in the IPOs of companies ranging from Juniper Networks to Juno Online to Rhythms NetConnections to UPS. Scott Sullivan, WorldCom's former chief financial officer who is facing fraud charges stemming from the telecom's collapse, also got shares in Rhythms NetConnections, as well as Travelers Property Casualty, which Citigroup spun off in a March IPO.

The Citigroup documents reveal that nearly two dozen executives at telecommunication companies that Salomon did investment banking work either got shares or later obtained stock in Rhythms NetConnections and Juno -- two technology companies that Salomon was the lead undewriter on.

Before its merger with Citigroup, Salomon even allocated 205,000 shares of Qwest to Ebbers in June 1997, the documents show. Former Qwest Chairman Phil Anschutz also shows up on the Salomon wish list though it's unclear if he ever got any shares.

The documents also show that Jack Grubman, the former Salomon telecom analyst who left the firm two weeks ago in a swirl of controversy, was listed as one of the Salomon executives who received copies of those reports. A Citigroup spokeswoman was unavailable for comment.

The latest documents are sure to ignite even more scrutiny of Citigroup, which is getting lots of heat from Congress for doling out IPO shares to telecom executives in the latter 1990s in a practice called "spinning." Salomon collected millions of dollars in fees from WorldCom for investment banking services while Grubman consistently praised the company, even as its fortunes went sour.

Grubman, while testifying before the House panel in early July, said he couldn't recall if any WorldCom executives were given shares in hot IPOs by Salomon. Grubman, who made $20 million a year at the height of the bull market, left the firm with an estimated $23 million severance package.

The House committee has been probing whether Salomon used access to shares in newly public companies -- shares that almost always rose during the bull market years -- to lure and keep WorldCom as an investment banking client.

Salomon says it allocated on average 6,400 shares to roughly four WorldCom officers and directors starting in late 1997, Citigroup said in a letter to the committee. Its predecessor, Salomon Brothers, allocated an average of 101,500 shares, the firm said.

"The IPO allocations to WorldCom officers and directors at issue here were reasonable since these were high net worth individuals and substantial retail clients," Citigroup lawyer Jane Sherburne said in the letter. "Existing rules and industry practice give firms a broad range of discretion in granting IPO allocations and we believe we acted well within that broad range," she said.

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