Acquisition

Barclays PLC
19 January 2007


                                                               19th January 2007



                                  BARCLAYS PLC


        Barclays to acquire EquiFirst from Regions Financial Corporation


Barclays Bank PLC ('Barclays') announces that it has entered into an agreement
to purchase EquiFirst Corporation, the non-prime mortgage origination business
of Regions Financial Corporation ('Regions'), for a consideration of
approximately US$225 million (£115 million). Completion is expected in the first
half of 2007, subject to the receipt of the required licences and applicable
regulatory approval. In the third year of ownership, Barclays expects to achieve
an annual post-tax return on this investment in excess of 20%. Barclays will
finance the transaction out of existing cash resources.

EquiFirst is the 12th largest non-prime wholesale mortgage originator in the
United States. It originates its loans through over 9,000 brokers in 47 states.
It will be combined with Barclays mortgage servicing and capital markets
capabilities to create a vertically integrated mortgage franchise. Barclays
believes that a vertically integrated mortgage franchise can deliver significant
synergies through linking our established capital markets business with
servicing and origination capabilities.

Barclays Capital currently has an active wholesale loan mortgage business in the
US which involves the purchase and securitisation of mortgages on a principal
basis. All the loans originated by EquiFirst are expected to be securitised or
sold on an ongoing basis after an average hold period of approximately 2 to 3
months. This acquisition builds on the recent purchase of HomEq, a mortgage
servicing platform, acquired by Barclays in November 2006.

Grant Kvalheim, Co-President of Barclays Capital, commented, 'I am delighted to
acquire such a strong management team within EquiFirst and we welcome the
EquiFirst staff to Barclays Capital. This acquisition offers Barclays Capital an
excellent opportunity to further vertically integrate and expand our existing US
mortgage business.'

Dowd Ritter, President and CEO of Regions Financial (NYSE:RF), said, 'This sale
is the result of a tighter focus on our strategic priorities. Regions is
concentrating on customer relationships and core businesses in our 16-state
footprint. We operate in very attractive markets in the South, Midwest and Texas
and believe they represent the greatest potential for success.'

Jeff Tennyson, CEO of EquiFirst, said, 'Regions' ownership of EquiFirst over the
last 8 years has allowed us to build a premier mortgage lender in the non-prime
industry. Barclays Capital is a leading international investment bank that will
strengthen our position as an industry leader and greatly enhance our access to
the global capital markets. The sale of EquiFirst to Barclays Capital is a clear
positive event for all stakeholders.'


                                    - ENDS -


For further information please contact:


Barclays

Investor Relations                     Media Relations
Mark Merson/James S Johnson            Alistair Smith/Laura Vergani
[phone]/2927              [phone]/8335


                                       Contact at Barclays Capital in New York:
                                       Peter Truell
                                       [phone]


Regions Financial Corporation

Investor Relations                     Media Relations
List Underwood                         Rick Swagler
[phone]                      [phone]



About Barclays

Barclays Bank PLC is a major global financial services provider engaged in
retail and commercial banking, credit cards, investment banking, wealth
management and investment management services. We are one of the largest
financial services companies in the world by market capitalisation. With over
300 years of history and expertise in banking, Barclays operates in over 60
countries and employs around 120,000 people, we move, lend, invest and protect
money for over 25 million customers and clients worldwide. For further
information about Barclays PLC please visit our website www.barclays.com.


About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC which
has an AA long-term credit rating and a balance sheet of over £986 billion
(US$1.8 trillion*). With a distinctive business model, Barclays Capital provides
large corporate, government and institutional clients with solutions to their
financing and risk management needs. Barclays Capital has offices in 26
countries, employs over 10,500 people and has the global reach and distribution
power to meet the needs of issuers and investors worldwide. Barclays Capital
completed the acquisition of HomEq, the US mortgage servicing business, in the
second-half of 2006, which added 1,300 employees. For further information about
Barclays Capital, please visit our website www.barclayscapital.com.*US$ figure
was derived using the US$/£ exchange rate at 30.06.06 of US$1.85/£1.


About Regions Financial Corporation

Regions Financial Corporation is a member of the S&P 100 Index and Forbes
Magazine's 'Platinum 400' list of America's best big companies. With more than
US$140 billion in assets, Regions is one of the nation's largest full-service
providers of consumer and commercial banking, trust, securities brokerage,
mortgage and insurance products and services. Regions serves customers in 16
states across the South, Midwest and Texas, and through its subsidiary, Regions
Bank, operates some 2,000 AmSouth and Regions banking offices and more than
2,400 ATMs. Its investment and securities brokerage, trust and asset management
division, Morgan Keegan & Company Inc., provides services from over 300 offices.
Additional information about Regions and its full line of products and services
can be found at www.regions.com.


Forward-looking statements

This document contains certain forward-looking statements within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, and Section
27A of the US Securities Act of 1933, as amended, with respect to certain of
Barclays plans and its current goals and expectations relating to its future
financial condition and performance, in particular with respect to Barclays
Capital. These forward-looking statements can be identified by the fact that
they do not relate only to historical or current facts. Forward-looking
statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect',
'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar
meaning. Examples of forward-looking statements include, among others,
statements regarding Barclays future financial position, income growth,
impairment charges, business strategy, projected levels of growth in the banking
and financial markets, projected costs, estimates of capital expenditures, and
plans and objectives for future operations.

By their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances, including, but not limited to,
global as well as US economic and business conditions, market related risks such
as changes in interest rates and exchange rates, the policies and actions of
governmental and regulatory authorities, changes in legislation, and the impact
of competition - a number of which factors are beyond Barclays control. As a
result, Barclays actual future results may differ materially from the plans,
goals, and expectations set forth in Barclays forward-looking statements. Any
forward-looking statements made by or on behalf of Barclays speak only as of the
date they are made. Barclays does not undertake to update forward-looking
statements to reflect any changes in Barclays expectations with regard thereto
or any changes in events, conditions or circumstances on which any such
statement is based. The reader should, however, consult any additional
disclosures that Barclays has made or may make in documents it has filed or may
file with the SEC.



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