Acquisition

Barclays PLC
22 June 2006


                                                                  22nd June 2006


   BARCLAYS PLC TO ACQUIRE US MORTGAGE SERVICING BUSINESS OF HOMEQ SERVICING
                     CORPORATION FROM WACHOVIA CORPORATION

Barclays Bank PLC ('Barclays') announces that it has entered into an agreement
to purchase the US mortgage servicing business of HomEq Servicing Corporation
from Wachovia Corporation ('Wachovia') for a consideration of $469 million. This
consideration represents net book value for the mortgage servicing rights
('MSR') and fixed assets, and $209 million in respect of advances, the
collection of which is fully indemnified by Wachovia. The consideration is
subject to an adjustment mechanism based on the value of the MSR and advances at
completion of the transaction. Completion is subject to various conditions
including regulatory consents. Barclays will finance the transaction out of
existing cash resources.

This transaction will add further capabilities to Barclays Capital's successful
mortgage securitisation franchise in the US.

Grant Kvalheim, Co-President of Barclays Capital, commented, 'This is a great
opportunity for Barclays Capital to add an additional first-class operation to
its US business. This transaction will enable us to grow our existing US
mortgage securitisation franchise. It will improve our ability to price deals,
manage risk and expand our list of counterparties.'

                                    - ENDS -


For further information please contact

Investor Relations                      Media Relations
Mark Merson/James S Johnson             Alistair Smith/Jo Thethi
[phone]/2927               [phone]/6217

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

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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