Acquisition

Barclays PLC
07 February 2008

                                                                 7 February 2008


                                  Barclays PLC

             Barclays to acquire Discover's UK credit card business

Barclays Bank PLC ('Barclays') has agreed to acquire Discover's UK credit card
business for a consideration of approximately £35m, payable in cash.

Under the agreement, Barclays will purchase Discover's UK credit card business
('the Business'), consisting of approximately 1.7 million credit card accounts
with approximately £2.0 billion of gross receivables (Note 1); the Goldfish
brand; its operating facilities and staff; and certain legal entities. Barclays
intends to integrate the Business into its credit card division, Barclaycard.

The consideration is subject to an adjustment mechanism based on the net asset
value of the Business at completion, which is estimated to be £129m (Note 2).
Completion is subject to various conditions, including competition clearance,
and is expected to occur during the first half of 2008.

Antony Jenkins, Chief Executive of Barclaycard, said:  'Barclaycard is one of
the largest card issuers in the UK with acknowledged expertise in risk
management, customer data management and marketing.  Discover's UK credit card
business has similar credit characteristics to our existing UK business. The
combination provides an attractive opportunity to deploy our expertise across a
larger number of cards and customers.'

                                    - Ends -

Note 1: On a managed basis.
Note 2: Estimated net asset value on a managed basis using US generally accepted
accounting principles.


For further information please contact

Barclays

Investor Relations                     Media Relations
Mark Merson                            Alistair Smith (Barclays)
[phone]                   [phone]

Neil Temple                            James Cooke (Barclaycard)
[phone]                   [phone]

Discover

Investor Relations                     Media Relations
Craig Streem                           Leslie Sutton
[phone]                        [phone]


About Barclays
Barclays is a major global financial services provider engaged in retail and
commercial banking, credit cards, investment banking, wealth management and
investment management services with an extensive international presence in
Europe, the USA, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in
over 50 countries and employs over 127,000 people. Barclays moves, lends,
invests and protects money for over 27 million customers and clients worldwide.
For further information about Barclays, please visit our website
www.barclays.com.

About Barclaycard
Barclaycard is a multi-brand credit card and loans business which also processes
card payments for retailers and merchants and issues credit and charge cards to
corporate customers and the UK Government. It is one of Europe's leading credit
card businesses and has an increasing presence in the United States.

In the UK, Barclaycard comprises Barclaycard, Sky Card, Thomas Cook and Argos
branded credit cards and FIRSTPLUS secured lending. Barclaycard also manages
card operations on behalf of Solution Personal Finance.

Outside the UK, Barclaycard provides credit cards in the United States, Germany,
Spain, Italy, Portugal, India, the United Arab Emirates and Africa. In the
Nordic region, Barclaycard operates through Entercard, a joint venture with
ForeningsSparbanken (Swedbank).

Key facts:

Number of UK card customers: 9.6m
Barclaycard International cards in issue: 7.6m
Number of Barclaycard Business retailer/merchant relationships: 95,000


About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card issuer and
electronic payment services company with one of the most recognized brands in
U.S. financial services. The company operates the Discover Card, America's cash
rewards pioneer. Since its inception in1986, the company has become one of the
largest card issuers in the United States. Its payments businesses consist of
the Discover Network, with millions of merchant and cash access locations, and
PULSE, one of the nation's leading ATM/debit networks. For more information,
visit www.discoverfinancial.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. 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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