Disposal

Barclays PLC
02 October 2006


                                                               2nd October, 2006

                                  BARCLAYS PLC

   Barclays announces agreement for the disposal of vendor finance businesses
                                     to CIT

Barclays Bank PLC ('Barclays') has agreed to sell certain of its vendor finance
businesses in the United Kingdom and Germany ('the vendor finance businesses')
to CIT Group Inc. ('CIT') of the United States of America.

The vendor finance businesses operate within Barclays Asset & Sales Finance,
which is the specialist commercial asset finance provider within UK Business
Banking. The vendor finance businesses provide asset finance to customers of
manufacturers and suppliers in the industrial equipment and technology markets
throughout the UK and Germany.

The gross assets of the vendor finance businesses to be sold amounted to
approximately £1.1 billion as at 30th June 2006, about 12% of the gross assets
of Barclays Asset & Sales Finance. Approximately 60% of the gross assets to be
sold were originated in the UK with the balance in Germany. As part of the
acquisition CIT will also take on the vendor finance sales and administration
staff in the UK and Germany. Barclays will retain its successful controlling
interest in Iveco Finance.

The completion of the sale is conditional upon receiving clearance from the
relevant regulatory authorities and other customary closing conditions. The
transaction is expected to close at the end of 2006.


Naguib Kheraj, Group Finance Director, Barclays PLC, said: 'This transaction
leaves Barclays Asset & Sales Finance well positioned for its future
development. Significant investment will be focused on its core asset and sales
finance business including the ongoing expansion of its successful direct
leasing business. The future strategy of the vendor finance businesses is now
best pursued within a specialised leading global provider of asset finance
solutions.'

Jeffrey M. Peek, Chairman and Chief Executive Officer of CIT said: 'We are very
pleased with this transaction as it represents a major growth opportunity within
a core business, accelerates our international expansion and solidifies our
position as a leading provider of global vendor finance solutions.'

                                    - ENDS -

For further information please contact:

Barclays

Investor Relations                     Media Relations

Mark Merson/James S Johnson            Tracy Goodyer/Robin Tozer
[phone]/2927               [phone]/6586

CIT

Investor Relations                     Media Relations

Steve Klimas                           Andrew Walton, Financial Dynamics
[phone]                        [phone]

                                       C. Curtis Ritter
                                       [phone]


About Barclays

Barclays 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. Operating in over 60 countries
and employing over 118,000 people, we move, lend, invest and protect money for
over 25 million customers and clients worldwide. With over 300 years of history
and expertise in banking, Barclays has six major businesses.

UK Banking delivers banking products and services to over 14 million retail
customers and 788,000 businesses in the UK. UK Banking includes UK Retail
Banking and UK Business Banking.

Barclaycard is one of the leading credit card businesses in Europe and has 11.2
million UK customers and 5.3 million international cards in issue.

Barclays Capital, the investment banking division, provides corporate,
institutional and government clients with solutions to their financing and risk
management needs.

Barclays Global Investors is one of the world's largest asset managers and a
leading provider of investment management products and services. The total
assets under management at 30th June, 2006 were US$1.6 trillion.

Wealth Management serves affluent, high net worth and intermediary clients
worldwide, providing private banking, asset management, stockbroking, offshore
banking, wealth structuring and financial planning services. At 30th June, 2006,
total client assets were £84.7 billion.

International Retail and Commercial Banking is our global retail and commercial
banking operation, with over 2 million international clients, in geographies
which currently include France, Spain, Portugal, Italy, India, Africa and the
Middle East. Absa has an additional 8.0 million retail customers in South
Africa.

www.barclays.com


About CIT

CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company,
provides clients with financing and leasing products and advisory services.
Founded in 1908, CIT has US$68 billion in managed assets and possesses the
financial resources, industry expertise and product knowledge to serve the needs
of clients across approximately 30 industries worldwide. CIT, a Fortune 500
company and a member of the S&P 500 Index, holds leading positions in vendor
financing, factoring, equipment and transportation financing, Small Business
Administration loans, and asset-based lending. With its global headquarters in
New York City, CIT has more than 7,000 employees in locations throughout North
America, Europe, Latin America and Asia.

www.CIT.com


Disclaimer

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 the
Group's 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 the Group's 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,
the further development of standards and interpretations under IFRS applicable
to past, current and future periods, evolving practices with regard to the
interpretation and application of standards under IFRS, as well as UK domestic
and global 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, progress in the
integration of Absa into the Group's business and the achievement of synergy
targets related to Absa, the outcome of pending and future litigation, and the
impact of competition - a number of which factors are beyond the Group's
control. As a result, the Group's actual future results may differ materially
from the plans, goals, and expectations set forth in the Group's 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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