Pre-close Briefings with Analysts

Barclays PLC 6 December 1999 BARCLAYS PLC PRE-CLOSE BRIEFINGS WITH ANALYSTS Barclays PLC ('Barclays') will be meeting analysts ahead of its close period for the year ended 31st December 1999. In the third quarter of 1999, all the Group's businesses continued the good performance experienced in the first half of 1999. Key trends affecting the performance are as follows: Net interest income: Within Retail Financial Services consumer lending growth has continued, albeit at a slower rate than the first half of 1999 reflecting lower market growth trends. At 30th September 1999, UK credit card receivable outstandings were £6.1bn (30th June 1999: £5.8bn). In Corporate Banking there has been modest growth in loans to corporates in the United Kingdom during the third quarter of the year. In the third quarter UK retail deposits have seen steady growth in line with the market and at a similar rate to the first half of the year, while UK corporate deposits remained broadly flat. Within Retail Financial Services in the third quarter, the overall UK lending margin has improved slightly as a result of a change in business mix and the overall UK deposit margin has narrowed as a result of some pricing pressure. During the third quarter. With in Corporate Banking, the overall UK lending margin has been was broadly maintained and the overall UK deposit margins have narrowed slightly as result of a change in business mix. Net fees and commissions: In Retail Financial Services, fees and commissions continued to grow in the third quarter predominantly as a result of an increase in assets under management during 1999. In Corporate Banking improved levels of lending and acquisition finance fees reflected continued growth in demand from corporates in the United Kingdom. Money transmission income levels in Corporate Banking remained flat as a result of pricing pressure and the switch to electronic products. Dealing profit levels within Barclays Capital for the second half of the year are still expected to be lower than the first six months of 1999 as a result of an anticipated slow down in activity in the run up to the year end; notwithstanding a good performance in the third quarter.Barclays Capital produced good third quarter results, following its strong performance in the first half of the year. Dealing profits are still expected to be somewhat lower in the second half, reflecting an anticipated slow down in market activity in the run up to the millenniumyear end. Barclays Global Investors' assets under management at 31st October were1999 were at a similar level to £433 billion at approximately £xx0 billion at 31st October 1999 compared with (30th June 1999 (: £434bn£434 billion at 30th June 1999). In this four month period, underlying net new business and market growth was offset by adverse exchange rate translation movements as a result of net new business being offset by foreign exchange movements. Group total costs of the ongoing business in 1999 are expected to be no higher than the 1998 level (£4,877 million), excluding the restructuring charge (in respect of the programme to reduce job numbers primarily in Retail Financial Services and Corporate Banking. Provisions for bad and doubtful debts: The overall Group net charge for the second half is expected to be at a similar level to the first half of 1999. Weighted risk assets in the third quarter within Retail Financial Services and Corporate Banking have continued to grow at a similar rate to the first half 1999. Barclays Capital continues to operate at weighted risk asset levels between £30 billion and £35 billion. Barclays completed its proposed £500 million share buy back programme for the year, purchasing for cancellation 27.8 million of its ordinary shares. In summary, Barclays continues to build on its strong first half performance, is set to meet its objectives of growing income and controlling costs to deliver a good performance for the year. The 1999 Preliminary Full Year Results will be announced on Tuesday 15th February 2000. For further information please contact: Investor Relations Media Relations Ian Roundell Leigh Bruce 0171 699 2961 0171 699 2658 Emma Savage Maria Darby 0171 699 2960 0171 699 2970

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