Property Index Certificates

Barclays PLC 15 January 2001 BARCLAYS PROPERTY INDEX CERTIFICATES 'PICs' Notification of Monthly Proxy Index and Monthly Proxy Capital Growth Index IPD Annual Capital IPD Annual Growth Index (1) Index (1) Dec 1998 (as restated by IPD March 1999) 176.89148 569.87819 Dec 1999 (as certified by IPD March 2000) 190.03283 652.44875 Monthly Proxy Monthly Proxy Capital Growth Index (2) Index (2) November 2000 (estimated by IPD December 2000) 196.4 714.0 December 2000 (estimated by IPD January 2001) 196.6 719.2 Capital Growth Total Return In month of December 2000 0.1% 0.6% In 2000 to end December 3.5% 10.2% Source: Investment Property Databank Limited ('IPD') Notes 1. The index referred to as the IPD 'Annual Index' is the Investment Property Databank All Property (Standing Investments excluding Active Management) Annual Total Return Index. The IPD Annual Capital Growth Index is a component of the Annual Index and both are calculated by IPD from information held in its annual database which at 31st December 1999 contained information relating to individual properties having an aggregate value of approximately £87.4bn. 2. IPD compiles monthly indices as proxies for the Annual Index (the 'Monthly Proxy Index') and for the Annual Capital Growth Index (the 'Monthly Proxy Capital Growth Index') for the preceding month. The Monthly Proxy Index and the Monthly Proxy Capital Growth Index are estimated by reference to information contained in the monthly database, which at the end of December 1999 contained information relating to individual properties having an aggregate value of approximately £8.5bn. As these indices are intended to be proxies for the Annual Index and the Annual Capital Growth Index, the constituent information is re-weighted by sector, property type and region to reflect the portfolio of properties used in the calculation of the Annual Index and the Annual Capital Growth Index. Investment Property Databank Limited ('IPD') will not be liable to any holder of Barclays Property Index Certificates for any loss or damage as a result of any error in any of the above mentioned indices. This information has been prepared by IPD. Whilst it is deemed to be reliable, neither Barclays Bank PLC nor Barclays Global Investors Limited represents that such information is accurate or complete and it should not be relied upon as such. The prices of investments which trade in limited markets may go up or down. No part of this publication may be reproduced in any manner without the written permission of Barclays Global Investors Limited. Charles House, 5-11 Barclays Global Investors Limited Regent Street London SW1Y 4LR Registered in London England, No: 796793 Telephone : 020- 7747 1700. Registered Office : 54 Lombard Street, London Fax : 020-7839 7460. EC3P 3AH This publication has been approved by Barclays Global Investors Limited Contact : Iain A. Reid FRICS or regulated by IMRO. Andrew P.R. Thomson ARICS January 15, 2000

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