Re Joint Venture

Barclays PLC
04 February 2005


                                                                 4 February 2005


               BARCLAYS AND FORENINGSSPARBANKEN PARTNER TO LAUNCH
                          NORDIC CREDIT CARD OPERATION


4th February - Barclays PLC (Barclays) and ForeningsSparbanken (FSB), also known
as Swedbank, have signed an agreement to form a joint venture (JV) to provide
credit cards in the Nordic market, subject to confirmatory due diligence and
regulatory approvals.

Barclaycard, one of Europe's leading card and consumer finance businesses and
FSB, Sweden's leading retail bank, aim to build a market-leading, pan-Nordic
credit card business. With average incomes among the highest in Europe, low
credit card penetration and a strong economic outlook, the Nordic market has
excellent potential for growth.

FSB is placing all of its credit, charge and store card business across Sweden
and Norway into the JV, which will continue to provide card products to FSB
customers. Barclays is investing £76.5 million for a 50% economic interest and
will finance the transaction from existing cash resources.

The JV will be headquartered in Stockholm and will start with some 500,000
customers and approximately £280 million in credit card receivables, split
roughly equally across Sweden and Norway. The JV will offer FSB's 4.1 million
retail banking customers competitive and attractive new card products providing
opportunity to drive organic growth. The JV also sees significant potential in
the open market and across the Nordic region.

Following the acquisition of Juniper Financial Corporation in the USA last year,
this move is a further extension of Barclays strategy to grow its global product
businesses. Barclays has an objective that, within ten years, the international
credit card business of Barclaycard should be as meaningful a contributor to the
Group as Barclaycard UK. In addition to the USA, Barclaycard has operations in
countries such as Germany, Spain, Italy, Portugal and South Africa.

'This is a powerful partnership which combines FSB's customer and distribution
strengths in Scandinavia with Barclaycard's leading-edge risk management and
customer acquisition skills,' comments Barclaycard Chief Executive, Gary
Hoffman.

'With access to Barclaycard's skills and extensive international experience in
credit cards and consumer credit, we will be able to serve customers with
exciting new products and features,' says Jan Liden, President and CEO of FSB.

- ends -

Contact at Barclays:

Ian Barber
Head of Public Relations, Barclaycard
Tel: + 44 (0) 1604 25 1229

James S Johnson
Investor Relations, Barclays
Tel: [phone]


About Barclays PLC

Barclays PLC is a major global financial services provider primarily offering
banking, investment banking and investment management services. Present in over
60 countries, Barclays is a leading provider of global services employing over
76,200 people worldwide. With over 300 years of history and expertise in
banking, Barclays PLC has six major divisions. UK Banking, delivers banking
products and services to over 14 million personal customers and 746,000
businesses in the UK. Barclaycard, is one of the leading credit card businesses
in Europe with 11.9 million credit card customers across the UK and Europe.
Barclaycard now incorporates all of the Group's UK secured and card lending
products and expertise. Barclays Capital, the investment banking division, which
provides corporate, institutional and government clients with solutions to their
financing and risk management needs. Barclays Global Investors, one of the
world's largest asset managers and a leading provider of investment management
products and services. Private Clients, Barclays wealth management operation,
with over 375,000 affluent and high net worth clients. International Retail and
Commercial Banking, the global retail and commercial banking operation, with 2.2
million international clients, in countries which currently include the
Caribbean, France, Spain, Portugal, Italy and Africa. For more information about
Barclays PLC, please visit www.barclays.com


About ForeningsSparbanken

ForeningsSparbanken is one of the leading banking groups in the Nordic countries
with total assets of SEK 1,004 billion, 4.2 million household customers and
225,000 corporate customers in its home market. Its own 496 branches and the 289
belonging to the independent and partly owned savings banks together constitute
Sweden's largest distribution network for financial products and services. The
Group also holds a market-leading position in the Baltic countries of Estonia,
Latvia and Lithuania through its Hansabank subsidiary. ForeningsSparbanken is
the dominant issuer and acquirer of debit cards in Sweden, with market shares
exceeding 50 percent. ForeningsSparbanken's customers are primarily households,
SMEs, municipalities, county councils and a number of large corporations. The
Group's services are focussed on savings and asset management, residential
mortgages and financing, payments and transfer services. For more information
about ForeningsSparbanken AB, please visit www. ForeningsSparbanken.se.


This document is presented by Barclays PLC and its subsidiary undertakings
(together 'the Group'). It 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 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan',
'goal', 'believe', or other words of similar meaning. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances, including UK domestic and global economic and
business conditions, market related risks such as interest rate and exchange
rate risks, the policies and action of governmental and regulatory authorities,
changes in legislation and the impact of competition, a number of which 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 up-date forward-looking statements to reflect any changes in
Barclay's 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 US Securities and Exchange
commission.




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