Trading Statement

Barclays PLC
4 June 2001



June 4, 2001




BARCLAYS PLC

                      PRE-CLOSE BRIEFINGS WITH ANALYSTS





Barclays PLC ('Barclays') will be meeting analysts ahead of its close period
for the half-year ended 30th June 2001.



Notwithstanding generally less favourable market conditions, Barclays made
good progress in the first quarter of the year, building on the success of
1999 and 2000.  This progress was reflected in good income growth across the
Group's diverse portfolio of businesses and a continuing focus on the Group's
productivity programme.  Overall provisions are moving in line with the risk
tendency estimates as disclosed at 31st December 2000.  Barclays remains on
track to meet its targets through continued income momentum, disciplined cost
and risk control and active capital management.



As announced in February 2001, Barclays has further segmented its business to
give greater detail of performance by business unit.  Full restatements of the
published results for 2000 that will be used from and including 2001 are set
out in the appendices.



Key trends below relate to the performance in the first quarter of 2001 and,
where applicable and unless stated otherwise, are compared against the
equivalent period in 2000.  Balance sheet comparisons are in relation to 31st
December 2000.



Overall income showed good growth relative to the first quarter of 2000,
itself a record first quarter for the Group.



Net interest income increased compared to the first quarter of last year.  In
Barclaycard there was continuing good growth in average extended credit
balances but at a rate slightly below market.  In Personal Financial Services
(formerly UK Personal Customers), consumer lending grew strongly relative to
the market albeit that, by virtue of the introduction in 2000 of more
stringent risk criteria, the growth rate was lower than in the first quarter
of 2000.  In Wealth Management there was continued good growth in lending
volumes.  In the first quarter of 2001, The Woolwich mortgage outstandings
grew in line with market.  In Business Banking, lending growth has been at a
slightly slower growth rate than the market.



Average UK savings within Personal Financial Services exceeded market growth
rates.  Deposit balances in Woolwich experienced a net reduction in the first
quarter.  In Business Banking, deposit balances grew ahead of the market.



There was a good improvement in net interest income within Barclays Capital.



The overall Group margin fell relative to the second half of 2000.  This
largely reflected the greater consumption of the total balance sheet by
mortgages (lower margin, lower risk assets) consequent on the Woolwich
transaction.





                                                                        Cont/d


Net fees and commissions experienced good growth in the first quarter of 2001.



Barclaycard's fee income continued to grow, with good volume growth from
corporate customers.  Business Banking's fee income was up quarter on quarter
as a result of increased lending and foreign exchange volumes.  Barclays
Global Investors' assets under management at 31st March 2001 were £520bn, a
similar level as 31st March 2000.  Fee levels at BGI were significantly higher
than those in the same period last year.



In Personal Financial Services, growth in net fees and commissions from
current and savings account products was partially offset by lower consumer
lending related product sales.  Wealth Management fees were lower in the first
quarter of 2001 mainly as a result of lower levels of funds under management
and lower dealing volumes within Stockbrokers.  Commissions in The Woolwich
rose relative to the same period last year.



Dealing profits in Barclays Capital were strong in the first quarter of 2001,
and exceeded those in the first quarter of 2000.



Costs:  Growth in total costs largely reflected the inclusion of The Woolwich.
  Business as usual costs rose modestly.  Strategic investment expenditure was
at a similar level to that in the third and fourth quarters of last year, but
was ahead of the equivalent period last year.  Revenue related costs increased
in line with higher income levels.



Woolwich costs during the first quarter of 2001 mirrored the post acquisition
run-rate.



Provisions for bad and doubtful debts:  Overall provisions for bad and
doubtful debts rose in line with increased activity.



Within Personal Financial Services, net provisions fell in the first quarter
of 2001, mainly as a result of lower provisions in consumer lending reflecting
the introduction in 2000 of the more stringent policies referred to above.
The net provision charge at Barclaycard rose as a result of record prior year
recruitment, increased UK extended credit balances and the continued strong
growth in Barclaycard International lending volumes.  Business Banking's net
provisions charge increased compared to the first quarter of 2000 as a result
of less favourable economic conditions and lower recovery levels, but was
lower than the levels seen in each of the third and fourth quarters of 2000.
Barclays Capital's provisions were mainly in respect of overseas exposures,
and were at similar levels to the first quarter of 2000.



Restructuring charge: The Group restructuring programme has continued into
2001 at broadly similar levels.



The integration of The Woolwich within the Barclays Group continued according
to plan.  The Group is on target to deliver the estimated £80m of pre-tax
synergies in 2001 referred to at the time of the 2000 results announcement.



Goodwill amortisation is being charged at £220m per annum, following the
acquisition of The Woolwich.



The 2001 interim results will be announced on Thursday 2nd August 2001.





                                    (Ends)




For further information please contact:



Investor Relations
                                   Media Relations



Ian Roundell/Raghnall Craighead
   Chris Tucker/Leigh Bruce

020 7699 2961/4525
                             020 7699 3161/2658

















This document contains certain forward-looking statements within the meaning
of the United States Private Securities Litigation Reform Act 1995 with
respect to certain of the Group's plans and its current goals and expectations
relating to its future financial condition and performance, including targeted
economic profit growth and synergy expectations referred to above.  By their
nature, forward-looking statements involve risk and uncertainty because they
relate to events and circumstances, including UK domestic and global economic
business conditions, market related risks such as interest and exchange rates,
the policies and actions of regulatory authorities, the impact of competition,
and the Group's ability to achieve the estimated synergies relating to The
Woolwich (such as the ability to integrate businesses and IT systems within
anticipated timeframes, the success of cross-selling products and the ability
to share data), 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.  A more detailed list of these factors is contained on page 59 of
Barclays Annual Report for 2000.


                                   APPENDIX



                     REPORTING OF GROUP STRUCTURE IN 2001



During 2000, significant changes were made to the Group's organisational
structure, moving from five major business groups to an organisation based on
23 strategic business units (SBUs), which are supported by shared services.
Each SBU has been tasked with identifying and implementing value-maximising
strategies, and achieving these by creating advantage for customers through
superior products and services.



From 1st January 2001, for reporting purposes, the SBUs will be organised into
the following business groups:



-        Personal Financial Services (previously UK Personal Customers)

-        Woolwich

-        Wealth Management

-        Barclaycard

-        Business Banking

-        Africa

-        Barclays Capital

-        Barclays Global Investors



Group structure changes from 2000

The figures in the attached profit and loss accounts have been restated to
take account of the following changes relative to 2000.



Retail Financial Services is presented as three separate business groups for
reporting purposes - Personal Financial Services, Woolwich and Wealth
Management.



The Masterloan consumer lending business, the Investment Management business,
Barclays mortgage business (which were both part of UK Personal Customers), UK
Small Business and Africa are no longer reported within Retail Customers. The
Masterloan business is now part of Barclaycard, the Investment Management
business is now part of Wealth Management and the Barclays mortgage business
is now part of Woolwich.  UK Small Business now operates within Business
Banking and Africa is reported separately.



The wholesale clients within the UK and international large commercial banking
businesses previously reported within Corporate Banking are now managed by and
reported within Barclays Capital.



The majority of central and head office costs have been re-allocated to the
business groups based on the utilisation of the services supplied.



Management of Group capital is the earnings on that part of the Group's
capital which is not allocated to the business groups.  Operating profit for
business groups includes allocations of notional interest based on economic
capital levels (see pages 9 and 10).  This was previously allocated on the
basis of regulatory capital.



The business descriptions and comparative figures for the new reporting
structure are set out below:




Personal Financial Services



This business provides a wide range of services and products to personal
customers throughout the United Kingdom.  It includes consumer lending and
Barclays current account, savings and insurance activities.



                                       2000             31.12.00 30.06.00
                                         £m                   £m       £m
Net interest income                   1,092                  547      545
Net fees and commissions                488                  248      240
Other operating income                  126                   63       63
Total income                          1,706                  858      848
Operating costs                     (1,010)                (494)    (516)
Provisions for bad and doubtful       (277)                (110)    (167)
debts
Operating profit                        419                  254      165
Restructuring costs                    (51)                 (15)     (36)
Profit before tax and exceptional       368                  239      129
items






Woolwich



Woolwich provides personal financial services through multiple delivery
channels (including one of the UK's largest independent financial advisory
teams).  It includes the Group's UK mortgage business and the market leading
Open Plan proposition.




                                   2000             31.12.00 **    30.06.00 *
                                     £m                  £m            £m
Net interest income                 318                 209           109
Net fees and commissions             77                  60            17
Income from long term assurance       5                   5             -
business
Other operating income                4                   4             -
Total income                        404                 278           126
Operating costs                   (170)               (138)          (32)
Provisions for bad and doubtful     (4)                (12)             8
debts
Operating profit                    230                 128           102
Fair value adjustment               (6)                 (6)             -
Restructuring costs                 (4)                 (2)           (2)
Integration costs                   (7)                 (7)             -
Profit before tax and exceptional   213                 113           100
items




*     includes Barclays mortgage business only.

**   includes Barclays mortgage business and operating profit of £70m in
respect of The Woolwich business from 25th October 2000 to 31st December 2000.

Wealth Management



Wealth Management serves affluent and high net worth clients globally with
bespoke, relationship based services in the areas of banking, investment
management, broking and long term financial planning. Wealth Management serves
over 1 million clients across 33 countries worldwide.



                                       2000             31.12.00 30.06.00
                                         £m                   £m       £m
Net interest income                     793                  417      376
Net fees and commissions                579                  278      301
Income from long term assurance         170                   91       79
business
Other operating income                   32                   18       14
Total income                          1,574                  804      770
Operating costs                       (906)                (480)    (426)
Provisions for bad and doubtful debts  (19)                 (14)      (5)
Operating profit                        649                  310      339
Restructuring costs                    (41)                 (30)     (11)
Profit before tax and exceptional       608                  280      328
items






Barclaycard



Barclaycard provides a full range of credit card services to individual and
corporate customers predominantly in the United Kingdom, Germany, France,
Spain and Greece.  It also provides card payment and processing facilities to
retailers and other businesses.



                                          2000             31.12.00 30.06.00
                                            £m                 £m     £m
Net interest income                        685                341    344
Net fees and commissions                   524                269    255
Total income                             1,209                610    599
Operating costs                          (439)              (210)  (229)
Provisions for bad and doubtful debts    (304)              (168)  (136)
Loss from joint ventures                   (2)                (2)      -
Operating profit                           464                230    234
Restructuring costs                        (4)                (4)      -
Profit before tax and exceptional items    460                226    234





Business Banking



Business Banking serves the small, mid corporate, larger corporate (up to £
100m turnover) and agricultural business banking markets in the United Kingdom
and Europe.  It includes the business leasing operation and specialist sales
areas, together with Barclays B2B.com.



                                        2000             31.12.00 30.06.00
                                          £m                  £m      £m
Net interest income                    1,503                 760     743
Net fees and commissions                 787                 402     385
Other operating income                   (7)                (12)       5
Total income                           2,283               1,150   1,133
Operating costs                      (1,055)               (529)   (526)
Provisions for bad and doubtful        (120)                (87)    (33)
debts
Income/(loss) from associated            (6)                   4    (10)
undertakings
Operating profit                       1,102                 538     564
Restructuring costs                     (59)                (29)    (30)
Profit before tax and exceptional      1,043                 509     534
items






Africa



The African businesses provide banking services to personal and corporate
customers in sub-Saharan Africa, North Africa and the Indian Ocean.
Operations include activities in Botswana, Egypt, Ghana, Kenya, Mauritius,
Seychelles, South Africa, Tanzania, Uganda, Zambia and Zimbabwe.



                                          2000             31.12.00 30.06.00
                                            £m                 £m     £m
Net interest income                        181                 92     89
Net fees and commissions                   126                 66     60
Other operating income                       7                  5      2
Total income                               314                163    151
Operating costs                          (157)               (78)   (79)
Provisions for bad and doubtful debts     (47)               (32)   (15)
Operating profit                           110                 53     57
Restructuring costs                       (16)                (4)   (12)
Profit before tax and exceptional items     94                 49     45











Barclays Capital



Barclays Capital conducts the Group's investment banking business.  It
operates in the wholesale markets to provide corporate, institutional and
government clients with solutions to their financing and risk management
needs.  Activities include fixed income, foreign exchange, derivatives,
structured capital markets and money markets sales, trading and research, debt
capital markets, prime brokerage and private equity.



                                       2000             31.12.00 30.06.00
                                         £m                   £m       £m
Net interest income                     512                  259      253
Dealing profits                         680                  260      420
Net fees and commissions*               474                  278      196
Other operating income                   39                   16       23
Total income                          1,705                  813      892
Operating costs                     (1,064)                (522)    (542)
Provisions for bad and doubtful        (66)                 (25)     (41)
debts
Operating profit                        575                  266      309
Restructuring costs                     (2)                  (2)        -
Profit before tax and exceptional       573                  264      309
items




*     net fees and commissions include £81m (half year ended 30th June 2000: £
35m, half year ended 31st December 2000: £46m) internal fees for structured
capital markets activities arranged by Barclays Capital.





Barclays Global Investors



Barclays Global Investors (BGI) is the world's largest institutional asset
manager, delivering high value investment products and strategies to clients
by managing all dimensions of performance: return, risk and cost.  BGI offers
innovative and competitive investment products in both the advanced active and
index categories as well as value chain extensions such as securities lending,
cash management, securities crossing and portfolio restructuring.  BGI counts
some of the most sophisticated investing institutions in the world among its
2,000 clients, in 40 countries.



                            2000                  31.12.00       30.06.00
                              £m                        £m             £m
Net interest income            6                         1              5
Net fees and commissions     435                       239            196
Other operating income       (1)                       (1)              -
Total income                 440                       239            201
Operating costs            (381)                     (214)          (167)
Operating profit              59                        25             34











Other operations



                                          2000             31.12.00 30.06.00
                                            £m                 £m     £m
Property management                         28                 27      1
Central services                          (26)               (16)   (10)
Management of Group capital*                15                 13      2
Operating profit                            17                 24    (7)
Restructuring costs                       (44)               (31)   (13)
Profit before tax and exceptional items   (27)                (7)   (20)




*     Management of Group capital is after charging £81m (half year ended 30th
June 2000: £35m, half year ended 31st December 2000: £46m) of internal fees
for structured capital markets activities arranged by Barclays Capital





Head office functions



                       2000                     31.12.00         30.06.00
                         £m                           £m               £m
Operating costs        (47)                         (26)             (21)
Restructuring costs    (11)                          (9)              (2)
Total costs            (58)                         (35)             (23)






Economic capital



The quantum of economic capital, which is distinct from regulatory capital, is
derived from an estimate of risk, based on contribution to overall Group
volatility.  Each business group is charged for its use of economic capital,
which attracts a cost of risk.  The cost of risk is a component of economic
profit.



The use of economic capital is an integral part of the Group's value-based
management principles.





Economic profit



Economic profit is defined as profit after tax and minority interests
excluding goodwill amortisation, less a charge for the cost of average
shareholders' funds.  Average shareholders' funds now includes purchased
goodwill.


                                                                           2000
                                                                             £m
Profit after tax and minority interests (excluding goodwill               2,524
amortisation)
Average shareholders' funds*                                             10,131
Post tax cost of equity                                                     11%
Cost of average shareholders' funds**                                   (1,095)
Economic profit                                                           1,429



*    Average shareholders' funds includes purchased goodwill.

**  A post tax cost of equity of 8.5% has been used for Woolwich goodwill.


The amount of economic capital and the associated charge for the cost of risk
for each business group is based on an assessment of the capital required to
support the assets held in its balance sheet on an economic basis and on the
business risk incurred by the business groups, taking into account
diversification benefits of the Group's portfolio of businesses.



The analysis of economic capital and economic profit by business cluster for
2000 is set out below:


                                                  Average economic
                                                           capital
                                                                       Economic
                                                        Year ended       profit

                                                              2000   Year ended

                                                               £bn         2000

                                                                             £m
Personal Financial Services                                    1.2          129
Woolwich *                                                     0.3          104
Wealth Management                                              0.8          366
Barclaycard                                                    1.0          214
Business Banking- operating                                    2.2          486

- sale of subsidiary                                             -          186
Africa                                                         0.2           28
Barclays Capital                                               1.7          172
Barclays Global Investors                                      0.1           21
Other operations                                               0.6         (72)
Head office functions                                            -         (39)
Average economic capital/Economic profit                       8.1        1,595
Goodwill **                                                    1.2        (114)
Variance to average shareholders' funds ***                    0.8         (52)
Total average shareholders' funds                             10.1        1,429
(including previously amortised goodwill)/
Economic profit





*        Average economic capital for Woolwich includes capital attributable
to Barclays mortgage business for the full year and to the Woolwich business
from 25 October 2000 to 31 December 2000.

**      The movement in average goodwill between 30 June 2000 and 31 December
2000 reflects the acquisition of The Woolwich on the 25th October 2000.

***    Economic loss represents the cost of equity on the variance between
average economic capital and average shareholders' funds less the risk free
earnings on this capital.





The economic capital required to support the Group's business and to allow for
future growth was estimated to be approximately £8.5bn (excluding goodwill) as
at 31st December 2000.












Risk tendency



The Group grades borrowers in order to estimate the probability of a default,
which together with data concerning amounts borrowed and recovery rates is
used to estimate the annual provisioning rate across the portfolio, termed
risk tendency.



The Group's risk tendency by business group is set out below:


                                                       31.12.00        30.06.00

                                                             £m              £m
Personal Financial Services                                 240             205
Woolwich                                                  ** 95            * 25
Wealth Management                                            45              40
Barclaycard                                                 300             255
Business Banking                                            215             205
Africa                                                       20              15
Barclays Capital                                            115              85
                                                          1,030             830



Total assets
                                                            31.12.00   30.06.00
                                                                  £m         £m
Personal Financial Services                                    6,562      6,304
Woolwich                                                   ** 55,243   * 18,693
Wealth Management                                             13,352     12,735
Barclaycard                                                    9,805      8,882
Business Banking                                              41,364     40,011
Africa                                                         2,291      2,345
Barclays Capital                                             168,894    182,619
Barclays Global Investors                                        259        255
Other operations and Head office functions                     5,440      6,339
Retail life-fund assets attributable to policyholder           8,711      8,014
Goodwill                                                       4,269        188
Total                                                        316,190    286,385



Weighted risk assets
                                                      31.12.00         30.06.00
                                                            £m               £m
Personal Financial Services                              5,598            5,530
Woolwich                                             ** 28,620          * 9,640
Wealth Management                                        8,390            7,730
Barclaycard                                              9,623            8,883
Business Banking                                        44,017           41,891
Africa                                                   1,661            1,602
Barclays Capital                                        45,946           45,222
Barclays Global Investors                                  653              653
Other operations                                         2,532            2,332
Total                                                  147,040          123,483



*    includes Barclays mortgage business only.

**  includes Barclays mortgage business and The Woolwich business following
the acquisition on 25th October 2000.