Disposal, etc

BARCLAYS PLC 12 August 1999 BARCLAYS PLC AGREES TO SELL ITS MAJORITY SHAREHOLDING IN BARCLAYS BANK OF SIERRA LEONE LTD Barclays PLC (Barclays) announces that it has agreed the sale of its 51 per cent majority shareholding in Barclays Bank of Sierra Leone Limited ('BBSL') to the country's Government. Barclays presently has a 60 per cent shareholding in BBSL and is planning to distribute its remaining 9 per cent shareholding to BBSL staff as part of an employee share scheme. Local investors currently hold 40 per cent of shares in BBSL. BBSL currently operates one branch and a Head Office function in Freetown, Sierra Leone. BBSL employs 134 staff. As at December 31, 1998, BBSL had net assets of approximately £1.6 million. Completion of the sale will take place after shareholder approval to change the name has been given. For further information contact: Catriona Campbell / Maria Darby Group Media Relations Barclays Bank (UK) Tel: 0171 699 2970 / 2660

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Barclays (BARC)
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