Offer Documents Posted

Woolwich PLC
5 September 2000


RECOMMENDED OFFER BY BARCLAYS PLC FOR WOOLWICH PLC

Posting of shareholder documentation

Full details of the recommended offer by Barclays for Woolwich are now
available.  The voting packs are being sent to all Woolwich shareholders and
posting is expected to be completed by 7 September.

The packs contain:

1. An introductory letter from Sir Brian Jenkins, Chairman of Woolwich

2. The Scheme document, providing fuller details of the offer, including a
   letter from Sir Brian Jenkins containing the Woolwich Board's
   recommendation of the offer

3. Summary listing particulars in relation to the new Barclays shares to be
   issued under the offer

4. A booklet 'The Barclays offer for Woolwich - Your questions answered' which
   is intended to answer commonly asked shareholders questions

5. Proxy and voting forms for the Woolwich shareholder meetings to be held on
   3 October 2000 

6. A 'mix and match' election form which eligible shareholders can use to
   apply to vary the mix of cash and Barclays shares to which they are
   entitled under the offer

Shareholder approval will be sought at two consecutive shareholder meetings to
be held at the Wembley Conference and Exhibition Centre on Tuesday 3 October,
beginning at 10.30a.m.

KEY DATES AND EXPECTED TIMETABLE

Latest time for receipt of forms of proxy/     10.30a.m. on 1 October 2000*
voting forms for the Woolwich Court meeting

Latest time for receipt of forms of proxy/     11.00a.m. on 1 October 2000*
voting forms for the Woolwich EGM

Shareholder meetings - the Court meeting       Commencing at 10.30a.m. on 3
and the Extraordinary General Meeting          October 2000

Expected completion date                       24 October 2000**

Dealings begin in new Barclays shares          8.00a.m. on 25 October 2000**

Despatch of proceeds and/or new Barclays
shares                                         By 7 November 2000**

* 10.30a.m. on 29th September for shareholders with shares in The Woolwich's
  own single Company PEP     

** Dates are indicative only and will depend on the date the Court sanctions
   the Scheme of arrangement, the timing of regulatory consents and the
   satisfaction of other conditions to the Offer

Shareholders requiring any assistance should call the Woolwich shareholder
information line on 0800 88 33 77 (or, from outside the UK, [phone])
or visit the Woolwich's website, www.thewoolwich.co.uk.

MEDIA ENQUIRIES:

Barclays:
Leigh Bruce          Telephone:  [phone]
Chris Tucker                     020 7699 3161
Pam O'Keefe                      020 7699 2659 

Woolwich:            
David Blake          Telephone:  [phone]
Hilary McVitty                   020 8298 5507
Rob McIvor                       020 8298 5020 


Salomon Brothers International Limited ('Schroder Salomon Smith Barney'),
which is regulated in the United Kingdom by The Securities and Futures
Authority Limited, is acting for Woolwich and no one else in connection with
the offer and will not be responsible to anyone other than Woolwich for
providing the protections afforded to the customers of Schroder Salomon Smith
Barney or for providing advice in relation to the offer.

Credit Suisse First Boston(Europe)Limited ('CSFB'), which is regulated in the
United Kingdom by The Securities and Futures Authority Limited, is acting for
Barclays and no one else in connection with the offer and will not be
responsible to anyone other than Barclays for providing the protections
afforded to the customers of CSFB or for providing advice in relation to the
offer.