Final Results - Part 2

Barclays PLC
8 February 2001

PART 2


                                 BARCLAYS PLC

                               FINANCIAL REVIEW


Results by nature of income and expense


Net interest income                                            2000       1999
                                                                 £m         £m
Interest receivable                                          11,788      9,320
Interest payable                                            (6,635)    (4,696)
Profit on redemption/repurchase of loan capital                   2          3
                                                              5,155      4,627
Excluding The Woolwich                                        5,068      4,627



Net interest income increased 11% to £5,155m.  Adjusting for the impact of The
Woolwich acquisition (including interest foregone on the cash element of the
acquisition cost), loss of interest income arising from the share repurchases
and business disposals, underlying net interest income also increased by 11%.



In Retail Financial Services net interest income increased 7% to £2,649m
excluding net interest arising in The Woolwich.  This was primarily as a
result of strong growth in Wealth Management and increased UK lending and
deposit balances.  In Wealth Management, particularly strong growth was
achieved in the UK, with average Premier Banking mortgage balances increasing
by 19% and, in continental Europe, where average lendings and deposits grew by
24% and 15% respectively.  In Small Business average deposits grew by 4% to £
6.7bn and average lending balances grew 8% to £1.8bn.  In UK Personal
Customers, current accounts and average savings balances benefited from good
volume growth, despite some pressure on margins.  Excluding The Woolwich, the
overall UK retail lending margin reduced primarily as a result of pricing
decisions in respect of consumer lending products and a change in mix of
mortgage products.  The overall UK retail deposit margin, excluding The
Woolwich, has experienced some downward pressure in the second half of the
year.

Net interest income in Barclaycard improved 12% to £548m benefiting from
continued strong growth in average UK extended credit balances which rose 19%
year on year to £5.5bn.  This compared with the market growth rate of 13%.
The net interest margin fell slightly compared to 1999, mainly as a result of
the balance consolidation promotions of 2000 and the increased range of rates
available to cardholders.

Corporate Banking net interest income rose 6% to £1,324m.  Average customer
lending balances increased 10% to £47bn as a result of strong growth in UK
lending and in the rest of Europe.  Average customer deposit balances
increased 6% to £37bn with relatively strong growth in the United Kingdom.
The overall UK lending margin in Corporate Banking was maintained in line with
the improving quality of the portfolio.

In Barclays Capital net interest income increased 21% to £483m primarily as a
result of continued strong growth in revenues from structured capital markets
and the credit portfolio.

Overall banking margins reduced to 3.11% from 3.40% as a result of increased
volumes in lower margin wholesale business in Barclays Capital and also
reductions in UK margins in Retail Financial Services, Barclaycard and
Corporate Banking.  Additionally, the two month impact of the acquisition of
The Woolwich on the Group's mix of interest earning assets has been to reduce
the Group margin by 6 basis points.  Further analysis of the movement year on
year is given on page 15.

The benefit of free funds was flat at 0.51% (1999: 0.52%).  The rise in
short-term market rates of interest reduced the contribution to the net margin
from the central management of Group interest rate exposure to 0.05% from
0.21%.  The overall benefit of free funds on a hedged basis has reduced to
0.56% from 0.73% in 1999 as a result of a decrease in the effective rate of
the hedge and a reduction in the proportion of free funds to interest earning
assets.

Yields, spreads and margins - banking business

Domestic business is conducted primarily in sterling and is transacted by
Retail Financial Services, Barclaycard, Corporate Banking, Barclays Capital
and Group Treasury.  International business is conducted primarily in foreign
currencies.  In addition to the business carried out by overseas branches and
subsidiaries, international business is transacted in the United Kingdom by
Barclays Capital, mainly with customers domiciled outside the United Kingdom.

The yields, spreads and margins shown below have been computed on this basis,
which generally reflects the domicile of the borrower.  They exclude profits
and losses on the redemption and repurchase of loan capital, one-off
write-downs of leases and the unwinding of the discount on vacant leasehold
property provisions.


Yields, spreads and margins - banking business
                                                                  2000     1999
Gross yield (i)                                                      %        %
Group                                                             7.09     6.84
Domestic                                                          7.90     7.66
International                                                     5.71     5.38

Interest spread (ii)
Group                                                             2.60     2.88
Domestic                                                          3.54     3.89
International                                                     1.01     1.10

Interest margin (iii)
Group                                                             3.11     3.40
Domestic                                                          4.19     4.47
International                                                     1.25     1.47

Average UK base rate                                              5.96     5.35



Notes

(i)        Gross yield is the interest rate earned on average interest earning
assets.

(ii)       Interest spread is the difference between the interest rate earned
on average interest earning assets and the interest rate paid on average
interest bearing liabilities.

(iii)      Interest margin is net interest income as a percentage of average
interest earning assets.


Analysis of movement in interest margin
                                                                              %
Net interest margin at 31st December 1999                                  3.40

Movement due to change in business margins                               (0.08)
Movement due to change in the asset mix (excluding The Woolwich)         (0.15)
                                                                           3.17
Impact of The Woolwich (including funding of the acquisition)            (0.06)
Net interest margin at 31st December 2000                                  3.11





Average interest earning assets and liabilities - banking business


                                                             2000         1999
Average interest earning assets                                £m           £m
Group                                                     166,200      136,267
Domestic                                                  104,845       87,407
International                                              61,355       48,860

Average interest bearing liabilities
Group                                                     147,367      118,496
Domestic                                                   89,130       73,850
International                                              58,237       44,646




Net fees and commissions                                       2000        1999
                                                                 £m          £m
Fees and commissions receivable                               3,689       3,207
Less: fees and commissions payable                            (320)       (275)
                                                              3,369       2,932
Excluding The Woolwich                                        3,320       2,932




Net fees and commissions, excluding The Woolwich, increased 13% to £3,320m
reflecting strong growth in Barclays Global Investors and Barclays Capital and
good performances in the other businesses.

In Barclays Global Investors fee income increased by 37% to £435m driven by
strong active product growth and performance which has generated significant
incentive fees.  Fees on active products comprised almost 50% of total fees
and commissions.  The increase also reflects strong securities lending revenue
growth and a net increase in assets under management of 13% despite flat or
declining global markets.

Net fees and commissions in Barclays Capital rose 64% to £268m reflecting the
increased number and size of transactions completed in the Credit businesses.
Growth was strong across all the Credit businesses, in particular, primary
loans, primary bonds and structured capital markets.

In Retail Financial Services, fees and commissions, excluding The Woolwich,
increased 5% to £1,370m.  Within Retail Customers net fees increased 6% mainly
as a result of additional current account and overdraft lending activity and
higher fee income from Additions accounts.  In Wealth Management, fees and
commissions grew 10% to £590m on a comparable basis (including adjustments for
disposals) reflecting increased investment sales, introduction of new fee
based products and higher dealing commissions.

Corporate Banking fees increased 9% to £752m.  Lending related fees rose
strongly and foreign exchange income increased in line with volume growth.
Money transmission income reduced slightly due to intensifying competitive
pressures.

In Barclaycard, fees and commissions increased 9% to £521m, principally
reflecting cardholder turnover which grew by 12% year on year.

Corporate Banking and Retail Financial Services fees and commissions include £
120m (1999: £100m) in respect of foreign exchange income on customer
transactions with Barclays Capital.


Dealing profits                                               2000         1999
                                                                £m           £m
Rates related business                                         536          397
Credit related business                                        141          159
                                                               677          556


Dealing profits rose 22% with almost all the Group's dealing profits arising
in Barclays Capital.  The Rates businesses continued to perform well, in
particular interest rate derivatives.  In the Credit businesses, equity
derivatives and credit repackaging made good contributions, but in the second
half these were offset in part by continuing difficult market conditions in
the secondary bond market due to the widening of credit spreads.

Total foreign exchange income for the year was £388m (1999 £380m) and
consisted of the revenues earned from both retail and wholesale activities.
The foreign exchange revenue earned by Retail Financial Services and Corporate
Banking on customer transactions is reported within fees and commissions.


Other operating income                                            2000     1999
                                                                    £m       £m
Dividend income from equity shares                                  14       12
Profits on disposal of investment securities                        45       41
Income from the long-term assurance business                       171       44
Property rentals                                                    22       27
Premium income on insurance underwriting                           126      102
Other income                                                        19       32
                                                                   397      258
Excluding The Woolwich                                             388      258




Income from the long term assurance business increased £52m adjusting for the
£75m provision for the redress of personal pension customers, which was raised
during 1999.  The increase in 2000 benefited from reductions in costs charged
to the funds, a net £18m increase from applying current actuarial assumptions
and £5m from the inclusion of Woolwich Life.  Total provisions of £226m,
including £16m in The Woolwich, have been raised to date for the cost of the
redress for personal pension customers for priority and non-priority cases, of
which £97m remains unutilised as at 31st December 2000.  The result of the
long term assurance business is after charging costs borne directly in the
fund (2000: £146m; 1999: £165m).

Premium income on insurance underwriting increased to £126m (1999: £102m),
benefiting from improved volumes of consumer lending, overdrafts, mortgages
and credit card lending.

Operating Expenses

From 1st January 2000 the Group has managed core costs on the basis of three
distinct categories: strategic investment, revenue related and business as
usual.  In addition goodwill amortisation, integration costs and restructuring
costs are reported separately.



Costs are allocated to individual categories based on the following
definitions:



Strategic investment costs relate to the development costs of an investment
project which has either or both of the following features:

-         it generates or enables new revenue streams or definable growth in
revenue stream, or

-         it generates or enables reduced costs

Strategic investment costs also include projects which support a major
strategic initiative as agreed by Group Executive Committee, but exclude
restructuring costs.  Project operating costs are also excluded.

Revenue or profit related costs are those costs which are directly associated
with a corresponding change in revenues or profit.  An increase or decrease in
revenues or profits will lead to an increase or decrease in these costs.

Business as usual costs are all costs not classified as strategic investment,
revenue related or restructuring.  This category includes operating costs of
strategic projects, other projects not classified as strategic and volume
related costs which are not revenue related.

Integration costs are in respect of projects and initiatives associated with
the acquisition of The Woolwich and include expenditure to achieve any cost
savings and revenue synergies.

Restructuring costs are those charges associated with the ongoing
reorganisation and restructuring of the Group's operations as part of its cost
reduction initiatives.

Based on the above definitions the Group's costs are summarised in the
following table with the costs associated with businesses sold and acquired
restructuring costs shown separately:


                                                         Barclays PLC
                                              The          (excluding
                                         Woolwich                 The
                             Group    period from           Woolwich)
                             total       25.10.00          year ended
                              2000    to 31.12.00            31.12.00      1999
                                £m             £m                  £m        £m
Business as usual costs      4,216             74               4,142     4,184
Strategic investment costs     440             14                 426       229
Revenue related costs          528             10                 518       300
Disposals                       18              -                  18        74
                             5,202           * 98               5,104     4,787
Goodwill amortisation           51             38                  13        13
Integration costs                7              7                   -         -
Restructuring charge           232              -                 232       344
                             5,492            143               5,349     5,144



* net of £1m fair value adjustment (see page 11).


The Group's strategic investment expenditure has risen by £211m (including £
14m relating to The Woolwich) to £440m (1999: £229m).  This increase reflects
£179m greater commitment to e-enablement and information technology
infrastructure that was announced in May 2000.  Strategic investment
expenditure also included costs of new activities such as Barclays B2B.com,
e-commerce, European activities within Barclaycard and exchange traded funds
in BGI.

Revenue related costs have increased by £228m (including £10m in The Woolwich)
as a direct result of improved performance across the Group's businesses.  It
mainly reflects increased performance related remuneration in Barclays Capital
and BGI and an increase in the profit share for UK staff.


Administrative expenses - staff costs                          2000       1999
                                                                 £m         £m
Salaries and accrued incentive payments                       2,559      2,387
Social security costs                                           178        190
Pension costs                                                  (31)         38
Post-retirement health care                                       1         15
UK profit sharing                                                96         80
Other staff costs                                               416        347
                                                              3,219      3,057
Included above:
The Woolwich                                                     42          -
Integration costs                                                 1          -
Restructuring charge                                            171        192
Excluding The Woolwich, integration costs
and restructuring charge                                      3,005      2,865

Number of staff at period end:*
Retail Financial Services**                                  49,900     46,100
Barclaycard                                                   3,900      3,600
Corporate Banking                                             9,700     11,400
Barclays Capital                                              4,300      4,000
Barclays Global Investors                                     2,100      1,700
Other operations                                              4,900      7,100
Head office functions                                           500        400
Group total world wide                                       75,300     74,300
of which United Kingdom                                      57,000     55,700



*        Staff numbers do not include temporary and agency staff of 4,800
(31st December 1999: 3,600) whose costs are included in staff costs.

**      Retail Financial Services figures include staff who represent a shared
resource with Corporate Banking, but exclude 1,000 regulated salesforce and
field sales managers (31st December 1999: 1,000) and 1,100 administrative
staff (31st December 1999: 1,300) whose costs are borne within the long-term
assurance fund.  Retail Financial Services figures at 31st December 2000 also
include 6,500 staff of The Woolwich.

Staff costs

Staff costs excluding the restructuring charge and costs relating to The
Woolwich increased 5% to £3,005m.  Salaries and accrued incentive payments
rose by 7% reflecting increased performance related payments in Barclays
Capital and BGI.  Excluding performance related payments, salary costs across
the Group were flat compared with 1999.  In Retail Financial Services,
Corporate Banking and Service Provision savings from job reductions offset the
impact of the annual UK pay award.

Pension costs include a £74m credit (1999: £nil) in respect of the Group's
main UK schemes following a review of the assumptions relating to the surplus
and the continued nil contribution.  The Group expects similar credits in the
next two years.


Staff number reduction in 2000                                           Number
                                                                       of staff
2000 restructuring programme                                              2,700
1999 restructuring programme                                              1,500
                                                                          4,200
Sale of Dial                                                                700
Outsourcing and other movements                                             600
                                                                          5,500


Excluding The Woolwich, staff numbers decreased by 5,500 to 68,800, primarily
as a result of continuing job reductions in the UK.  The reduction in staff
numbers relating to the 2000 restructuring programme amounted to 2,700 with a
further 1,500 attributable to the 1999 programme where the notice process was
underway at the end of 1999.  The reduction in Corporate Banking staff numbers
includes 700 as a result of the sale of Dial.  Staff numbers also reduced by a
net 600 as a result of outsourcing and other movements.

In addition to the 4,200 staff who have left the Group in 2000 under the 2000
and 1999 restructuring programmes, a further 2,100 staff were in the process
of being served notice at 31st December 2000 and are covered by the 2000
restructuring charge of £171m (total jobs affected 4,800).

The increases in Barclays Capital, Barclays Global Investors and Barclaycard
staff numbers reflected increased business volumes and investment in new
activities.



Administrative expenses - other                                   2000     1999
                                                                    £m       £m
Property and equipment expenses:
Hire of equipment                                                   20       21
Property rentals                                                   157      218
Other property and equipment expenses                              641      613
                                                                   818      852
Stationery, postage and telephones                                 261      236
Advertising and market promotion                                   221      190
Travel, accommodation and entertainment                            123      117
Subscriptions and publications                                      65       58
Securities clearing and other operational expenses                  26       20
Sundry losses, provisions and write-offs                           115       78
Statutory and regulatory audit and accountancy fees                  7        6
Consultancy fees                                                   158      121
Professional fees                                                   99       88
Other expenses                                                      74       41
                                                                 1,967    1,807
Included above:
The Woolwich                                                        47        -
Integration costs                                                    6        -
Restructuring charge                                                61      152
Excluding The Woolwich, integration costs
and restructuring charge                                         1,853    1,655


Administrative expenses increased by 12% to £1,853m, excluding operational
costs of The Woolwich following acquisition, integration costs and
restructuring costs.

Advertising and market promotion expenditure returned to pre 1999 levels;
increased stationery, postage and telephone expenses was in part volume
related; consultancy fees increased primarily as a result of strategic project
initiatives.  Increased fraud losses reflecting industry experience are
reflected in sundry losses.


Depreciation and amortisation                                      2000    1999
                                                                     £m      £m
Property depreciation                                                85      93
Equipment depreciation                                              166     170
Loss on sale of equipment                                             4       4
                                                                    255     267
Goodwill amortisation      - The Woolwich                            38       -
                           - other                                   13      13
                                                                    306     280
Excluding The Woolwich depreciation
and goodwill amortisation                                           259     280



Goodwill amortisation relating to The Woolwich acquisition is based on total
goodwill of £4,121m and an estimated economic life of 20 years which will
result in a charge of £206m per annum, £38m for the period from 25th October
2000 to 31st December 2000.

Provisions for bad and doubtful debts


                                                                  2000     1999
The charge for the year in respect of                               £m       £m
 bad and doubtful debts comprises:
Specific provisions - credit risk
New and increased                                                  981      887
Releases                                                          (86)    (157)
Recoveries                                                       (113)     (93)
                                                                   782      637
General provision - credit risk - charge/(release)                  40     (16)
                                                                   822      621
Specific provision releases - country risk                         (5)      (2)
General provision charge - country risk                              -        2
Net charge                                                         817      621
Excluding The Woolwich acquisition                                 809      621

Total provisions for bad and doubtful debts at end of
the year comprise:

Specific - credit risk                                           1,592    1,298
Specific - country risk                                              1       13
Total specific provisions                                        1,593    1,311
General provisions       - credit risk                             703      615
                         - country risk                             57       57
                                                                 2,353    1,983




The net provisions charge rose 32% to £817m (including £8m relating to The
Woolwich).  The increase in the net specific credit risk charge reflected both
an increase in new and increased provisions of £94m and a reduction in
releases and recoveries of £51m.

The rise in new and increased provisions primarily relates to Retail Financial
Services and Barclaycard with both experiencing increased volumes.  Corporate
Banking experienced new provisions in respect of two larger individual
customers as well as lower releases and recoveries.  £33m of the £124m charge
in Corporate Banking related to overseas specific provisions.  There was an
increase in provisions in relation to overseas exposures in Barclays Capital.

The credit risk general provision charge was £40m compared to a release of £
16m in 1999.  The charge in general provision was mainly in respect of
Barclays Capital and Corporate Banking.

The net provision charge for the period as a percentage of average banking
loans and advances was 0.67% compared with 0.58% in 1999.




Loss from joint ventures and associated undertakings
                                                                   2000    1999
                                                                     £m      £m
Loss from joint ventures                                            (1)     (1)
Loss from associated undertakings                                   (7)    (13)
                                                                    (8)    (14)



The loss from associated undertakings in 2000 largely arose in the Group's
Brazilian associate Banco Barclays e Galicia SA as a result of credit
provisions.




Exceptional items                                                 2000     1999
                                                                    £m       £m

Profit/(loss) on disposal of other Group undertakings              214    (138)
                                                                   214    (138)



The profit on disposal of other Group undertakings includes a £186m profit on
the sale of Dial in June 2000 and £18m profit on the sale of Barclays Property
Investment Management in October 2000.

The loss on disposal of other Group undertakings in 1999 includes a £117m loss
(after £138m charge for goodwill which had been previously written off to
reserves) on the sale of Merck Finck in March 1999.

Tax

The charge for the year assumes a UK corporation tax rate of 30.0% for the
year 2000 (1999: 30.25%) and comprises current tax of £937m (1999: £696m) and
deferred tax charge of £7m (1999: credit £52m).  The effective rate of tax is
27.0% (1999: 26.2%).  This is mainly due to the profit on sale of Dial being
sheltered by capital gains tax losses, payments to a qualifying employee trust
and differing rates of tax on overseas income.

Included in the charge is £40m (1999: £7m) tax on the increase in the
shareholders' interest in the long-term assurance fund.

There has been no change in the policy for partial provision for deferred
taxation in respect of leasing.

Earnings per ordinary share

Earnings per ordinary share is based upon the results after deducting tax,
profit attributable to minority interests and dividends on staff shares.


                                                                     2000  1999
                                                                       £m    £m
Earnings in year                                                    2,473 1,759

Earnings in year before restructuring, goodwill amortisation,       2,477 2,150
integration costs and exceptional items

Weighted average of ordinary shares in issue                        1,514 1,497

Calculation of adjusted earnings per share                          Pence Pence

Basic earnings per ordinary share                                   163.3 117.5
Restructuring charge                                                 10.7  16.3
Integration costs                                                     0.3     -
Goodwill amortisation                                                 3.4   0.9
Exceptional items                                                   (14.1)   8.9
Adjusted earnings per share                                         163.6 143.6


Dividends on ordinary shares

The Board has decided to pay, on 30th April 2001, a second interim dividend
for 2000 of 38.0p per ordinary share, in respect of shares registered in the
books of the Company at the close of business on 23rd February 2001.  The
total distribution on the ordinary shares for 2000 is 58.0p
(1999: 50.0p).

For US and Canadian resident ADR holders, the second interim dividend of 38.0p
per ordinary share becomes 152p per ADS (representing four shares).  The ADR
depositary will mail the dividend on 30th April 2001 to ADR holders on record
on 23rd February 2001.

For Japanese shareholders, the second interim dividend of 38.0p per share will
be distributed in mid May to shareholders on record on 23rd February 2001.

Shareholders may have their dividends reinvested in Barclays PLC ordinary
shares by participating in the Barclays Dividend Reinvestment Plan.  The plan
is available to all shareholders provided that they do not live in or are
subject to the jurisdiction of any country where their participation in the
plan would require Barclays or The Plan Administrator to take action to comply
with local government or regulatory procedures or any similar formalities.
Any shareholder wishing to obtain details of the plan and a mandate form
should contact The Plan Administrator to Barclays, PO Box 82, The Pavilions,
Bridgwater Road, Bristol, BS99 7NH.  Those wishing to participate for the
first time in the plan should send their completed mandate form to The Plan
Administrator before 5th April 2001 for it to be applicable to the payment of
the second interim dividend on 30th April 2001.  Existing participants should
take no action unless they wish to alter their current mandate instructions,
in which case they should contact The Plan Administrator.

Balance sheet


Capital resources                                        2000              1999
                                                           £m                £m
Shareholders' funds                                    13,187             8,483
Minority interests                                      1,600               352
                                                       14,787             8,835
Loan capital                                            6,370             4,597
                                                       21,157            13,432



The Group continues to manage actively both its debt and equity capital.
Total capital resources increased in the year by £7,725m.

Shareholders' funds increased by £4,687m before favourable exchange
differences of £17m.  This increase resulted from shares issued in respect of
The Woolwich acquisition (£3,359m) and profit retentions of £1,546m, offset by
share buy-backs, including costs, of £311m.

The increase in minority interests reflects the issue by Barclays Bank PLC of
EUR850m (£510m) and US $1,250m (£860m) Reserve Capital Instruments on 3rd May
and 19th September 2000 respectively.  17,920,000 outstanding Series C1 and C2
Non cumulative Dollar Denominated Preference Shares of $0.01 each were
redeemed on 30th June 2000.  The aggregate redemption cost was $224m (£149m).

Loan capital rose by £1,773m reflecting raisings of £861m, loan capital of The
Woolwich on acquisition of £957m and exchange rate movements of £169m.  This
was offset by repayments of £214m.

Capital ratios

Weighted risk assets and capital resources, as defined for supervisory
purposes by the Financial Services Authority, comprise:


                                                              2000        1999
Weighted risk assets:                                           £m          £m
Banking book
         on-balance sheet                                  112,633      84,535
         off-balance sheet                                  18,413      15,567
         associated undertakings                               783       1,341
Total banking book                                         131,829     101,443

Trading book
         market risks                                        6,440       6,015
         counterparty and settlement risks                   8,771       8,420
Total trading book                                          15,211      14,435
Total weighted risk assets                                 147,040     115,878

Capital resources:
         tier 1 capital                                     10,547       8,696
         tier 2 capital                                      6,619       4,948
         tier 3 capital                                        331         343
Total gross capital resources                               17,497      13,987
Less: supervisory deductions                               (1,312)       (853)
Total net capital resources                                 16,185      13,134

                                                                 %           %
Tier 1 ratio                                                   7.2         7.5
Risk asset ratio                                              11.0        11.3


Adjusting for the impact of the acquisition of The Woolwich, the reported
ratios at 31st December 2000 are estimated as a tier 1 ratio of 8.8% and a
risk asset ratio of 12.7%.

Total Assets

The Group's balance sheet grew £61bn, or 24%, to £316bn in 2000, and included
£37bn of assets and £4.1bn of goodwill in respect of The Woolwich.  This
compared to a 16% increase in 1999.  Weighted risk assets rose 27% to £147bn,
of which £19bn (13%) relates to The Woolwich.

Retail Financial Services assets (excluding The Woolwich) grew 6% to £44.1bn,
compared with a 4% increase in 1999.  Weighted risk assets were 9% higher at £
28.5bn.  Consumer lending balances in the United Kingdom increased by 5% to £
6.5bn over the year and mortgage outstandings grew by 6% to £17.7bn.  Wealth
Management assets have grown strongly across most business units, with
particularly high growth in UK Premier Banking and Iberia.

The assets of Barclays Capital increased 8%, to £157bn (1999: £145bn).  This
was largely due to a £10bn increase in the holdings of debt securities across
both the Rates and Credit businesses and a £2bn increase in reverse repos and
stock lending assets due to increased customer financing.  Total weighted risk
assets increased 7% to £34bn (1999: £32bn) in line with the increase in
assets.

Corporate Banking assets grew 11% to £53bn, adjusted for the sale of Dial
(1999: £47bn).  Weighted risk assets increased by 13% to £55bn on the same
basis.  UK middle market lending grew strongly particularly to larger and
higher quality customers.  Lending volumes in the international business
continued to grow strongly in Europe while volumes in Latin America reduced.
In 2000 the sale of Dial reduced total assets by £800m.

Barclaycard assets grew £1.4bn, or 19%, to £8.7bn in 2000 reflecting strong
growth in credit card outstandings in the UK and Europe.  Weighted risk assets
increased by 18%.

Assets of other operations fell by £1bn mainly because of lower holdings of
government loan stock.

Retail life fund assets, excluding The Woolwich (£721m), reduced by £50m.

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