Inv. Property Databank-update

Barclays PLC
11 February 2004

Investment Property Databank - Update to December 2003


Progress Report No 1, 11 February 2004

At this point in the update, we have collected end-2003 capital value
information from all clients. The records on capital and revenue flows for some
funds are now being completed, and all inputs being checked. These provisional
figures are therefore based on unconfirmed data for those funds which have
already provided complete information.  It is not possible to estimate how close
to these provisional results the final 2003 figure is likely to be. The later
stages of the update towards the end of February can have significant effects on
the bottom line.

1. 2003 Provisional Results - based on an estimated 40.8% of the final Databank.

                                                                    Capital       Income   Total Return
                                                                     Growth       Return

IPD Universe - Portfolio Benchmark                                      4.0           7.0          11.0
(including transactions, development and other active
management)

IPD Index - Standing Investments
(excluding transactions, development and active management)
All Property                                                            3.5           7.2          10.6
    Retail                                                              8.2           6.7          15.0
    Office                                                             -4.3           7.3           3.0
    Industrial                                                          3.2           8.0          11.1




2. Size of the Databank (£m)

    Total value updated so far            Estimated final total                  % Completed
              43,611                             106,953                            40.8



3. Sector Weightings - % of Capital Value

                                                           Retail             Office         Industrial
This year's Provisional Databank
    At end-2003                                              50.2               27.2               20.5
    At end-2002                                              45.6               31.8               20.6

Last year's Final Databank
    At end-2002                                              47.7               33.1               15.2





(c) Investment Property Databank Ltd (IPD) February 2004.  All rights conferred
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reserved by IPD.  No part of the IPD statistics or information contained within
this may be reproduced or transmitted, in any form or by any means, without the
                       prior written consent of IPD.

  Investment Property Databank will have no liability for any losses, damages
 costs and expenses suffered by any persons as a result of any reliance on the
        information or for any errors or inaccuracies contained within.


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