Pre-Close Briefing

Barclays PLC
03 June 2003

                                                                   3rd June 2003

                                  BARCLAYS PLC
                               PRE-CLOSE BRIEFING

Barclays PLC ('Barclays') will be meeting analysts ahead of its close period for
the half-year ending 30th June 2003.

The Group Finance Director's briefing of analysts will be available as an audio
webcast by the close of business on the 3rd June 2003 at:
www.investorrelations.barclays.co.uk.

Key trends set out below, unless stated otherwise, relate to the three months to
31st March 2003, and are compared to the corresponding three months of 2002. The
commentary refers to the 'Further analysis of profit and loss account' as
disclosed in the 2002 Annual Report. Balance sheet comparisons, unless stated
otherwise, relate to the corresponding position at 31st December 2002.

The closed life assurance activities will be reported separately within Barclays
Private Clients in the 2003 Interim results.

The operating name of the credit card business acquired through the purchase of
Providian UK, which completed in April 2002, is now Monument.


Matthew W. Barrett, Group Chief Executive, commented:

'Although the economic and political environment has remained challenging in
2003, the Group has made a confident and disciplined start to the year and our
performance in the first quarter was solid.

We continue to maintain a strong focus both on short term performance and
investment in the future.'

Individual Business Commentary

Personal Financial Services increased business volumes during the period, which
more than offset the impact of lower average interest rates. Early signs of
income momentum, combined with tight cost control and improved asset quality,
are positive indicators of the ongoing transformation of this business.

Barclays Private Clients maintained a focus on managing costs aggressively to
mitigate the sustained pressure on income consequent on the difficult
environment in wealth management.

Barclaycard continued to perform strongly, with investment in the business
remaining a key priority.

Business Banking continued its good performance with solid income growth, tight
cost management and well controlled risk.

Barclays Africa had a strong start to 2003.

Barclays Capital had a confident start to 2003, sustaining the good performance
in 2002. Business volumes recovered relative to the fourth quarter of 2002 with
encouraging signs of the credit environment stabilising.

Barclays Global Investors had a good start to 2003 and continued, through new
asset acquisition, to mitigate the impact of the further declines in global
stock markets during the first quarter.

Performance Commentary

Operating profit in the three months to 31st March 2003 was maintained at a
level comparable to the strong corresponding period in 2002.

Income

Operating income matched the strong levels of the corresponding period in 2002.

Net interest income was maintained at the level of the prior year period, with a
good increase over the fourth quarter of 2002.

Net fees and commissions saw modest growth relative to the comparable period in
2002.

Dealing profits in the first quarter were lower than in the strong corresponding
period and in line with the quarterly average for 2002. Dealing profits improved
significantly relative to the fourth quarter of 2002 reflecting increased
business volumes, particularly in credit related activities.

Other operating income, excluding income from the closed life assurance
activities, rose strongly relative to the first quarter of 2002. Income from the
closed life assurance activities fell, affected by the decline in the FTSE 100
Index.

Costs

The uncertain economic outlook necessitated continued tight management of costs,
which were held flat in the first quarter of 2003 relative to the prior year
period, despite the impact of additional pension costs.

Business as usual cost growth was largely attributable to the additional
pensions charge and the impact of the acquisition of Monument. The increase was
mitigated by the combination, during the fourth quarter of 2002, of Barclays and
Canadian Imperial Bank of Commerce in the Caribbean ('First Caribbean') by which
a business that had previously been consolidated became an associate.

Revenue related and strategic investment costs continued to be tightly
controlled.

Barclays remains ahead of plan to achieve the targeted cost savings of 
£1 billion for the four year period ending 2003.

Provisions for bad and doubtful debts

Total provisions for the Group during the period were in line with the
comparable period in 2002.

Provisions were lower in the period in Personal Financial Services and higher,
although in line with expectation, in Barclaycard and Business Banking.

Barclays Capital observed encouraging signs during the first quarter of 2003
that the credit environment was stabilising. Barclays Capital provisions were
significantly below the 2002 quarterly average although higher relative to the
prior year period.

Other information

The restructuring charge for the first half of 2003 is expected to be somewhat
ahead of that for the comparable period in 2002.

The Woolwich integration programme is expected to achieve the planned annualised
pre tax synergies of £330m for 2003.

Woolwich integration costs and Woolwich fair value adjustments for the first
half of 2003 are together expected to be broadly in line with those for the
comparable period in 2002.

The tax charge for the half year is expected to be slightly below the standard
rate of Corporation Tax.

Customer loans and advances (excluding trading balances) at the end of the first
quarter amounted to £162 billion, up 3% since the year end. Customer liabilities
(excluding trading balances) were £152 billion, up 5%. Weighted risk assets were
£180 billion, up 4%.

The acquisition of the retail stockbroking business Charles Schwab Europe was
completed on 31st January 2003. The business is being integrated with Barclays
Stockbrokers, part of Barclays Private Clients.

On the 8th May 2003, Barclays announced that Barclays Bank SA had made an agreed
offer to acquire Banco Zaragozano. The offer is subject to approval from the
Bank of Spain and CNMV (the Spanish Securities Market Commission) and is
conditional on shareholders controlling more than 75% of Banco Zaragozano
accepting the offer. The transaction is expected to complete in July 2003.

Results timetable:

2003 interim results announcement:               Thursday 7th August 2003
Ex dividend date:                                Wednesday 13th August 2003
Dividend record date:                            Friday 15th August 2003
Dividend payment date:                           Wednesday 1st October 2003
2003 full year pre close date:                   Tuesday 2nd December 2003
2003 preliminary results announcement:           Thursday 12th February 2004
2004 Annual General Meeting:                     Thursday 29th April 2004



For further information please contact:

Investor Relations                                Media Relations
James S Johnson/Cathy Turner                      Chris Tucker/Leigh Bruce
[phone]/3638                         [phone]/2658





This document contains certain forward-looking statements within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, and Section
27A of the Securities Act of 1933, as amended, with respect to certain of the
Group's plans and its current goals and expectations relating to its future
financial condition and performance. These forward looking statements can be
identified by the fact that they do not relate only to historical or current
facts. Forward looking statements sometimes use words such as 'anticipate',
'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe' or other
words of similar meaning. By their nature, forward looking statements involve
risk and uncertainty because they relate to future events and circumstances,
including but not limited to UK domestic and global economic and business
conditions, market related risks such as changes in interest and exchange rates,
the policies and actions of governmental and regulatory authorities, changes in
legislation and the impact of competition 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
forward-looking statements. A more detailed list of these factors is contained
on pages pp124-125 of Barclays PLC Annual Report 2002 that is available on the
Internet at www.investorrelations.barclays.co.uk/ivr/2002_annual_report. Any
forward looking statements made by or on behalf of Barclays speak only as of the
date they are made. Barclays does not undertake to update forward looking
statements to reflect any changes in Barclays expectations with regard thereto
or any changes in events, conditions or circumstances on which any such
statement is based. The reader should, however, consult any further disclosure
that Barclays may make in documents it files with the US Securities and Exchange
Commission.


                                    APPENDIX

                 ADDITIONAL INFORMATION ON BUSINESS PERFORMANCE

Additional detail to the Performance Commentary for income and costs is provided
below.

Income

Operating income: Operating income matched the strong levels of the
corresponding period in 2002.

The income environment in Barclays Private Clients remained difficult as client
sentiment was affected by further declines in the FTSE 100 Index which fell by
8% or 330 points during the quarter (and by 32% or 1,660 points relative to the
end of the first quarter of 2002). Barclays Capital secondary income, comprising
net interest income and dealing profits, was lower than that generated by the
strong performance of the first quarter of 2002, but improved significantly
relative to the fourth quarter of 2002.

Net interest income: In Personal Financial Services, net interest income rose
modestly on the corresponding period in 2002, and showed a marked upturn
relative to the fourth quarter of 2002 reflecting the effects of balance
recruitment during 2002. Customer assets maintained satisfactory progress,
growing relative to the levels at the end of 2002. Ongoing selectivity in
mortgages resulted in an increase in margins, and a market share of net new
lending consistent with that of the fourth quarter of 2002. Customer liabilities
maintained good growth, consequent on the continued success of Barclays branded
savings, particularly in Openplan.

Net interest income at Barclays Private Clients fell versus the comparable
period in 2002, largely reflecting the FirstCaribbean transaction. Barclaycard
saw strong growth relative to the first quarter of 2002 although this partly
reflected the inclusion of Monument. Extended credit balances at Barclaycard
International grew strongly.

Business Banking net interest income was maintained at the level of the
comparable period in 2002, with the benefit of loan and deposit volume growth
being offset by the impact of lower deposit margins. Barclays Africa achieved
good growth in net interest income. Barclays Capital net interest income was
higher than the strong first quarter in 2002.

Net interest margins: In Personal Financial Services, net interest margins in
the first quarter of 2003 strengthened versus the second half of 2002 although
they were generally lower than in the prior year period. The consumer lending
margin strengthened in the period but the savings margin was lower. Barclaycard
business margins were broadly stable relative to the comparable period.

Business Banking lending margins were stable in the first quarter. Deposit
margins weakened slightly.

Net fees and commissions: In Personal Financial Services, fees and commissions
were broadly flat reflecting good growth in insurance income and improved income
from fee based value added current accounts, offset by lower income from
independent financial advice. Barclays Private Clients fees and commissions fell
sharply, but stabilised relative to the fourth quarter of 2002.

Barclaycard experienced good fees and commissions growth. This was partly due to
the impact of the acquisition of Monument, but it also reflected higher merchant
transaction volumes and the continued expansion of Barclaycard International.

Business Banking achieved good growth in fees and commissions relative to the
comparable period in 2002, benefiting from stronger lending related fees.
Barclays Capital primary income, principally fees and commissions, achieved good
growth in the period.

Barclays Global Investors fees and commissions grew reflecting strong new
business volumes, moderated by currency effects and the significantly lower
quarter on quarter average index levels. Assets under management at 31st March
2003 were £480 billion (31st December 2002: £462 billion).

Income from the closed life assurance activities will be disclosed separately
within Barclays Private Clients in the 2003 Interim results. Income from the
closed life assurance activities fell, affected by the decline in the FTSE 100
Index.

Costs

Personal Financial Services and Business Banking are the two businesses most
impacted by the move to a pensions charge in 2003 from a pensions credit in 2002
and earlier years. Both businesses, excluding the pensions impact, continued to
demonstrate stringent cost control.

Barclays Private Clients total costs fell, in part reflecting the effects of the
reconfiguration of the Caribbean business which were partially offset by the
impact of the Charles Schwab Europe acquisition. Costs remained tightly
controlled based on action taken by management in response to the hostility of
the environment during the quarter.  This fully mitigated the impact of the
pension charge.

Growth in costs in Barclaycard reflected the impact of ongoing investment in
this business, in particular the acquisition of Monument and increased marketing
spend.

Costs in Barclays Capital and in Barclays Global Investors continued to be
tightly managed.


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            The company news service from the London Stock Exchange