Barclays, Base Prospectus 2006

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With the exception of Barclays Capital Japan Limited which operates in Japan, the country of
registration or incorporation is also the principal area of operation for each of the above undertakings.
Investments in these undertakings are held directly by Barclays Bank PLC except where marked *.
Trend Information and Information on the Issuer’s Financial Position
Save as disclosed in this Base Prospectus there has been no significant change in the financial position
of the Issuer or the Group and there has been no material adverse change in the prospects of the Issuer
or the Group since 31st December, 2005 (the date of the last published audited financial statements of
Barclays Bank PLC).
Recent developments, competition and regulatory matters
On 13 March 2006 the Issuer announced that it had signed a non-binding letter of intent with Canadian
Imperial Bank of Commerce ("CIBC") for the sale of Barclays 43.7 per cent. stake in FirstCaribbean
International Bank ("FirstCaribbean") to CIBC. The transaction is anticipated to take place at a price
of US$ 1.62 per FirstCaribbean share with a total transaction value of approximately US$ 1.08 billion.
The proposed transaction is subject to the completion of due diligence, the negotiation and execution of
definitive documentation and regulatory approval. It is anticipated that the transaction will complete
late in 2006.
On 1 January 2006, Barclays completed the sale to Absa Group Limited of the Barclays South African
branch business (the "Business"). The Business consists of the Barclays Capital South African
operations and Corporate and Business Banking activities carried out by International Retail and
Commercial banking (South African branch), together with the associated assets and liabilities.
There is continuing political and regulatory scrutiny of, and major changes in, legislation and
regulation of the retail banking and consumer credit industries in the UK and elsewhere.
In the European Union ("EU") as a whole, this includes an inquiry into retail banking in all 25 member
states by the European Commission's Directorate General for Competition. The inquiry is looking at
retail banking in Europe generally and the Group is co-operating with the inquiry. The outcome of the
inquiry is unclear, but it may have an impact on retail banking in one or more of the EU countries in
which the Group operates and therefore on the Group's business in that sector.
In the UK, in September 2005, the Office of Fair Trading ("OFT") received a super-complaint from the
Citizens Advice Bureau relating to payment protection insurance ("PPI"). As a result of its inquiries,
the OFT commenced a market study on PPI on 3rd April, 2006. The impact of the study cannot be
known at present.
In relation to UK consumer credit:
• The OFT has carried out investigations into Visa and MasterCard credit card interchange rates.
The decision by the OFT in the MasterCard interchange case is being appealed to the
Competition Appeals Tribunal and the appeal is expected to be heard towards the end of 2006.
The OFT's investigation in the Visa interchange case is at an earlier stage.
• The OFT has also been investigating the level of late and over-limit fees on credit cards. The
OFT announced its findings on 5th April, 2006 requiring a response from credit card companies
by 31st May, 2006. Barclaycard has responsed by confirming that it will be reducing its late and
over-limit fees.
These investigations are looking at several aspects of the UK consumer credit industry and the Group is
co-operating with them. The outcome of most of them is not known but they may have an impact on
the consumer credit industry in general and therefore on the Group's business in this sector.
The OFT announced in January 2006 that it would be reviewing the undertakings given following the
conclusion of the Competition Commission Inquiry in 2002 into the supply of banking services to
small-medium enterprises. The OFT commenced that review in April 2006 and anticipates that it will
take them 9 months. The Group will cooperate fully with that review.