Barclays, Base Prospectus 2006

1. Summary of the "Risk Factors"
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An investment in the Notes involves certain risks relating to the Issuer and the relevant Tranche of
Notes. While all of these risk factors are contingencies which may or may not occur, potential investors
should be aware that the risks involved with investing in the Notes may (i) affect the ability of the
Issuer to fulfill its obligations under Notes issued under the Programme and/or (ii) lead to a volatility
and/or decrease in the market value of the relevant Tranche of Notes whereby the market value falls
short of the expectations (financial or otherwise) of an investor upon making an investment in such
Notes.
Prospective investors should consider two main categories of risk, (i) "Risks Relating to the Notes",
and (ii) "Risks Relating to the Issuer", a summary of which is set out below:
Risks Relating to the Notes
Equity Linked Notes
Equity Linked Notes are debt securities which do not provide for predetermined redemption amounts
and/or interest payments. Redemption amounts and/or interest payments will depend on the market
value of the underlying securities which might be substantially less than the issue price or, as the case
may be, the purchase price invested by a Noteholder and may even be zero in which case the
Noteholder may lose his entire investment. If the underlying securities are to be delivered instead of
cash redemption, the value of such securities may also be substantially less than the issue price or, as
the case may be, the purchase price invested by the Noteholder.
Commodity Linked Notes
Commodity Linked Notes are debt securities which do not provide for predetermined amounts and/or
interest payments and may be linked to one or more commodit(y)(ies). The amount of principal and/or
interest, if any, payable by the Issuer might be substantially less than the issue price or, as the case may
be, the purchase price invested by the Noteholder and may even be zero in which case the Noteholder
may lose his entire investment.
Index Linked Notes
The amount of principal and/or interest, if any, payable by the Issuer on Index-Linked Notes might be
substantially less than the issue price or, as the case may be, the purchase price invested by the
Noteholder and may even be zero in which case the Noteholder may lose his entire investment.
Currency Linked Notes
In the case of Currency Linked Notes, fluctuations in the value of the currency or currencies in or to
which the Notes are linked will also affect the value of such Notes. Where the Notes are Currency
Linked Notes, the Determination Agent may determine that a Disruption Event has occurred at any
relevant time.
Credit Linked Notes
Credit Linked Notes differ from ordinary debt securities in that the amount of principal and/or interest
payable is dependent on whether a credit event has occurred and that payments (whether at maturity or
earlier) will be triggered by the absence or occurrence of a Credit Event and that this may be less than
the full amount of the Noteholders' initial investment and result in investors not receiving repayment of
the Issue Price or, as the case may be, the purchase price invested by the Noteholder.
Credit Linked Notes will not be issued as securities which could be qualified as "Asset backed
securities" in the meaning of article 2(5) of the Commission Regulation (EC) No 809/2004 of 29 April
2004.
Provision of Information
None of the Issuers, the Manager(s) or any of their respective affiliates makes any representation as to
any issuer of Underlying Securities or Reference Entities.
Potential Conflicts of Interest
Each of the Issuer, the Manager(s) or their respective affiliates may deal with and engage generally in
any kind of commercial or investment banking or other business with any issuer of Underlying