Conversion of Securities

Exercise by PCP Gulf Invest 3 Limited of certain warrants in Barclays PLC

PCP Gulf Invest 3 Limited ("PCP3") announces its exercise today of the 131,602,175 warrants it holds in Barclays PLC for an aggregate exercise price of approximately GBP 260m.

Following such exercise and once the ordinary shares in Barclays PLC resulting from such exercise are issued, PCP3 will continue to have an interest in 6.3% of the ordinary share capital of Barclays PLC.

As announced in the RNS of 7 October 2010, this holding of 758,437,618 shares has been entirely hedged, allowing PCP3 to lock in a significant gain on Barclays PLC shares while retaining further upside.