16th Apr 2007 08:00
Barclays PLC16 April 2007 16th April 2007 BARCLAYS PLC Barclays sells Barclays Global Investors Japan Trust & Banking Co., Ltd. to The Sumitomo Trust & Banking Co., Ltd. Barclays Bank PLC ('Barclays') today announces the sale of Barclays GlobalInvestors Japan Trust & Banking Co., Ltd. ('BTB'), the trust administration andcustody operation in Japan of Barclays asset management division, BarclaysGlobal Investors ('BGI'), to The Sumitomo Trust & Banking Co., Ltd. ('STB') fora consideration of approximately JPY4.9 billion (approximately £21 million)payable in cash. In addition to its trust administration and custody services, BTB provides assetmanagement services to pension and asset management clients. Under the terms ofthe agreement with STB, BGI will consolidate the asset management business ofBTB into Barclays Global Investors Japan Limited prior to completion of the saleof BTB. Completion of the transaction is subject to regulatory approval and is expectedto occur around the end of 2007. - ENDS - For further information please contact: Barclays Investor Relations Media RelationsMark Merson/James S Johnson Alistair Smith+44 (0) 20 7116 5752/2927 +44 (0) 20 7116 6132 Contact at Barclays Global Investors: Gavin Anderson Japan Deborah Hayden / Yukako Yoshino +81 (0)3 5404 0640 The Sumitomo Trust & Banking Co., Ltd. IR Office, Financial Management Dept.+81 (0)3 3286 8354 About BarclaysBarclays PLC is a major global financial services provider engaged in retail andcommercial banking, credit cards, investment banking, wealth management andinvestment management services. It is one of the largest financial servicescompanies in the world by market capitalization. With over 300 years of historyand expertise in banking, Barclays operates in over 50 countries and employs123,000 people. Barclays moves, lends, invests and protects money for over 27million customers and clients worldwide. For further information about Barclays,please visit our website www.barclays.com. About Barclays Global InvestorsBarclays Global Investors ('BGI') is one of the world's largest asset managersand a leading global provider of investment management products and services.BGI has 2,900 institutional clients and over US$1.8 trillion of assets undermanagement. BGI is the global product leader in Exchange Traded Funds (iShares)with over 190 funds for institutions and individuals trading in fifteen markets.Globally, it has $287 billion of iShares assets under management. In Japan, BGIhas two principal operating entities: Barclays Global Investors Japan Trust &Banking Co., Ltd. ('BTB'), a licensed trust bank, and Barclays Global InvestorsJapan Limited ('BJL'), a licensed investment trust and investment advisorycompany. BTB is the largest foreign owned trust bank in terms of corporatepension trust assets under management and BJL is the largest foreign ownedpension asset manager in Japan. The two entities combined manage a total ofapproximately JPY19 trillion yen. For further information about Barclays GlobalInvestors, please visit our websites www.barclaysglobal.com andwww.barclaysglobal.co.jp. About The Sumitomo Trust & Banking Co., Ltd.The Sumitomo Trust & Banking Co., Ltd. ('STB') is a prominent trust bank,providing Japanese clients with banking, trust, and real estate services. STBhas JPY11.1 trillion of deposits, JPY10.6 trillion of loans and manages JPY70.8trillion of trust assets as at end September 2006. STB operates through 60domestic and 4 international branches/offices, and promotes global custodyservices utilizing its subsidiaries in United States and Luxembourg. STBcompleted the repayment of public funds in January 2004, which was one of theearliest recoveries from governmental support. Being autonomous and independentof Japanese mega bank groups, STB has effectively and strategically extendedcapital investment and business alliances to expand its customer franchise andbusiness networks. STB has capabilities both to provide asset managementservices and to administer the processing of securities of such trust funds ascorporate pension trusts, public funds, and other institutional investmentvehicles. In 2001, STB started a joint venture with Resona Bank and Mitsui TrustHoldings, two other major trust institutions in Japan, in securities processingbusiness by establishing Japan Trustee Services Bank, Ltd. ('JTSB'). JTSB hasbeen successful in providing efficient, value-added, customer-focused servicesto achieve trust assets of over JPY156 trillion as at end September 2006. STB'sstrength in real estate business rests not only in the brokerage business butalso in the rapidly developing securitization and real estate investmentmanagement businesses. For further information, please visit our websitewww.sumitomotrust.co.jp/IR/company/index_en.html. Forward-looking statementsThis document contains certain forward-looking statements within the meaning ofSection 21E of the US Securities Exchange Act of 1934, as amended, and Section27A of the US Securities Act of 1933, as amended, with respect to certain of theGroup's plans and its current goals and expectations relating to its futurefinancial condition and performance. These forward-looking statements can beidentified by the fact that they do not relate only to historical or currentfacts. Forward-looking statements sometimes use words such as 'aim','anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal','believe', or other words of similar meaning. Examples of forward-lookingstatements include, among others, statements regarding the Group's futurefinancial position, income growth, impairment charges, business strategy,projected levels of growth in the banking and financial markets, projectedcosts, estimates of capital expenditures, and plans and objectives for futureoperations. By their nature, forward-looking statements involve risk and uncertainty becausethey relate to future events and circumstances, including, but not limited to,the further development of standards and interpretations under InternationalFinancial Reporting Standards (IFRS) applicable to past, current and futureperiods, evolving practices with regard to the interpretation and application ofstandards under IFRS, as well as UK domestic and global economic and businessconditions, market related risks such as changes in interest rates and exchangerates, the policies and actions of governmental and regulatory authorities,changes in legislation, progress in the integration of Absa into the Group'sbusiness and the achievement of synergy targets related to Absa, the outcome ofpending and future litigation, the success of future acquisitions and otherstrategic transactions and the impact of competition-a number of which factorsare beyond the Group's control. As a result, the Group's actual future resultsmay differ materially from the plans, goals, and expectations set forth in theGroup's forward-looking statements. Any forward-looking statements made by or onbehalf of Barclays speak only as of the date they are made. Barclays does notundertake to update forward-looking statements to reflect any changes inBarclays expectations with regard thereto or any changes in events, conditionsor circumstances on which any such statement is based. The reader should,however, consult any additional disclosures that Barclays has made or may makein documents it has filed or may file with the SEC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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