Possible Offer

RNS Number:4451L
Barclays PLC
25 April 2005


Announcement by Barclays PLC and Barclays Bank PLC

Shareholders are advised that Absa have today made the further cautionary
announcement set out below regarding discussions relating to the possible
acquisition by Barclays Bank PLC of a majority stake in Absa.

Text of Absa announcement made on Monday 25 April 2005

Absa Group Limited
(Incorporated in the Republic of South Africa)

FURTHER CAUTIONARY ANNOUNCEMENT

Shareholders are referred to previous cautionary announcements released on SENS,
the JSE Securities Exchange News Service, the last one appearing on 4 April 2005
regarding discussions relating to the possible acquisition of a majority stake
in Absa by Barclays Bank PLC ("Barclays").

Subsequent to 4 April Barclays and Absa have been engaged in extensive
discussions regarding the terms of a possible transaction. The parties have also
had a series of meetings with large shareholders during which the possibility of
a partial offer to acquire 60% of Absa shares at a price of R79.00 (plus a final
dividend for the year ended 31 March 05 estimated at the time to be
approximately R1.80) was discussed.

Barclays and Absa have also estimated that, should a transaction proceed, it is
expected that the combination would produce significant synergies by
accelerating the strategic objectives of both parties improving Absa's pre-tax
profits by approximately R1.4bn per annum four years after completion (after
incurring implementation costs of approximately R1.8bn over the first three
years).

Barclays and Absa are considering the feedback from Absa shareholders and will
now determine whether a transaction would receive the requisite support from
shareholders on terms acceptable to Barclays, at which stage Barclays will
revert to the regulatory authorities for final consideration.

Shareholders should note that this announcement does not constitute a firm
intention to make an offer by Barclays. Shareholders are advised that should an
offer be made it may or may not be at a premium to the prevailing market price.
Shareholders should continue to exercise caution when dealing in Absa securities
until such time as a further announcement is made.

JOHANNESBURG
25 April 2005

                                     -ENDS-

This announcement 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 US Securities Act of 1933, as amended, with respect to certain of the
Barclays plans and its current goals and expectations relating to the potential
transaction described above. By their nature, forward-looking statements involve
risk and uncertainty because they relate to future events and circumstances,
including, but not limited to, domestic and global economic and business
conditions, market related risks such as changes in interest rates 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 Barclays control. As a result, actual future results may differ
materially from the plans, goals and expectations set forth in the
forward-looking statements.

For further information please contact:

Investor Relations                 Media Relations
James S Johnson 020 7116 2927      Chris Tucker 020 7116 6223




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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