Barclays Bank PLC - Re Property IndexCertificates

RNS No 4709v
BARCLAYS BANK PLC
2nd April 1998


                    BARCLAYS PROPERTY INDEX CERTIFICATES
                             LISTED ISSUE - 1998
                                   "PICs"
                  Notification of Income Forecasts for 1998
                       and Income Adjustment for 1997


Forecast IPD Annual Index Income Return for 1998  7.1%
(forecast by IPD, March 1998)

IPD Annual Index Income Return for 1997           7.83%
(certified by IPD, March 1998)

Income Adjustment to Distributions
made in 1997                                      -#0.05 per #100 nominal

Interest Payments Relating to 1998


15th April 1998 #1.91 - #0.05 adjustment for 1997 =    #1.86 per #100 nominal
15th July 1998                                         #1.91 per #100 nominal
15th October 1998                                      #1.91 per #100 nominal
15th January 1999                                      #1.91 per #100 nominal
     
Source: Investment Property Databank Limited ("IPD")

Note
1.   The index referred to as the IPD "Annual Index" is the Investment
Property Databank All Property (Standing Investments excluding Active
Management) Annual Total Return Index.  The IPD Annual Index Income Return is
a component of the Annual Index and both are calculated by IPD from
information held in its annual database which, at 31st December 1997,
contained information relating to individual properties having an aggregate
value of approximately #65.4bn.

Investment Property Databank Limited ("IPD") will not be liable to any holder
of Barclays Property Index Certificates for any loss or damage as a result of
any error in any of the above mentioned indices.  This information has been
prepared by IPD. Whilst it is deemed to be reliable, neither Barclays Bank
PLC nor Barclays Global Investors Limited represents that such information is
accurate or complete and it should not be relied upon as such.  The prices of
investments which trade in limited markets may go up or down.  No part of
this publication may be reproduced in any manner without the written
permission of Barclays Global Investors Limited.

Seal House, 1 Swan Lane              Barclays Global Investors Limited
London EC4R 3UD                      Registered in London England,
Telephone: [phone]             No. 796793
Fax: [phone]                   Registered Office: 54 Lombard
Contact: Iain A Reid FRICS           Street, London EC3P 3AH
or Andrew P R Thomson ARICS          This publication has been
                                     approved by Barclays Global
                                     Investors Limited regulated by IMRO
                                     (c) 1998 Barclays Global Investors
                                     Limited
                                     All rights reserved.
                                      

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