BARC Barclays Plc

RNS No 2878m
BARCLAYS PLC
1st September 1998


         BARCLAYS STATEMENT REGARDING RUSSIAN EXPOSURE


In the light of the recent significant deterioration in the
Russian economic environment and the consequent turmoil in
the international capital markets Barclays PLC today
announces details of the likely financial effect of this on
the Group.

On 31st August 1998 Barclays had total Russian banking and
net securities trading exposure of some #340 million,
mostly held within Barclays Capital. The majority of this
exposure was in the form of Russian government securities
and financial institutions counterparty credit. The
situation within the country continues to be highly
volatile.  As of today, the Group would expect to make a
charge, taking account of collateral held, of the order of
#250 million during the second half of 1998 to cover
potential losses. The net effect on the Group's 1998 profit
attributable to shareholders after tax is expected to be
some #150 million.

The impact of the situation in Russia on markets in general
has had an adverse effect on trading elsewhere in Barclays
Capital.  Initial indications are that in July and August
Barclays Capital has lost approximately #75 million pre-tax
in addition to the direct consequences of its Russian
exposure.

For further information please contact:

Elizabeth Wade
Director of Corporate Communications
Barclays PLC
Tel: 0171 699 2874/3

Julie-Anne Kaye                    Emma Savage
Group Public Relations             Investor Relations
Barclays PLC                       Barclays PLC
Tel : 0171 699 2970                Tel : 0171 699 2960

http://www.barclays.co.uk


END

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