BARC Barclays Plc

RNS No 5626u
BARCLAYS PLC
13 April 1999


                  BARCLAYS NEW GROUP CHIEF EXECUTIVE RETIRES                  
                              ON HEALTH GROUNDS                               

Barclays PLC regrets to announce that Michael E O'Neill has today resigned his
appointment as Group Chief Executive and as a Director of Barclays PLC and of
Barclays Bank PLC on health grounds.

Despite a successful medical examination which Mr O'Neill had before a formal
offer was made and we announced his appointment on 11th February, late last
week it became evident that complications had arisen from an arrhythmic heart
beat discovered after his recent influenza.  Following further confirmatory
medical tests in London yesterday, Barclays has reluctantly agreed with Mr
O'Neill that the situation is sufficiently serious that he should not take up
his appointment.

Sir Peter Middleton will be Group Chief Executive until a replacement is
named.  As previously announced, Andrew Buxton will retire as Chairman
immediately following the Annual General Meeting on 23rd April when Sir Peter
will succeed him, fulfilling both roles until the new Chief Executive is
appointed.  In addition, Oliver Stocken will continue as Finance Director for
the time being.

Mr O'Neill said:  "I am deeply disappointed to give up what was for me a dream
appointment and the culmination of my whole career.  Though the condition that
has been diagnosed is treatable and not life-threatening, on my doctors'
advice I have concluded that it would be unwise to take up this appointment. 
Under the circumstances, I believe it is in the best interests of everyone
concerned for me to retire from work with immediate effect."

Sir Peter Middleton said:  "This is a great shock to us all, and our sympathy
goes out to Mike O'Neill whose career has been so suddenly cut short. 
However, we will not allow this to distract us from maintaining the momentum
of our business and focusing on delivering for our customers and shareholders.
 Barclays has proved in recent months that it has committed employees led by a
strong management team.   All the Group's businesses have made a good start to
the year.  We will appoint a new Group Chief Executive as soon as possible."

For further information, please contact:

Leigh Bruce                                     Ian Roundell
Corporate Communications                        Investor Relations
Barclays PLC                                    Barclays PLC
Tel: 0171 699 2658                              Tel: 0171 699 2961

END

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