Barclays

Barclays Offshore was the first bank to be granted an offshore banking licence in 1989. Our excellent reputation established over the past 85 years is based, in part, upon our appreciation of the importance of confidentiality, professionalism and integrity of the highest order.

Our extensive network in Africa means that we can provide comprehensive support to businesses with regional operations who may be seeking to co-ordinate their banking arrangements throughout Africa and beyond

Our Products and services:
Accounts in major currencies
We shall be pleased to offer to you accounts in major currencies, which means that we would automatically credit any amount received in a specific currency in that same currency.

Currency Advisory Services
On the basis of in-house forecasts and analysis as well as day-to-day market developments, we would be pleased to discuss with you and/or suggest to you the currency evolutions, as may be anticipated by the market in conjunction with the underlying economic fundamentals. The final decision for the currency strategy would, of course, rest with you.

International Money Payments
Inward Payments
Any amount received by us for your account shall be credited free of any charges, whatsoever.

Outward Payments
We shall be happy to executed on your behalf payments from your account.

Multi-Currency Cheque book
In order to enable you to have an instant mode of settlement, we shall be pleased to put at your disposal a mutli-currency cheque book.

Interest bearing Call Account
Credit balances
Interest will be paid on daily effective credit balances, whereby such interest will be paid on a quarterly basis. We enclose herewith for your kind information a list of indicative interest rates applicable to Call Account in various currencies.

Interest on Fixed Deposit
The underlying interest rate to be applied to Fixed Deposit will be indexed on the LIBID rate (London Interbank rate on Deposits). The deposit periods will be those generally available on the Euro-Market, ranging from 1 week to 360 days.

Foreign Exchange and Derivatives Transactions
These transactions would include all currencies tradable on major Foreign Exchange Markets. Quotes would be on an all-in basis. Moreover, we shall be happy to discuss with you of our services in respect of Derivatives Transactions, so as to assist you in a better hedging of your loan portfolio and any cash flow mismatch.

Investments in International Securities Should you so wish, we shall undertake on you behalf purchases and sales on international securities vis our network worlwide. We shall be pleased to discuss with you, according to your requirements, to set up short, medium and long term investment strategies and financial instruments for a better monitoring of your investments.

Investments in Barclays International Funds (Sicavs)
We shall be happy to set up with you an investment portfolio in Barclays International Funds (Sicavs), namely Equities, Bonds or Cash investment-orientated Funds.

Structured Investments
In view of obtaining better returns on your deposits, we shall be happy to discuss with you the setting up of short, medium and log term principal guaranteed structured deposits, whereby the remuneration is linked to the performance of an international stock market index/indices.
 

Custody Services
We shall be pleased to offer to you Cash Custody services for Investment Funds, targetting the Indian Ocean Rim, African, South East Asian countries as well as India and China.
 

Credit Facilities
We shall be most prepared to discuss with you any financial assistance you may require on a short and medium term basis for working capital and asset purchases, as well as long term credit structured finance in all major currencies.
 

International Trade Instruments
We shall be pleased to offer to you facilities to accommodate issuance of Letters of Credit, Guarantees (Tender, Performance Bond, Advance Payment Guarantee etc...), Indemnities as well as Bill discounting and negotiation of Documentary Collections.
 

Structured Trade and Commodity Finance
We offer to our customers tailored structured financial assistance in trading of commodities, agricultural products as well as financing in mining and metal industry. A specialised team based in South Africa will be most pleased to discuss any financial assistance in this respect.
 

US Dollar & Euro Deferred Debit Card
We can put at your disposal Corporate and Personal Credit Cards based in US Dollar or EURO, offering worlwide payment facility, instant cash, automatic billing and complementary benefits which include travel and medical insurance, international Helpline, seven day a week service, 24 hour replacement card service and up to USD 5,000 emergency cash.
 

Electronic Banking-BusinessMaster International
A PC-based cash management system which gives you access to balance and transaction reporting and facilities for making and authorising payments from any location. It also includes latest security features and electronic mail, thereby, reducing administration and improving efficiency.
 

Next steps
Please contact a / your Relationship Manager if you wish to discuss your requirements in more detail.

Unit Unaudited Interim Financial Statements for quarter ended 31 March 2004

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