Structured deposits

The Guaranteed Capital Account is a capital-protected deposit, if held for the full term, offering an attractive rate of interest for one year and exposure to global equity markets over five years. The deposit is split into two Accounts:

One third of capital goes into a one-year Cash Deposit Account offering 8% gross*/AER**, Two thirds of capital go into a five-year account linked to an equally-weighted basket comprising: the FTSE® 100 Index, the Dow Jones EURO STOXX 50®, the Nikkei 225 and the S&P® 500 Index (the “Asset Basket”).

* Gross – the interest paid without the deduction of tax. Individuals should check their own tax situation as there may be a potential tax liability.

** AER – Annual Equivalent Rate illustrates what the interest rate would be if the interest was paid and compounded each year.

Depositors who make a deposit on or before 03 August 2007 will enjoy an interest rate bonus of 1% on the Cash Deposit Account, giving 9% gross*/AER**

The five-year Index Linked Account offers:

• Sterling depositors: 72.50% of any rise (if held for the full term) in the Asset Basket
• US dollar depositors: 55% of any rise (if held for the full term) in the Asset Basket

Key features:

• Available until 20 December 2007
• Available in pound sterling and US dollars
• Minimum investment is £10,000 or US$15,000
• No capital risk provided the deposit is held for the full term
• Returns paid gross
• No withdrawals permitted during the term
• Accounts are held offshore with Barclays Bank PLC in the Isle of Man

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The Guaranteed Emerging Asia Account is a capital-protected deposit (if held for the full term), offering exposure to Asian (ex-Japan) equity markets over five years. The Account offers a return based on the performance of an equally-weighted Asset Basket comprising KOSPI 200 Index, the Hang Seng Index and the Morgan Stanley Taiwan Index (the “Asset Basket”). The Account offers:

• Sterling depositors: 85% of any rise (if held for the full term) in the Asset Basket and
• US dollars depositors: 72.50% of any rise (if held for the full term) in the Asset Basket

Depositors who make a deposit on or before 6 December 2007 will enjoy an enhanced participation bonus of 2.5% irrespective of currency chosen.

Key features:

• Available until 20 December 2007
• Available in pound sterling and US dollars
• Minimum investment is £10,000 or US$15,000
• No capital risk provided the deposit is held for the full term

• Returns paid gross
• No withdrawals permitted during the term
• Accounts are held offshore with Barclays Bank PLC in the Isle of Man

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The Guaranteed Emerging Europe Account is a deposit offering exposure to the emerging European equity markets over five years. The Account offers a return based on the performance of an equally-weighted Asset Basket comprising the CECE® Traded Index and the Russian Depositary Index (RDX®). The Account offers:

• Sterling depositors: 100% of any rise (if held for the full term) in the Asset Basket subject to a maximum return of 100% of the initial capital invested; and
• US dollar depositors: 100% of any rise (if held for the full term) in the Asset Basket subject to a maximum return of 60% of the initial capital invested
• Guaranteed repayment of initial deposit on maturity

The maximum return is increased to 102% (sterling depositors) and 62% (US dollar depositors) if the deposit is made on or before 6 December 2007.

Key features:

• Available until 20 December 2007
• Available in pound sterling and US dollars
• Minimum investment is £10,000 or US$15,000
• No capital risk provided the deposit is held for the full term
• Returns paid gross
• No withdrawals permitted during the term
• Accounts are held offshore with Barclays Bank PLC in the Isle of Man

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The Guaranteed FTSE Range Account is a one-year deposit offering a variable return linked to the performance of the FTSE® 100 Index. Depositors could enjoy a return of up to 11% depending on movements in the index during the term. The Account will generate a return as detailed below if the index remains within one of the following three ranges:

	Lower Barrier	Upper Barrier	Return
Range 1	85% of the starting level	115% of the starting level	11%
Range 2	82.5% of the starting level	117.5% of the starting level	7%
Range 3	75% of the starting level	125% of the starting level	3%
If the FTSE® 100 trades more than 25% below or more than 25% above the starting index level (Initial Index Level) at any time during the term of the deposit, depositors will only receive back their initial capital

The Account also offers repayment of the depositor’s initial deposit on maturity.

Key features:

• Available until 20 December 2007
• Available in pound sterling only
• Minimum investment is £10,000
• No capital risk provided the deposit is held for the full term
• Returns paid gross
• No withdrawals permitted during the term
• Accounts are held offshore with Barclays Bank PLC in the Isle of Man

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