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Index Products

Barclays Capital Euro Government Inflation-Linked Bond Index

The Barclays Capital Euro Government Inflationlinked bond index measures the performance of the euro zone government inflation-linked bond market. The index currently includes bonds from France, Italy, Germany and Greece. Since its inception the index has become the leading benchmark for euro inflation-linked funds. Barclays Capital is a world-leader in inflationlinked products. We are the key market-maker in global inflation-linked securities, top-tier lead manager of issuance and a major innovator in this asset class. Barclays Capital Euro Government IL Index historical returns
14 Period Return (%) 10 6 2 -2 00 01 02 03 04 05 06 07 08 YTD

Barclays Capital Euro Government Inflation-Linked Bond Index Characteristics

30 November 2008 Euro Government Index FRCPI-Linked EMU HICP-Linked France Italy Germany Greece Market Cap bn 248.5 63.3 185.2 133.9 78.5 22.7 13.4 Weight % of overall 100.0 25.5 74.5 53.9 31.6 9.1 5.4 No of Issues 22 5 17 11 7 2 2 Average Real Yield 2.97 2.60 3.08 2.61 3.38 2.51 3.95 Average Life 9.87 7.91 10.51 9.32 10.03 6.14 19.19 Average Mod Duration 7.82 6.90 8.13 7.68 7.64 5.63 13.95

Barclays Capital Euro Govt IL Index historical weights

100% 80% 60% 40% 20% 0% 99 00 01 02 03 04 05 06 07 08 France FRCPI-linked France EMU HICP-Linked Italy Greece Germany

Issuer and rating breakdown on 30 November 2008

120% A AAA

Italy 32%

100% 80%

France 54% Germany 9%

60% 40% 20%

Greece 5%

0% Rating

Source for all tables and charts: Barclays Capital.

Barclays Bank PLC is registered in England No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP. Copyright Barclays Bank PLC, 2005 (all rights reserved). This document is confidential, and no part of it may be reproduced, distributed or transmitted without the prior written permission of Barclays. Barclays Capital is the investment banking division of Barclays Bank PLC, which is authorised and regulated by the UK Financial Services Authority and a member of the London Stock Exchange.

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General Characteristics and Index Rules

Index characteristics Base date Maturity Indices Additional indices Issuer type Bond type Linking index Rating Coupon type Maturity Issue date Min issue size Pricing Methodology Settlement conventions Index frequency and reinvestment 31 December 1999. Country indices are available since the inception of each market. A standard maturity breakdown is 1-3yr, 3-5yr, 5-7yr, 7-10yr, 10-15yr and >15yrs. In addition, 1-5yr, 5-10yr, 5-15yr, 110yrs, >10yrs indices are also available Foreign and hedged indices are available in AUD, CAD, CHF, GBP, JPY, SEK , SGD, USD and in ZAR. Issuer must be an EMU member state Bonds must be capital-indexed and linked to an eligible inflation index. They should be denominated in euros and pay coupon and principal in euros. The linking index can either be a domestic inflation index or the harmonised EMU HICP. Long-term local currency ratings from S&P and Moodys are considered, and the lower of the two is used for the index. All issues must have a rating of A3/A- or above. The notional coupon of a bond must be fixed or zero. Bonds must have a minimum remaining life of greater than one year on the rebalancing date. Bonds must settle on or before the rebalancing date to be eligible for the index. The issue size must be equal to or in excess of 500mn. The index uses mid-market real prices from the Barclays Capital market makers at 4.15pm London time. All spot and forward foreign exchange rates used are official WM Company mid rates from London market at 4pm. The index uses standard settlement conventions for all calculations. Market calendars most appropriate for international investors are used. The index is calculated daily and has a value for each calendar day. This allows simple calculation of returns without going to the bother of adjusting start and end dates according to the business calendar. From 30 June 2006 income from coupon is reinvested monthly at re-balancing. Income received during the month is invested until the end of month at a 1M Euro LIBOR -15bp set at the end of the month for the next month. Prior to 30 June 2006 income from coupon was reinvested in the index as soon as it was received. The index is reviewed and rebalanced once a month, on the last calendar day of the month. New bonds and taps/increases entering the index must have settled on or before the rebalancing date. In the Barclays Capital indices, maturity bands are exclusive at the lower bound. Bonds are allocated to maturity bands based on their maturity date. The index holding of each bond for the next month is set to the amount outstanding on the review date. The face values are used rather than an inflation-adjusted value. The indices are weighted using the market capitalisation as standard.

Criteria for inclusion in the index

Index calculation and monthly review

Review procedure Maturity Bands Index Holdings

Data Publication, Distribution and licensing

Publication Distribution The Barclays Capital Euro Govt Inflation-Linked Index is calculated daily on UK business days and published on the Barclays Capital Indices Website. Index data is available via the Barclays Capital Indices website and other data vendors: Barclays Capital Global Inflation-Linked Bond Index Website: www.barcap.com/indices Bloomberg: The index data is available via BEIG Index <GO> The indices designed, calculated and published by Barclays Capital are registered trademarks. The right to use one or more of these indices as underlying for OTC or exchange tradable structured products (warrants, certificates, ETFs, swaps) is granted only upon completion of a license agreement. For further information please contact us.
Barclays Capital Index Products Team London index-uk@barcap.com +44 207 773 3744 New York index-us@barcap.com +1 212 526 7400 Tokyo index-tk@barcap.com +81 3 4530 1760 Hong Kong/Singapore index-hk@barcap.com +852 2903 2652 www.barcap.com/indices www.lehmanlive.com (keyword: index) General Inquiries: index@barcap.com

Licensing

Contact

This document has been prepared by Barclays Capital, the investment banking division of Barclays Bank PLC ("Barclays"), for information purposes only. Barclays is not acting as advisor or fiduciary. Accordingly you must independently determine, with your own advisors, the appropriateness for you of the index. Barclays and its affiliates accepts no liability whatsoever (i) for the accuracy, completeness or currency of the index, or for delays or omissions therein, or for interruptions in the delivery of the index, or (ii) for any indirect, incidental or consequential losses arising from the use of this document or reliance on the index referred to, or other information contained, herein. Barclays has no obligation to take the needs of investors into consideration in determining, composing or calculating the index. Barclays does not guarantee the accuracy or completeness of information which is contained in this document. Any data on past performance, modelling or back-testing contained herein is no indication as to future performance. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any modelling or back-testing. All opinions and estimates are given as of the date hereof and are subject to change. The information in this document is not intended to predict actual results and no assurances are given with respect thereto. Barclays makes no warranty, express or implied, as to results to be obtained for the use of the index or any other information contained herein. Barclays makes no warranties, express or implied, and hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data contained herein. In the UK, this document directed only at persons who are investment professionals as defined in Article 19 of the FSMA 2000 (Financial Promotion Order) 2001. Outside of the UK, it is directed at persons who have professional experience in matters relating to investments. Any service to which this document relates will be provided only to such persons. This document is not intended for distribution to retail customers.