This website has been prepared by Barclays Capital, the investment banking division of Barclays Bank PLC ("Barclays"), for information purposes only. This website contains indicative summaries of the terms and conditions of products described herein and may be amended, superseded or replaced by subsequent summaries. The final terms and conditions of the product will be set out in full in the applicable legal documentation.

None of the information on this website shall constitute an underwriting commitment, an offer of financing, an offer to sell, or the solicitation of an offer to buy any products described herein, which shall be subject to Barclays' internal approvals. No product or service related thereto is contemplated without Barclays' subsequent formal agreement. Barclays is acting solely as principal and not as advisor or fiduciary. Products of the type described herein may involve a high degree of risk, and the value of such products may be highly volatile. Such risks may include, without limitation, risk of adverse or unanticipated market developments, risk of counterparty or issuer default and risk of illiquidity. Accordingly you must independently determine, with your own advisors, the appropriateness for you of the product before investing. Barclays accepts no liability whatsoever for any consequential losses arising from the use of this website or reliance on the information contained herein. In no event will Barclays or any of its affiliates be liable to you or any third party for any loss, damage or injury arising from or in connection with your use of this website, whether in tort, contract, strict liability or otherwise except for liability arising out of gross negligence or wilful misconduct. WITHOUT LIMITING THE FOREGOING, IN NO EVENT WILL BARCLAYS OR ANY OF ITS AFFILIATES BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY LOST PROFITS, LOST OPPORTUNITY, INDIRECT, SPECIAL, EXEMPLARY, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES WHATSOEVER, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Some jurisdictions may provide rights in addition to those above or may not allow the exclusion or limitation of implied warranties or liability for incidental or consequential damages. Therefore, some of the above limitations may not apply to you or there may be provisions which supersede the above.

Barclays does not guarantee the accuracy or completeness of information which is contained in this website and which is stated to have been obtained from or is based upon trade and statistical services or other third party sources. 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 value of any investment may fluctuate as a result of market changes. The information in this website is not intended to predict actual results and no assurances are given with respect thereto. Internet communications may not be secure.

Where any products described on this website are linked to an index, such product(s) are not sponsored, endorsed, sold or promoted by any of the index sponsors. Index sponsors are owners of their relevant trademarks or service marks. No index sponsor makes any representation or warranty, express or implied, to the owners of the products(s) or any member of the public regarding the advisability of investing in the product(s). None of the index sponsors has any obligation to take the needs of Barclays, the owners of the product(s) or other persons into consideration in determining, composing or calculating the indices. No index sponsor is responsible for or has participated in the determination of the timing of, prices at, or quantities of the product(s) to be issued or in the determination or calculation of the equation by which the product(s) may be converted if applicable, into cash. No index sponsor has any obligation or liability in connection with the administration, operation, marketing, sale or trading of the product(s).

THIS WEBSITE IS PROVIDED "AS IS" WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. TO THE FULLEST EXTENT PERMITTED BY LAW, BARCLAYS AND ITS AFFILIATES HEREBY EXPRESSLY DISCLAIM ANY AND ALL EXPRESS, IMPLIED AND STATUTORY REPRESENTATIONS AND WARRANTIES OF ANY KIND TO YOU AND/OR ANY THIRD PARTY INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, THE USE OR INABILITY TO USE THIS WEBSITE, OR THE CORRECTNESS, QUALITY, ACCURACY, RELIABILITY, PERFORMANCE, COMPLETENESS, TIMELINESS, ERROR OR VIRUS-FREE NATURE OR CONTINUED AVAILABILITY OF THE WEBSITE. Barclays and its affiliates reserve the right to make changes or improvements to the website (including to these disclaimers) and to discontinue all or any portion of the website in its sole discretion. Any reliance on the website is at your sole and exclusive risk.

Barclays, its affiliates and the individuals associated therewith may (in various capacities) have positions or deal in products (or related derivatives) identical or similar to those described herein.

In the UK, this website is directed only at persons who are investment professionals as defined in Article 19 of the FSMA 2000 (Financial Promotion) Order 2005. Outside of the UK, it is directed at persons who have professional experience in matters relating to investments. Any investments to which the contents of this website relates are entered into with companies approved by a local regulator to conduct life assurance business and which are approved by Barclays for accepting such investments. The materials contained in this website are not for distribution to retail customers and are not intended for distribution in any jurisdiction where its distribution would be deemed unlawful.

NO ACTION HAS BEEN TAKEN OR WILL BE TAKEN THAT WOULD PERMIT A PUBLIC OFFERING OF THE PRODUCTS DESCRIBED HEREIN IN ANY JURISDICTION IN WHICH ACTION FOR THAT PURPOSE IS REQUIRED. NO OFFERS, SALES, RESALES OR DELIVERY OF THE PRODUCTS DESCRIBED HEREIN OR DISTRIBUTION OF ANY OFFERING MATERIAL RELATING TO SUCH PRODUCTS MAY BE MADE IN OR FROM ANY JURISDICTION EXCEPT IN CIRCUMSTANCES WHICH WILL RESULT IN COMPLIANCE WITH ANY APPLICABLE LAWS AND REGULATIONS AND WHICH WILL NOT IMPOSE ANY OBLIGATION ON BARCLAYS OR ANY OF ITS AFFILIATES.

THIS WEBSITE DOES NOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ISSUES RELATED TO AN INVESTMENT IN THE PRODUCTS DESCRIBED HEREIN. PRIOR TO TRANSACTING, POTENTIAL INVESTORS SHOULD ENSURE THAT THEY FULLY UNDERSTAND THE TERMS OF THE PRODUCTS AND ANY APPLICABLE RISKS. INVESTORS SHOULD ONLY SUBSCRIBE FOR ANY PRODUCTS DESCRIBED HEREIN ON THE BASIS OF INFORMATION IN THE RELEVANT LEGAL DOCUMENTATION, AND NOT ON THE BASIS OF ANY INFORMATION PROVIDED HEREIN.

Barclays Bank PLC is registered in England No. 1026167. Registered Office: 1 Churchill Place, London E14 5HP (tel +44 20 7773 9225; OffshoreSolutions@barclayscapital.com). VAT registration no.: GB 243 8522 62 (c) Barclays Bank PLC, 2007 (all rights reserved). The information contained in this website 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.