RNS No 2076a
BARCLAYS BANK PLC
18th February 1998


                    BARCLAYS PROPERTY INDEX CERTIFICATES
                        LISTED ISSUES - 1997 and 1998
                                   "PICs"
                 Notification of Provisional Results for the
                      IPD Annual Index to December 1997

In order to provide PIC holders with an early indication of the likely
outcome of the Annual Index (which is not published by Investment Property
Databank Limited ("IPD") until late March of each year), IPD has agreed with
Barclays Bank PLC to prepare preliminary reports on the status of preparation
of the Annual Index (each a "preview").  The preview is based only upon the
data made available by contributing funds to date and has not been subject to
the usual verification process undertaken by IPD and, accordingly, none of
IPD, Barclays Bank PLC or Barclays Global Investors Limited accepts any
responsibility for the accuracy or otherwise of the information contained in
each preview or for any loss or damage resulting from reliance thereon.

IPD ANNUAL INDEX - DECEMBER 1997
Provisional Results as at 18 February 1998

Capital Growth                                               8.6%
Income Return                                                7.9%
Total Return                                                16.6%

Proportion of estimated total funds, by value,
which provisional results sample represents                 36.5%

Source: IPD

Notes
1.   The index referred to as the IPD "Annual Index" is the Investment
Property Databank All Property (Standing Investments excluding Active
Management) Annual Total Return Index.  The IPD Annual Capital Growth Index
is a component of the Annual Index and both are calculated by IPD from
information held in its annual database which at 31 December 1996 contained
information relating to individual properties having an aggregate value of
approximately #52.7 billion.

2.   The Initial Redemption Amount on the 1997 PICs was paid on 16 February
1998 and per Clause 3b of the Listing Particulars, no transfer may be
effected on or after that date.

Investment Property Databank Limited ("IPD") will not be liable to any holder
of Barclays Property Index Certificates for any loss or damage as a result of
any error in any of the above mentioned indices.  This information has been
prepared by IPD. Whilst it is deemed to be reliable, neither Barclays Bank
PLC nor Barclays Global Investors Limited represents that such information is
accurate or complete and it should not be relied upon as such.  The prices of
investments which trade in limited markets may go up or down.  No part of
this publication may be reproduced in any manner without the written
permission of Barclays Global Investors Limited.

Seal House, 1 Swan Lane              Barclays Global Investors Limited
London EC4R 3UD                      Registered in London England,
Telephone: 0171-668 8000             No. 796793
Fax: 0171-668 4970                   Registered Office: 54 Lombard
Contact: Iain A Reid FRICS           Street, London EC3P 3AH
or Andrew P R Thomson ARICS          This publication has been
                                     approved by Barclays Global
18 February 1998                     Investors Limited regulated by IMRO
                                     (c) 1998 Barclays Global Investors
                                     Limited
                                     All rights reserved.


END

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