BZW appoints Johnson as Head of Foreign Exchange Sales.

NEW YORK--(BUSINESS WIRE)--Aug. 27, 1997--BZW, the global investment banking division of Barclays Bank, PLC, (ADR: BCS, BARC LN) today announces the appointment of David Johnson as a Director and Head of Foreign Exchange Sales within the Global Markets Division, Americas. Johnson will report to Andy Robertson, Managing Director and Head of Foreign Exchange, Americas.

Johnson joins BZW from Morgan Stanley & Co. where he held the position of Principal-FX Sales responsible for hedge and mutual funds. Prior to Morgan Stanley, he spent five years at Merrill Lynch, most recently as a Director and Head of U.S. Sales, Non-Dollar Fixed Income.

Commenting on his appointment, Thomas L. Kalaris, President, BZW Securities Inc. said, "This appointment will significantly strengthen BZW's foreign exchange operations in North America. We view the recent consolidation in the foreign exchange markets in New York as an opportunity to build on our already commanding position in sterling. David's expertise in fixed income and derivatives fits our strategy of aligning the foreign exchange business with the rest of the firm globally." Adding to this Paul Thrush, Global Head of Foreign Exchange said, "The firm is making a concerted effort in expanding its global presence in emerging markets, derivative products and proprietary trading. David brings a wealth of experience to our global FX sales franchise."

Johnson, a graduate of the University of Virginia, is married with three children and resides in Short Hills, N.J.

CONTACT: BZW, Corporate Communications

Linda Wynns, 212/412-3825