BARCLAYS LAUNCH NEW SERVICE FOR THE ONE MILLION PLUS EXPATRIATES LIVING AND WORKING IN THE UK

The growing importance of the United Kingdom as an international financial, commercial and academic centre has led Barclays Private Clients to launch a new service today (January 20, 2003) Destination UK, for the over one million foreign expats living and working in the UK on a short term contract basis.

With over 200,000 foreign expatriates arriving in the UK each year for stays of up to four years, the demand for tailored financial services for these individuals is growing fast. Historically, many foreign nationals re-locating to work in the UK on a short-term contract have found getting their UK finances arranged both complex and frustrating. Destination UK has been launched specifically to help these customers.

Destination UK offers a package of current account, debit card, automatic overdraft facility, credit card and an exclusive UK tax advice service, specifically designed to help international clients make the most of their tax status whilst working in the UK. It also offers both onshore and offshore savings accounts, investment products, mortgages for the purchase of property in the UK and multi-currency accounts.

Customer Benefits:

· A sterling current account for salary payments with interest paid quarterly and an optional automatic overdraft of £1,000 to help pay for any initial expenses when setting up in the UK.
· Barclaycard Gold VISA3 credit card with a guaranteed credit limit of £2,500 and no annual fee.
· Barclays Connect VISA debit card with a cheque book for payment for goods and services wherever you see the VISA or Delta signs and cash withdrawal up to £300 a day from cash machines that display the VISA or LINK logo including all Barclays and Woolwich cash machines.
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International Telephone and Online Banking. This multi currency service lets customers manage their money, across different currencies and time zones, whenever it suits. Customers can check balances, transfer money between accounts, make international payments and open additional accounts all with just a telephone call or click of the mouse.
International payment facility to other accounts (e.g. rent, utility bills etc) in the UK or internationally.

In addition to this extensive package, an exclusive taxation service will be offered to customers by 'i.e.taxguard ltd' that have over 80 years UK tax experience of assisting international customers to understand their tax position whilst resident in the UK.

Frances Brindle, marketing director for Barclays Private Clients International Banking said: "Moving to the UK to live and work is an exciting and challenging time. It can also be a confusing time for people relocating, as financial services and taxation are different to those in their home country. Destination UK is designed to make things as easy and hassle free as possible."

To be eligible for Destination UK, customers need be non-UK nationals living and working in the UK on an annual salary of £25,000 or more (or currency equivalent) which must be paid into the current account.

For further information on Destination UK or to find out more about International Banking products and services, call into a local Barclays branch, or telephone 0845 601 5910.

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