News Room

OFICIAL Statements

The Fondo de Garantía de Depósitos en Establecimientos Bancarios (FGD) has been informed today that an edict was issued by the judge of the Court of First Instance nº 4, of Madrid, issuing an execution order against Barclays Bank, S.A., for the consignment of “€ 1,021,877,955.54 million of principal and € 100,000,000 million of fees & costs” at the request of Mr. Domingo López Alonso, former chairman of Banco de Valladolid, S.A.

On December, 1978, within the framework of a restructuring plan of Banco de Valladolid, SA, launched with the purpose of overcoming the grave crisis it was subject to, Mr. Domingo López Alonso sold his majority share of the capital in Banco de Valladolid, S.A. to Corporación Bancaria, S.A., the precursor of the FGD. Once the restructuring was completed, the bank was aquired in April, 1981, by the English bank Barclays Bank International Limited, which changed its name to Barclays Bank, S.A. Corporación Bancaria, S.A., and later the FGD, assigned an indemnity warranty, both in legal and financial terms, for the consequences of any judicial proceedings brought by Mr. Domingo López Alonso for deeds or actions prior to the said sale. In consequence this issue will not have any impact for Barclays Bank, S.A., nor for the Barclays Group to which it belongs to.

The FGD will take all the necessary legal actions it deems necessary to contest and oppose itself to the execution order, which it considers unfounded and not applicable by Law, in accordance to the obligations set out by the current guidelines.

January 17, 2005