Barclays Capital Appoints Jeff Young Head of North America Foreign Exchange Research

NEW YORK (October 6, 2010) – Barclays Capital today announced the appointment of Jeff Young as a Managing Director and Head of North America Foreign Exchange Research. Mr. Young is based in New York and reports to Piero Ghezzi, Managing Director and Head of Economics, Emerging Markets and FX Research, based in London.

“Jeff’s appointment is part of our ongoing dedication to top-quality Research and to offering insightful, innovative strategy and market commentary," commented Ghezzi.

“We are committed to providing our clients with the best service and products. Jeff’s expertise in the global FX markets will significantly enhance our FX strategy research,” added Gregg Chow, Managing Director and Head of Foreign Exchange Distribution, Americas.

Mr. Young joins Barclays Capital from Platinum Grove Asset Management where he was a Principal and served as the Foreign Exchange Portfolio Manager and Chief Economist. Prior to that, he was the Global Head of Foreign Exchange Research at Citigroup, based in New York. He also spent several years in Tokyo as the Chief Economist of Japan at Nikko Citigroup.

Barclays Capital has continued to expand its Foreign Exchange business over the last year. Mr. Young’s appointment follows several recent hires to the firm’s FX team in the Americas. In New York, Mike Testa joined as Head of Real Money FX Sales, Americas, and Marlena Demenus joined FX Sales covering banks and Commodity Trading Advisors. David Greenwald joined FX Sales in San Francisco covering the West Coast and Kevin Tam joined FX Sales in Toronto covering institutional accounts.

As a trusted and strategic partner, Barclays Capital is committed to providing clients with a comprehensive suite of innovative foreign exchange products, customized solutions, insightful research and deep liquidity. BARX, the firm’s electronic trading platform, offers clients a full suite of online FX execution capabilities. In January 2010, Risk magazine named Barclays Capital “Currency Derivatives House of the Year.” The firm ranked in the top three for the third year in a row in Euromoney magazine's FX client poll and was named “Best FX House in North America” for two consecutive years in Euromoney's 2010 Awards for Excellence.

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs over 25,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide. For further information about Barclays Capital, please visit our website www.barclayscapital.com.