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Exhibit 7.1

BARCLAYS PLC

RATIO OF EARNINGS UNDER UK GAAP TO FIXED CHARGES

	Year ended 31st December
	2002	Restated 2001	Restated 2000	Restated 1999	Restated 1998
	(£ millions except for ratios)
Fixed Charges
Total Interest excluding interest on trading liabilities and interest on deposits	2,045	2,669	1,896	1,419	1,497
Interests on trading liabilities	4,297	5,824	5,024	3,686	3,834
One third of rental expense	87	95	74	102	97
Total fixed charges excluding interest on deposits	6,429	8,588	6,994	5,207	5,428
Interests on deposits and current accounts	3,811	4,818	4,778	3,271	4,103
Total fixed charges including interests on deposits	10,240	13,406	11,772	8,478	9,531
EARNINGS
Income before taxes and minority interests (a)	3,205	3,425	3,392	2,478	1,910
Fixed charges excluding interest on deposits	6,429	8,588	6,994	5,207	5,428
	9,634	12,013	10,386	7,685	7,338
Less
Unremitted pre-tax loss/(income) of associated companies and joint ventures	11	13	14	21	(18	)
Total earnings excluding interest on deposits	9,645	12,026	10,400	7,706	7,320
Interest on deposits and current accounts	3,811	4,818	4,778	3,271	4,103
Total earnings including interest on deposits	13,456	16,844	15,178	10,977	11,423
RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits	1.50	1.40	1.49	1.48	1.35
Including interest on deposits	1.31	1.26	1.29	1.29	1.20

a)

The income before taxes and minority interests, in 2002, for Barclays Bank PLC is £2 million lower than Barclays PLC (2001: £2 million, 1998–2000: £nil).

There is no impact on the above ratios as a result of this difference.

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Exhibit 7.1

BARCLAYS PLC RATIO OF EARNINGS UNDER UK GAAP TO FIXED CHARGES