NEW YORK, NY -- (MARKET WIRE) -- 06/26/08 -- Barclays Bank PLC announced today the launchof the iPath® Global Carbon Exchange Traded Note (ETN) on the NYSE Arcastock exchange. It is the first iPath® ETN to offer investors exposure tothe global price of carbon. Barclays, a leading intermediary in theenvironmental markets, is launching this investment vehicle to meet theneeds of investors' growing appetite for exposure to Greenhouse Gas prices.This new iPath® ETN is linked to the Barclays Capital Global Carbon IndexTotal Return(TM). The index tracks the performance of the most liquidcarbon credits associated with the world's major greenhouse gas emissionstrading plans and is designed to be a global industry benchmark forcarbon-related investing. Currently, the index includes two plans: EuropeanUnion Emissions Trading Scheme and the Kyoto Protocol's Clean DevelopmentMechanism. Eligible plans are selected from the growing universe oftradable carbon credits and are regularly reviewed for inclusion.
"The global carbon arena has the potential to become one of the world'slargest commodities markets and we are pleased to offer investors exposureto this growing market," said Philippe El-Asmar, Head of Solution Sales,Americas at Barclays Capital. "The launch of this product underscores theimportance of our environmental markets business and providing clients withaccess to harder-to-reach markets."
The firm also launched ten new iPath® ETNs designed to offer exposure tosub-indices of the Dow Jones-AIG Commodity Index Total Return(SM). Theyare linked to aluminum, cocoa, coffee, cotton, lead, platinum, preciousmetals, softs*, sugar and tin.
The new iPath® ETNs have a 30-year maturity and are senior, unsecured,unsubordinated debt securities issued by Barclays Bank PLC linked to theperformance of a market index. iPath® ETNs, which investors can trade onan exchange at market prices, are designed to provide investors withconvenient access to the returns of market benchmarks, less investor fees.
Several Barclays divisions worked together to create this success. BarclaysBank PLC is the issuer, Barclays Capital Inc. is the issuer's agent, andBarclays Global Investors Services is the promoter of iPath® ETNs tointermediaries.
The pricing supplements can be found on the SEC website at:
iPath® Global Carbon ETN (GRN)http://www.sec.gov/Archives/edgar/data/312070/000119312508139238/d424b3.htmiPath® Dow Jones-AIG Aluminum Total Return Sub-Index(SM) ETN (JJU)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Cocoa Total Return Sub-Index(SM) ETN (NIB)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Coffee Total Return Sub-Index(SM) ETN (JO)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Cotton Total Return Sub-Index(SM) ETN (BAL)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Lead Total Return Sub-Index(SM) ETN (LD)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Platinum Total Return Sub-Index(SM) ETN (PGM)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Precious Metals Total Return Sub-Index(SM) ETN(JJP)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Softs Total Return Sub-Index(SM) ETN (JJS)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Sugar Total Return Sub-Index(SM) ETN (SGG)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htmiPath® Dow Jones-AIG Tin Total Return Sub-Index(SM) ETN (JJT)http://www.sec.gov/Archives/edgar/data/312070/000119312508139235/d424b2.htm
The following link provides further information about the iPath ETNs:http://www.iPathETN.com
Barclays Capital provides data, analytics and support for the BarclaysCapital Global Carbon Index Total Return(TM) index via web-based and othere-commerce protocols. The indices are available on Barclays Capital's indexwebsite (http://www.barcap.com/indices) and Bloomberg.
*Softs include sugar, coffee and cotton.
About Barclays
Barclays PLC is a major global financial services provider engaged inretail and commercial banking, credit cards, investment banking, wealthmanagement and investment management services. It is one of the largestfinancial services companies in the world by market capitalisation. Withover 300 years of history and expertise in banking, Barclays operates inover 50 countries and employs over 135,000 people. Barclays moves, lends,invests and protects money for over 27 million customers and clientsworldwide. For further information about Barclays, please visit our websitewww.barclays.com.
An investment in iPath ETNs involves risks, including possible loss ofprincipal. For a description of the main risks see "Risk Factors" in theapplicable prospectus.
Barclays Bank PLC has filed a registration statement (including aprospectus) with the SEC for the offering to which this communicationrelates. Before you invest, you should read the prospectus and otherdocuments Barclays Bank PLC has filed with the SEC for more completeinformation about the issuer and this offering. You may get thesedocuments for free by visiting www.iPathETN.com or EDGAR on the SEC websiteat www.sec.gov. Alternatively, Barclays Bank PLC will arrange for BarclaysCapital Inc. to send you the prospectus if you request it by callingtoll-free 1-877-76-iPATH, or you may request a copy from any other dealerparticipating in the offering.
Barclays Global Investors Services, a subsidiary of Barclays GlobalInvestors, N.A. ("BGINA"), assists in the promotion of the Securities.Barclays Global Investors, N.A. and Barclays Capital Inc. ("BCI") areaffiliates of Barclays Bank PLC.
iPath ETNs (the "Securities") are unsecured obligations of Barclays BankPLC and are not secured debt. The Securities are riskier than ordinaryunsecured debt securities and have no principal protection. Risks ofinvesting in the Securities include limited portfolio diversification,trade price fluctuations, uncertain principal repayment, and illiquidity.Investing in the Securities is not equivalent to direct investment in indexor index components. The investor fee will reduce the amount of yourreturn at maturity or on redemption, and as a result you may receive lessthan the principal amount of your investment at maturity or upon redemptionof your Securities even if the value of the relevant index has increased.An investment in iPath ETNs may not be suitable for all investors.
The Securities may be sold throughout the day on the exchange through anybrokerage account. There are restrictions on the minimum number ofSecurities you may redeem directly with the issuer as specified in theapplicable prospectus. Commissions may apply and there are tax consequencesin the event of sale, redemption or maturity of Securities. Sales in thesecondary market may result in significant losses.
The index components for iPath ETNs linked to commodities indexes areconcentrated in the commodities sector. The market value of the Securitiesmay be influenced by many unpredictable factors, including, whereapplicable, highly volatile commodities prices, changes in supply anddemand relationships; weather; agriculture; trade; pestilence; changes ininterest rates; and monetary and other governmental policies, action andinaction. Index components that track the performance of a singlecommodity, or index components concentrated in a single sector, arespeculative and may typically exhibit higher volatility. The current or"spot" prices of the underlying physical commodities may also affect, in avolatile and inconsistent manner, the prices of futures contracts inrespect of the relevant commodity. These factors may affect the value ofthe index and the value of your Securities in varying ways.
An investment in iPath ETNs linked to the performance of the BarclaysCapital Global Carbon Index Total Return(TM) is subject to risks associatedwith fluctuations, particularly a decline, in the performance of the indexcaused by unpredictable volatility and movement in the prices of the indexcomponents. Trading in futures contracts on carbon emissions commodities,including trading in the index components, is speculative and can beextremely volatile. The commodity futures markets are subject to temporarydistortions or other disruptions due to various factors, including the lackof liquidity in the markets, the participation of speculators andgovernment regulation and intervention. Market prices of the indexcomponents may fluctuate rapidly based on numerous factors including butnot limited to changes in supply and demand, domestic and foreign politicalor government actions and technological developments. These factors couldadversely affect the value of the Index and, therefore, the value of yourSecurities.
"Dow Jones®", "AIG®", "Dow Jones-AIG Commodity Index(SM)","DJ-AIGCI(SM)", "Dow Jones-AIG Commodity Index Total Return(SM)", "DowJones-AIG Aluminum Total Return Sub-Index(SM)", "Dow Jones-AIG Cocoa TotalReturn Sub-Index(SM)", "Dow Jones-AIG Coffee Total Return Sub-Index(SM)","Dow Jones-AIG Cotton Total Return Sub-Index(SM)", "Dow Jones-AIG LeadTotal Return Sub-Index(SM)", "Dow Jones-AIG Platinum Total ReturnSub-Index(SM)", "Dow Jones-AIG Precious Metals Total Return Sub-Index(SM)","Dow Jones-AIG Softs Total Return Sub-Index(SM)", "Dow Jones-AIG SugarTotal ReturnSub-Index(SM)" and "Dow Jones-AIG Tin Total Return Sub-Index(SM)" areregistered trademarks or servicemarks of Dow Jones & Company, Inc. ("DowJones"), and American International Group, Inc. ("AIG"), as the case maybe, and have been licensed for use for certain purposes by Barclays BankPLC for the Securities. The Securities based on the Dow Jones-AIGCommodity Index Total Return(SM) are not sponsored, endorsed, sold orpromoted by Dow Jones, AIG Financial Products Corp. ("AIG-FP"), AIG, or anyof their respective subsidiaries or affiliates and none of Dow Jones,AIG-FP, AIG, or any of their respective subsidiaries or affiliates makesany representation regarding the advisability of investing in suchSecurities.
"Barclays Capital Global Carbon Index(TM)" and "Barclays Capital GlobalCarbon Index Total Return(TM)" are trademarks of Barclays Bank PLC and havebeen licensed for use by Barclays Capital in connection with thecalculation of the Index.
© 2008 BGINA. All rights reserved. iPath, iPath ETNs and the iPath logoare registered trademarks of Barclays Bank PLC. All other trademarks,servicemarks or registered trademarks are the property, and used with thepermission, of their respective owners. 7299-iP-0608
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