No Land Grab

NEW YORK, Jan. 18 /PRNewswire/ -- Barclays, a leading global financial services company, and the Nets, of the National Basketball Association, today announced a multi-faceted strategic marketing partnership that includes the 20-year naming rights to the Barclays Center, the planned centerpiece of the Atlantic Yards development in Brooklyn. This will be the planned new world-class home of the Nets. The Barclays Center will feature a state-of-the-art sports and entertainment arena, designed by Frank Gehry, which will seat up to 20,000 people.

"Barclays is thrilled to partner with the Nets in this exciting endeavor. We are delighted to put our name to a development that will be a visual and economic landmark in the renaissance of Brooklyn," said Robert E. Diamond, Jr., President, Barclays PLC. "This opportunity brings together economic prosperity for Brooklyn and the chance to participate, in a unique way, in the cultural and sporting life of New York."

In addition to the agreement, Barclays has also agreed to partner with the Nets in the Nets-Barclays Sports Alliance, a non-profit organization whose goal is to promote athletics, education and personal development among young people in Brooklyn. The alliance will, as its first objective, repair and renovate basketball courts and other sports facilities throughout the borough, as well as sponsor amateur athletic tournaments and clinics for Brooklyn's youth.

This initiative mirrors the Barclays Spaces for Sports program in the UK, which helps local communities transform neglected land into the sporting facilities they want -- from skateboard parks to soccer fields or multi-use game areas. So far Barclays has opened more than 100 community sports sites across the UK.

"We are very proud to be a partner with Barclays, a prestigious company that exemplifies and shares our commitment to excellence, leadership and success," said Bruce Ratner, President and CEO of FCRC and Chairman of the Nets. "We believe this partnership marks an important moment in Brooklyn's history and its place on the international stage. With this essential investment in Atlantic Yards and the borough, we are now one step closer to our goal of bringing thousands of jobs, mixed-income housing, and, of course, a world-class arena and franchise to Brooklyn."

"We are excited that one of the most respected global financial services companies has chosen to partner with an NBA team to demonstrate its commitment to the United States market as well as its desire to make a difference in the communities where it operates," said NBA Commissioner David Stern.

"This partnership is a defining moment for the Nets business and brand," said Brett Yormark, President & CEO of Nets Sports and Entertainment. "It truly strengthens our position as a leading sports and entertainment franchise. We could not be more pleased than to have a partner as distinguished and well-respected as Barclays."

Brooklyn is the most populous borough of NYC and the Barclays Center will provide retail establishments and commercial offices in the area. It will also serve as a venue for arts and other athletic events. The Barclays Center is expected to include an 850,000 square foot world-class arena, which is scheduled to open for the 2009-2010 NBA Season. The arena expects to host more than 200 events annually, many of them family-oriented. The new partnership covers 20 years from the Nets' first season in their new arena, slated for 2009.

Barclays has been in the US for more than a century. Barclays Capital is one of the world's fastest-growing investment banks, focused on risk management and financing and has US headquarters in New York City. Barclays Global Investors, the world's largest asset management business, has its global headquarters in San Francisco, and Barclaycard, the credit card business, has its US headquarters in Wilmington, DE.

Sports are a significant part of the Barclays worldwide sponsorship portfolio, which includes The Barclays, the PGA TOUR event at the Westchester Country Club scheduled for August 20-26 this year. In addition, Barclays sponsors The Barclays Scottish Open golf tournament at Loch Lomond, the Barclays Singapore Open golf tournament and the Barclays Premiership, the world's leading soccer league.

About Barclays PLC

Barclays PLC is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services. We are one of the largest financial services companies in the world by market capitalisation. With over 300 years of history and expertise in banking, Barclays operates in over 60 countries and employs around 120,000 people. We move, lend, invest and protect money for over 25 million customers and clients worldwide.

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over US$1.8 trillion. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has the global reach and distribution power to meet the needs of issuers and investors worldwide. Barclays Capital Inc. is a member of the NASD and SIPC.

About Barclays Global Investors

Barclays Global Investors is one of the world's largest asset managers and a leading global provider of investment management products and services. It has over 2,800 institutional clients and over $1.6 trillion of assets under management. It transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1978. BGI is the global product leader in Exchange Traded Funds (iShares) with over 180 funds for institutions and individuals trading in 13 markets. Globally, it has $222 billion of iShares assets under management.

About Barclaycard

Barclaycard has more than 15 million retail customers world wide including more than 3.2 million in the U.S. through affinity programs. Barclaycard US is one of the fastest growing credit card issuers in the U.S. with more than 40 existing card partnerships with some of the most successful companies in the U.S.

For further information please visit: http://www.barclayscenter.com/ http://www.barclays.com/ http://www.barcap.com/ http://www.barclaysglobal.com/ http://www.barclaycardus.com/

Barclays, Barclays Center, Barclays Capital, Barclays Global Investors, iShares and Barclaycard are trademarks of Barclays Bank PLC.

About Forest City Ratner Companies

FCRC is a subsidiary of Forest City Enterprises, Inc., an $8.5 billion NYSE-listed (ticker: FCEA & FCEB) national real estate company. Forest City Enterprises is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States.

About the Nets

The Nets are a member of the National Basketball Association (NBA). The team reached the NBA Finals in 2002 and 2003 and has advanced to the playoffs for five consecutive seasons. The Nets currently play at Continental Airlines Arena in East Rutherford, NJ.

Forward-looking statements (Barclays)

This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and Section 27A of the US Securities Act of 1933, as amended, with respect to certain of Barclays plans and its current goals and expectations relating to its future financial condition and performance. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. Examples of forward- looking statements include, among others, statements regarding Barclays future financial position, income growth, impairment charges, business strategy, projected levels of growth in the banking and financial markets, projected costs, estimates of capital expenditures, and plans and objectives for future operations.

By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, global as well as US economic and business conditions, market related risks such as changes in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, and the impact of competition -- a number of which factors are beyond Barclays control. As a result, Barclays actual future results may differ materially from the plans, goals, and expectations set forth in Barclays forward-looking statements. Any forward-looking statements made by or on behalf of Barclays speak only as of the date they are made. Barclays does not undertake to update forward-looking statements to reflect any changes in Barclays expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, consult any additional disclosures that Barclays has made or may make in documents it has filed or may file with the SEC.

Safe Harbor Language (FCRC)

Statements made in this news release that state the Company or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward- looking statements include, but are not limited to, real estate development and investment risks, economic conditions in the Company's core markets, reliance on major tenants, the impact of terrorist acts, the Company's substantial leverage and the ability to service debt, guarantees under the Company's credit facility, changes in interest rates, continued availability of tax-exempt government financing, the sustainability of substantial operations at the subsidiary level, significant geographic concentration, illiquidity of real estate investments, dependence on rental income from real property, conflicts of interest, competition, potential liability from syndicated properties, effects of uninsured loss, environmental liabilities, partnership risks, litigation risks, risks associated with an investment in a professional sports franchise, and other risk factors as disclosed from time to time in the Company's SEC filings, including, but not limited to, the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2006. Website: http://www.barcap.com/ Website: http://www.barclayscenter.com/ Website: http://www.barclays.com/ Website: http://www.barclaysglobal.com/ Website: http://www.barclaycardus.com/