News Releases

NEW YORK, NY (February 5, 2007) – Barclays Capital, the investment banking division of Barclays PLC, today announced the appointment of Matt Barrett as a Managing Director and Head of Distressed Debt and Special Situations Investing.

“Matt Barrett is a leader who brings unrivalled experience in the distressed debt markets,” said Grant Kvalheim, Co- President, Barclays Capital, commenting on the appointment. “Matt will significantly upgrade our existing efforts in the distressed debt and special situations space,” he added.

Mr. Barrett was formerly employed (1995-2005) by Oaktree Capital Management, where he was a Managing Director, Head of Analysis and a Portfolio Principal of Oaktree’s Opportunities Funds, one of the largest and most successful global distressed debt/special situations platforms.  During Mr. Barrett’s tenure, over $9 billion in committed capital was successfully invested.  Mr. Barrett was a leader of the group and shared responsibility for directing the activities of the funds.  Prior to Oaktree, he was a Senior Vice President at the TCW Special Credits Funds (the predecessor group to Oaktree’s Opportunities Funds) and again was focused exclusively on the management of distressed debt and special situations investments (1991-1995) as a senior member of the team.   Mr. Barrett will be based in Los Angeles. 

Barclays Capital also announces the appointments of Brian Berman and Holly Kim as Managing Directors, joining Mr. Barrett on the Distressed Debt and Special Situations Investing team.   Mr. Berman and Ms. Kim also join the firm from Oaktree Capital Management where they worked under Mr. Barrett in its distressed debt/special situations group.  Mr. Berman was a Managing Director focused on strategy from 1996-2006.  Ms. Kim was also a Managing Director and served exclusively in the group from 2000-2006.

“Brian and Holly were the most senior members of the analytical team at Oaktree, making impressive contributions to its most successful funds,” said Matt Barrett. “I am extremely gratified by the confidence and excitement they have demonstrated by joining Barclays Capital to help build this platform.”

“The appointments of Barrett, Berman, and Kim affirm Barclays Capital’s commitment to building a powerful global distressed debt and special situations group,” said Kvalheim. “We are looking forward to replicating their prior success at Barclays.”

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 £986 billion (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 offices in 26 countries, employs over 10,500 people and has the global reach 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.

*US $ figure was derived using the US $/£ exchange rate at June 30, 2006 of US$1.85/£1

Contact:
Peter Truell
(212) 412-7576
peter.truell@barclayscapital.com

Tom Vogel
(212) 412 7549
tom.vogel@barclayscapital.com

Kristin Friel
(212) 412-7521
kristin.friel@barclayscapital.com