Barclays Signs $397M Contract for BT's IP Network

LONDON (03/29/2000) - British Telecommunications PLC (BT) today announced that it has signed a five-year contract worth 250 million pounds (US$397 million) to provide U.K.-based Barclays PLC with an IP (Internet protocol) network.

The network will make it possible for Internet data to flow from all 3,000 U.K. branches, bringing the bank closer to its ultimate goal of a single Internet-enabled platform. BT believes that it can bring Barclays' multiple networks into a single company-wide IP structure over the next 21 months, it said in the statement.

BT will also supply the bank with e-commerce technology, bringing mobile telephony access to customers over WAP (Wireless Application Protocol), the Internet, cash machines and digital TV. Barclays will also be able to participate in trials of new BT services, such as voice over IP.

The agreement also means that Barclays will be outsourcing the operation of the existing U.K. and international data structure to BT Syncordia Solutions, according to BT.

BT, in London, can be reached at +44-207-356-5000 or at http://www.bt.com/.

Barclays Bank, in London, can be found on the Web at +44-171-699-5000, or on the Web at http://www.barclays.com/.

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