FOR IMMEDIATE RELEASE                                                                          23 July 2012

Commenting on Sir Mike Rake’s withdrawal from the selection process to replace Marcus Agius as Barclays chairman, Sir Stelios Haji-Ioannou, easyJet founder and largest shareholder said:

“This statement should have been made three weeks ago. Mike Rake has strung along his board, shareholders and employees while plotting to take the top job at Barclays. The fact that this has taken so long shows Rake has no loyalty to or respect for our company. It is a disgraceful way to behave as he should have resigned from easyJet immediately once he indicated an interest in replacing Marcus Agius.

“It is now clear that even the City club of regulators and fund managers have given him the thumbs down. And ShareSoc have led the way in pointing out his shortcomings to shareholders.

“If he’s not good enough for Barclays then he’s certainly not good enough for easyJet.

“Our message going into next month’s EGM is clear – We don’t want any Barclays cast-offs!”

ENDS