Rule 8.3 - AMERICAN CAP LTD

FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
              (Rule 8.3 of the City Code on Takeovers and Mergers)


1.   KEY INFORMATION

Name of person dealing        BARCLAYS PLC
(Note 1)
Company dealt in              AMERICAN CAP LTD
Class of relevant security    COM USD0.01
to which the dealings being
disclosed relate (Note 2)
Date of dealing               11 November 2008

2.   INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)  Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

                            Long                     Short

                      Number       (%)         Number       (%)

(1) Relevant       8,708,409     4.21%         62,033     0.03%
securities
(2) Derivatives        5,000     0.00%
(other than
options)
(3) Options and       19,694     0.01%         11,205     0.01%
agreements to
purchase/sell
Total              8,733,103     4.22%         73,238     0.04%

(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of                    Long                     Short
relevant
security:

                  Number              (%)   Number              (%)

(1) Relevant
securities

(2) Derivatives
(other than
options)

(3) Options and
agreements to
purchase/sell

Total


  (c)  Rights to subscribe (Note 3)

Class of relevant security:   Details



3.   DEALINGS (Note 4)

  (a)  Purchases and sales

Purchase/sale Number of Securities Price per unit
                                   (GBP)
Purchase      200                  7.1250
Purchase      476                  6.7500 USD
Purchase      723,900              30.0000
Purchase      54                   6.7500 USD
Purchase      565                  6.7500 USD
Purchase      880                  6.7500 USD
Purchase      275                  6.7500 USD
Purchase      110                  6.7500 USD
Purchase      385                  6.7500 USD
Purchase      18,200               7.1430 USD
Purchase      29,500               7.1481 USD
Purchase      2,380                6.7500 USD
Purchase      100                  7.3000
Purchase      162                  6.7500 USD
Purchase      200                  7.1550
Purchase      1,800                7.2956
Purchase      5,581                7.0983
Purchase      11,074               6.9763
Purchase      500                  7.1148
Purchase      18,780               7.0696
Purchase      900                  7.0600
Purchase      38,864               7.0423
Purchase      10,032               7.1403
Purchase      3,000                7.0297
Purchase      2,100                7.2057
Purchase      21,600               6.7940
Purchase      13,582               7.1549 USD
Purchase      2,800                7.2005
Purchase      1,913                7.2836
Purchase      4,800                30.0000
Purchase      118                  6.7500 USD
Purchase      1,539                7.8700 USD
Purchase      226                  6.7500 USD
Purchase      1,400                7.1549 USD
Purchase      242                  6.7500 USD
Purchase      40,400               7.1549 USD
Purchase      4,226                7.1549 USD
Purchase      20,390               7.1549 USD
Purchase      100,641              7.1549 USD
Purchase      1,114                7.1494 USD
Purchase      2,325                6.9973 USD
Purchase      45,000               7.1481 USD
Purchase      16,690               6.9973 USD
Purchase      47,215               7.1549 USD
Purchase      13,458               7.1549 USD
Purchase      46,300               7.1430 USD
Purchase      2,656                7.1494 USD
Purchase      23,944               7.1549 USD
Sale          5,581                7.0983
Sale          600                  7.3783
Sale          600                  7.3800
Sale          2,413                6.7500 USD
Sale          3,200                7.2068
Sale          500                  7.0400
Sale          21,600               6.7940
Sale          200                  7.2850
Sale          357                  6.7500 USD
Sale          1,913                7.2836
Sale          800                  6.9138
Sale          500                  7.0560
Sale          177                  7.4264
Sale          3,500                7.0533
Sale          19,000               6.7940
Sale          9,900                9.9928 USD
Sale          5,500                7.0902

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)

(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Product name,   Writing,          Number of          Exercise  Type, e.g.      Expiry   Option money
e.g. call       selling,          securities to      price     American,       date     paid/received
option          purchasing,       which the option             European etc.            per unit (GBP)
                varying etc.      relates (GBP)
Call            Purchase          5                  7.5       AMER            22/11/2008 1.22300
Call            Purchase          15                 10        AMER            22/11/2008 0.25000
Call            Purchase          16                 10        AMER            22/11/2008 0.25000
Call            Selling           1                  15        AMER            16/05/2009 0.85000
Call            Selling           1                  30        AMER            21/02/2009 0.10000
Call            Selling           1                  30        AMER            16/05/2009 0.15000
Call            Selling           2                  35        AMER            16/05/2009 11.99000
Call            Selling           3                  15        AMER            22/11/2008 0.10000
Call            Selling           4                  10        AMER            20/12/2008 1.05000
Call            Selling           5                  10        AMER            21/02/2009 1.22300
Call            Selling           10                 10        AMER            16/05/2009 0.30000
Call            Selling           10                 15        AMER            22/11/2008 0.10000
Put             Purchase          2                  10        AMER            21/02/2009 4.27000
Put             Purchase          2                  30        AMER            16/05/2009 22.90000
Put             Purchase          3                  30        AMER            16/05/2009 22.60000
Put             Purchase          48                 30        AMER            22/11/2008 0.00001
Put             Purchase          7239               30        AMER            22/11/2008 0.00001
Put             Selling           1                  12.5      AMER            21/02/2009 4.47500
Put             Selling           2                  7.5       AMER            21/02/2009 2.42000
Put             Selling           4                  12.5      AMER            21/02/2009 8.68800
Put             Selling           30                 12.5      AMER            21/02/2009 1.87500
Put             Selling           56                 7.5       AMER            22/11/2008 0.48000
(ii) Exercising

Product name, e.g.  Number of           Exercise price per
call option         securities          unit (Note 5)




(d)  Other dealings (including new securities) (Note 4)


Nature of transaction Details           Price per unit
(Note 8)                                (if applicable)
                                        (Note 5)




4.   OTHER INFORMATION
None

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.




Is a Supplemental Form 8 attached? (Note 9)                 YES


Date of disclosure                         13 November 2008
Contact name                               Geoff Smith
Telephone number                           020 7116 2913
If a connected EFM, name of
offeree/offeror with which connected
If a connected EFM, state nature of
connection (Note 10)


Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk

SUPPLEMENTAL FORM 8

DETAILS OF OPEN POSITIONS
(This form should be attached to Form 8.1, Form 8.1(b)(ii) or Form 8.3, as appropriate)


Product name,     Written or  Number of securities   Exercise price   Type, e.g.     Expiry date
e.g. call option  purchased   to which the option    (Note 2)         American,
                              or derivative relates                   European etc.
Option            Purchased   -11                    7.5000           AMER           16/05/2009
Option            Purchased   -7,202                 30.0000          AMER           22/11/2008
Option            Purchased   -23                    35.0000          AMER           22/11/2008
Option            Purchased   -23                    7.5000           AMER           21/02/2009
Option            Purchased   -20                    12.5000          AMER           20/12/2008
Option            Purchased   -20                    7.5000           AMER           22/11/2008
Option            Purchased   -19                    7.5000           AMER           21/02/2009
Option            Purchased   -15                    25.0000          AMER           16/05/2009
Option            Purchased   -12                    15.0000          AMER           16/05/2009
Option            Purchased   -25                    17.5000          AMER           22/11/2008
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -39                    30.0000          AMER           22/11/2008
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -5                     10.0000          AMER           21/02/2009
Option            Purchased   -4                     15.0000          AMER           21/02/2009
Option            Purchased   -4                     17.5000          AMER           20/12/2008
Option            Purchased   -3                     7.5000           AMER           20/12/2008
Option            Purchased   -2                     5.0000           AMER           16/05/2009
Option            Purchased   1                      15.0000          AMER           20/12/2008
Option            Purchased   4                      40.0000          AMER           21/02/2009
Option            Purchased   -11                    10.0000          AMER           16/05/2009
Option            Purchased   -131                   10.0000          AMER           20/12/2008
Option            Purchased   -715                   12.5000          AMER           22/11/2008
Option            Purchased   -445                   30.0000          AMER           22/11/2008
Option            Purchased   -302                   15.0000          AMER           22/11/2008
Option            Purchased   -300                   22.5000          AMER           22/11/2008
Option            Purchased   -277                   17.5000          AMER           21/02/2009
Option            Purchased   -235                   7.5000           AMER           22/11/2008
Option            Purchased   -211                   20.0000          AMER           22/11/2008
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -143                   5.0000           AMER           21/02/2009
Option            Purchased   5                      30.0000          AMER           16/05/2009
Option            Purchased   -118                   40.0000          AMER           22/11/2008
Option            Purchased   -107                   17.5000          AMER           22/11/2008
Option            Purchased   -100                   12.5000          AMER           22/11/2008
Option            Purchased   -87                    15.0000          AMER           22/11/2008
Option            Purchased   -59                    10.0000          AMER           22/11/2008
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -50                    25.0000          AMER           22/11/2008
Option            Purchased   -40                    40.0000          AMER           22/11/2008
Option            Purchased   -157                   15.0000          AMER           22/11/2008
Option            Purchased   612                    12.5000          AMER           21/02/2009
Option            Purchased   192                    25.0000          AMER           22/11/2008
Option            Purchased   296                    15.0000          AMER           22/11/2008
Option            Purchased   314                    20.0000          AMER           22/11/2008
Option            Purchased   319                    7.5000           AMER           22/11/2008
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   335                    12.5000          AMER           22/11/2008
Option            Purchased   363                    10.0000          AMER           22/11/2008
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   562                    12.5000          AMER           21/02/2009
Option            Purchased   132                    25.0000          AMER           21/02/2009
Option            Purchased   628                    10.0000          AMER           21/02/2009
Option            Purchased   695                    22.5000          AMER           22/11/2008
Option            Purchased   732                    35.0000          AMER           22/11/2008
Option            Purchased   914                    25.0000          AMER           22/11/2008
Option            Purchased   1,000                  17.5000          AMER           22/11/2008
Option            Purchased   1,100                  25.0000          AMER           21/02/2009
Option            Purchased   1,426                  22.5000          AMER           22/11/2008
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   28                     15.0000          AMER           21/02/2009
Option            Purchased   6,252                  20.0000          AMER           22/11/2008
Option            Purchased   5                      45.0000          AMER           22/11/2008
Option            Purchased   6                      10.0000          AMER           16/05/2009
Option            Purchased   7                      45.0000          AMER           22/11/2008
Option            Purchased   9                      17.5000          AMER           21/02/2009
Option            Purchased   10                     15.0000          AMER           16/05/2009
Option            Purchased   10                     5.0000           AMER           16/05/2009
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   163                    15.0000          AMER           20/12/2008
Option            Purchased   25                     10.0000          AMER           21/02/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   32                     30.0000          AMER           21/02/2009
Option            Purchased   47                     10.0000          AMER           22/11/2008
Option            Purchased   50                     35.0000          AMER           21/02/2009
Option            Purchased   57                     22.5000          AMER           21/02/2009
Option            Purchased   71                     12.5000          AMER           22/11/2008
Option            Purchased   79                     35.0000          AMER           22/11/2008
Option            Purchased   103                    20.0000          AMER           21/02/2009
Option            Purchased   120                    25.0000          AMER           21/02/2009
Option            Purchased   5                      2.5000           AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009

Notes

1. Where there are open option positions or open derivative positions (except for CFDs), full details should be given.
Full details of any  existing agreements to purchase or to sell  should also be given on this form.

2. For all prices and other monetary amounts, the currency must be stated.

For details of the Code's dealing disclosure requirements, see Rule 8 and its Notes which can be viewed on the Takeover
Panel's website at www.thetakeoverpanel.org.uk