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               12 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       9,369,261     4.53%        114,979     0.06%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       22,783     0.01%         10,678     0.01%
agreements to
purchase/sell
Total              9,395,844     4.54%        125,657     0.06%

(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      791                  6.0300 USD
Purchase      108                  6.0300 USD
Purchase      11,523               6.0823 USD
Purchase      16,200               6.1100 USD
Purchase      339                  6.0300 USD
Purchase      3,800                6.0823 USD
Purchase      100                  6.0500
Purchase      200                  6.0350
Purchase      4,804                6.0823 USD
Purchase      18,000               7.1644
Purchase      1,062                6.1632 USD
Purchase      21,600               6.7940
Purchase      1,356                6.0300 USD
Purchase      226                  6.0300 USD
Purchase      330                  6.0300 USD
Purchase      5,800                6.1530
Purchase      57,700               30.0000
Purchase      48,730               6.2156
Purchase      5,296                6.0359
Purchase      2,500                6.0792
Purchase      8,089                6.2458 USD
Purchase      162                  6.0300 USD
Purchase      762                  6.0300 USD
Purchase      1,530                6.0300 USD
Purchase      1,452                6.0300 USD
Purchase      12,321               6.1632 USD
Purchase      3,934                6.2458 USD
Purchase      968                  6.2458 USD
Purchase      3,563                6.0823 USD
Purchase      9,641                6.2458 USD
Purchase      100                  6.0300
Purchase      50,100               6.2311 USD
Purchase      89,283               6.0823 USD
Purchase      17,110               6.1632 USD
Purchase      847                  6.2458 USD
Purchase      8,891                6.0823 USD
Purchase      12,521               6.0823 USD
Purchase      69,384               6.2266 USD
Purchase      986                  6.1632 USD
Purchase      4,000                6.1632 USD
Purchase      200                  6.0325
Purchase      1,500                6.4920
Purchase      2,900                6.1300
Purchase      300                  6.5000
Purchase      3,200                6.2838
Purchase      1,100                6.4927
Purchase      400                  6.4900
Purchase      100                  6.4700
Purchase      13,563               6.1285
Purchase      200                  6.0263
Purchase      18,000               7.1644 USD
Purchase      17,887               6.0454
Purchase      19,000               6.7940
Purchase      1,161                6.0619
Purchase      1                    6.0300
Purchase      104,114              6.6470
Purchase      3,626                6.3173
Purchase      700                  40.0000
Purchase      300                  5.9633
Purchase      19,669               6.2458 USD
Purchase      78,983               6.2298
Purchase      67,428               6.3320
Purchase      4,200                6.0289
Purchase      13,900               6.1984
Purchase      5,121                6.1636
Purchase      600                  6.4267
Purchase      500                  6.4970
Purchase      770                  6.0300 USD
Purchase      77,031               5.9400
Purchase      5,316                6.2458 USD
Purchase      29,500               6.2311 USD
Purchase      329                  6.2397
Purchase      300                  6.2533
Purchase      600                  6.1667
Purchase      19,983               6.2300
Purchase      13,983               6.2458 USD
Purchase      495                  6.0300 USD
Sale          2,963                6.0150
Sale          7,900                7.0586 USD
Sale          800                  6.4500
Sale          7,900                7.0586
Sale          600                  6.4800
Sale          1,161                6.0620
Sale          1                    6.0300
Sale          104,114              6.6470
Sale          21,600               6.7940
Sale          2,950                6.0300
Sale          19,983               6.2300
Sale          104,114              6.6470
Sale          7,900                6.1145
Sale          900                  6.4922
Sale          238                  6.0300 USD
Sale          369                  6.4892
Sale          3,000                6.0703
Sale          3,626                6.3173
Sale          5,121                6.1636
Sale          1,300                6.0232
Sale          200                  6.0150
Sale          7,024                6.0252
Sale          9,200                6.0300 USD
Sale          49,253               6.0300

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         1200          6.1888

(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          1                  30        AMER            22/01/2011 10.5
Call            Purchase          1                  45        AMER            16/01/2010 5.2
Call            Purchase          4                  45        AMER            22/11/2008 1.05
Call            Purchase          5                  40        AMER            17/01/2009 2.63
Call            Purchase          42                 45        AMER            22/11/2008 2.5
Call            Selling           1                  35        AMER            22/11/2008 5.65
Call            Selling           1                  35        AMER            22/11/2008 7.45
Call            Selling           1                  45        AMER            20/12/2008 0.3
Call            Selling           1                  50        AMER            22/11/2008 0.1
Call            Selling           1                  90        AMER            16/01/2010 0.85
Call            Selling           4                  30        AMER            22/11/2008 5.5
Call            Selling           5                  35        AMER            17/01/2009 4.38
Call            Selling           6                  40        AMER            22/11/2008 0.4
Call            Selling           8                  35        AMER            20/12/2008 3.5
Put             Purchase          1                  30        AMER            17/01/2009 3.3
Put             Purchase          1                  35        AMER            17/01/2009 1.55
Put             Purchase          1                  35        AMER            16/01/2010 5.9
Put             Purchase          1                  37.5      AMER            22/11/2008 4.5
Put             Purchase          1                  40        AMER            16/05/2009 5.9
Put             Purchase          1                  40        AMER            16/05/2009 6.9
Put             Purchase          3                  30        AMER            16/01/2010 7.2
Put             Purchase          3                  50        AMER            17/01/2009 16.3
Put             Purchase          7                  40        AMER            16/05/2009 0.00001
Put             Purchase          7                  60        AMER            16/05/2009 28.5
Put             Purchase          10                 32.5      AMER            17/01/2009 4.7
Put             Purchase          10                 60        AMER            16/05/2009 28.5
Put             Purchase          18                 40        AMER            21/02/2009 4.15
Put             Purchase          28                 35        AMER            22/11/2008 2.67
Put             Purchase          50                 80        AMER            17/01/2009 1.15
Put             Purchase          96                 35        AMER            22/11/2008 2.61
Put             Selling           1                  35        AMER            22/11/2008 1.55
Put             Selling           1                  40        AMER            22/01/2011 16.8
Put             Selling           2                  20        AMER            20/12/2008 0.45
Put             Selling           3                  25        AMER            22/11/2008 0.25
Put             Selling           3                  40        AMER            21/02/2009 12.05
Put             Selling           4                  25        AMER            22/11/2008 0.25
Put             Selling           4                  30        AMER            20/12/2008 2.6
Put             Selling           4                  35        AMER            22/11/2008 2.65
Put             Selling           5                  25        AMER            20/12/2008 1.2
Put             Selling           7                  35        AMER            21/02/2009 7.3
Put             Selling           10                 20        AMER            20/12/2008 0.4
Put             Selling           10                 35        AMER            21/02/2009 7.3
Put             Selling           20                 35        AMER            20/12/2008 35

(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   -10                    15.0000 AMER 16/05/2009
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   -19                    7.5000 AMER 21/02/2009
Option            Purchased   -15                    25.0000 AMER 16/05/2009
Option            Purchased   -15                    7.5000 AMER 22/11/2008
Option            Purchased   -13                    10.0000 AMER 16/05/2009
Option            Purchased   -12                    10.0000 AMER 21/02/2009
Option            Purchased   1                      15.0000 AMER 20/12/2008
Option            Purchased   -11                    7.5000 AMER 16/05/2009
Option            Purchased   -33                    40.0000 AMER 22/11/2008
Option            Purchased   -10                    40.0000 AMER 21/02/2009
Option            Purchased   -4                     12.5000 AMER 16/05/2009
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                     17.5000 AMER 16/05/2009
Option            Purchased   -2                     20.0000 AMER 16/05/2009
Option            Purchased   -2                     5.0000 AMER 16/05/2009
Option            Purchased   -6,625                 30.0000 AMER 22/11/2008
Option            Purchased   -11                    22.5000 AMER 21/02/2009
Option            Purchased   -118                   40.0000 AMER 22/11/2008
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   -211                   20.0000 AMER 22/11/2008
Option            Purchased   -197                   7.5000 AMER 22/11/2008
Option            Purchased   -187                   30.0000 AMER 21/02/2009
Option            Purchased   -156                   15.0000 AMER 22/11/2008
Option            Purchased   -25                    30.0000 AMER 16/05/2009
Option            Purchased   -128                   10.0000 AMER 20/12/2008
Option            Purchased   -25                    17.5000 AMER 22/11/2008
Option            Purchased   -107                   17.5000 AMER 22/11/2008
Option            Purchased   -102                   12.5000 AMER 22/11/2008
Option            Purchased   -97                    15.0000 AMER 22/11/2008
Option            Purchased   -77                    5.0000 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   -39                    30.0000 AMER 22/11/2008
Option            Purchased   4                      40.0000 AMER 21/02/2009
Option            Purchased   -143                   5.0000 AMER 21/02/2009
Option            Purchased   612                    12.5000 AMER 21/02/2009
Option            Purchased   144                    20.0000 AMER 21/02/2009
Option            Purchased   163                    15.0000 AMER 20/12/2008
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   363                    10.0000 AMER 22/11/2008
Option            Purchased   436                    7.5000 AMER 21/02/2009
Option            Purchased   -1                     17.5000 AMER 16/05/2009
Option            Purchased   562                    12.5000 AMER 21/02/2009
Option            Purchased   103                    20.0000 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   3,435                  12.5000 AMER 22/11/2008
Option            Purchased   448                    15.0000 AMER 21/02/2009
Option            Purchased   22                     20.0000 AMER 16/05/2009
Option            Purchased   5                      12.5000 AMER 20/12/2008
Option            Purchased   5                      2.5000 AMER 21/02/2009
Option            Purchased   5                      30.0000 AMER 16/05/2009
Option            Purchased   5                      45.0000 AMER 22/11/2008
Option            Purchased   6                      10.0000 AMER 16/05/2009
Option            Purchased   7                      15.0000 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                     5.0000 AMER 16/05/2009
Option            Purchased   132                    25.0000 AMER 21/02/2009
Option            Purchased   10                     7.5000 AMER 16/05/2009
Option            Purchased   119                    25.0000 AMER 21/02/2009
Option            Purchased   25                     10.0000 AMER 21/02/2009
Option            Purchased   28                     15.0000 AMER 21/02/2009
Option            Purchased   29                     30.0000 AMER 21/02/2009
Option            Purchased   47                     10.0000 AMER 22/11/2008
Option            Purchased   49                     35.0000 AMER 21/02/2009
Option            Purchased   57                     22.5000 AMER 21/02/2009
Option            Purchased   58                     12.5000 AMER 22/11/2008
Option            Purchased   79                     35.0000 AMER 22/11/2008
Option            Purchased   6,252                  20.0000 AMER 22/11/2008
Option            Purchased   10                     5.0000 AMER 22/11/2008

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