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               13 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       9,941,517     4.81%         67,998     0.03%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       22,885     0.01%          9,724     0.00%
agreements to
purchase/sell
Total              9,968,202     4.82%         77,722     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      2,938                 6.6900 USD
Purchase      5,610                 6.6900 USD
Purchase      2,277                 13.8399 USD
Purchase      4,461                 6.6900 USD
Purchase      12,40                 5.9635 USD
Purchase      110                   6.6900 USD
Purchase      700                   5.89928571
Purchase      2,640                 6.6900 USD
Purchase      7,900                 5.77935443
Purchase      452                   6.6900 USD
Purchase      452                   6.6900 USD
Purchase      108                   6.6900 USD
Purchase      2,950                 6.03
Purchase      254                   6.6900 USD
Purchase      270                   6.6900 USD
Purchase      275                   6.6900 USD
Purchase      7,400                 6.03381081
Purchase      1,310                 6.38792952
Purchase      2,500                 15
Purchase      2,400                 6.02541667
Purchase      3,600                 5.92222222
Purchase      18,808                6.04526053
Purchase      2,600                 5.90807692
Purchase      1,300                 5.99923077
Purchase      162                   6.6900 USD
Purchase      10,465                6.04645485
Purchase      402                   6.02149254
Purchase      2,090                 6.10351196
Purchase      2,787                 5.9893
Purchase      1,300                 6.08346154
Purchase      500                   5.972
Purchase      2,788                 5.9893
Purchase      14,662                6.51738371
Purchase      300                   6.30416667
Purchase      1,100                 6.21545455
Purchase      3,188                 5.82105071
Purchase      2,807                 6.42004988
Purchase      24,111                6.52634814
Purchase      8,600                 6.40453488
Purchase      3,200                 6.42440625
Purchase      35,935                6.46513037
Purchase      400                   6.375
Purchase      18,263                6.52546022
Purchase      1,243                 6.6900 USD
Purchase      94,200                30
Purchase      726                   6.6900 USD
Purchase      31,800                6.2500 USD
Purchase      9,439                 5.9315 USD
Purchase      29,095                5.9315 USD
Purchase      8,756                 5.9797 USD
Purchase      3,031                 5.9440 USD
Purchase      40,423                5.9315 USD
Purchase      198,167               5.9683 USD
Purchase      1,280                 5.9440 USD
Purchase      2,510                 5.9315 USD
Purchase      2,326                 5.9315 USD
Sale          2,200                 6.09590909
Sale          100                   5.85
Sale          1,063                 5.80188147
Sale          100                   5.649
Sale          100                   6.68
Sale          38,800                6.6402 USD
Sale          2,229                 5.9893
Sale          3,188                 5.82105071
Sale          3,346                 5.9893
Sale          714                   6.6900 USD
Sale          1,310                 6.38792952
Sale          952                   6.6900 USD
Sale          500                   5.68
Sale          600                   5.76666667
Sale          466                   6.6900 USD
Sale          200                   5.855
Sale          4,700                 5.96968085
Sale          5,400                 5.76481481
Sale          447                   6.6900 USD
Sale          1,100                 6.6900 USD

(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          1                  10        AMER            21/02/2009 0.85
Call            Purchase          39                 12        AMER            21/02/2009 0.45
Call            Purchase          60                 12        AMER            21/02/2009 0.50
Call            Selling           1                  15        AMER            21/02/2009 0.35
Call            Selling           3                  10        AMER            16/05/2009 1.30
Call            Selling           19                 17.5      AMER            22/11/2008 0.05
Put             Purchase          1                  10        AMER            22/11/2008 3.70
Put             Purchase          3                  40        AMER            21/02/2009 33.70
Put             Purchase          29                 30        AMER            22/11/2008 1.25
Put             Purchase          942                30        AMER            22/11/2008 0.00
Put             Selling           4                  30        AMER            22/11/2008 1.50
Put             Selling           7                  5         AMER            22/11/2008 0.60

(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                         14 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                    40.0000          AMER           21/02/2009
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   -16                    10.0000          AMER           16/05/2009
Option            Purchased   -15                    25.0000          AMER           16/05/2009
Option            Purchased   -11                    10.0000          AMER           21/02/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   -10                    15.0000          AMER           16/05/2009
Option            Purchased   -33                    40.0000          AMER           22/11/2008
Option            Purchased   -5                     15.0000          AMER           21/02/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
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   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -5,683                 30.0000          AMER           22/11/2008
Option            Purchased   -11                    7.5000           AMER           16/05/2009
Option            Purchased   -126                   17.5000          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   -143                   5.0000           AMER           21/02/2009
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   -118                   40.0000          AMER           22/11/2008
Option            Purchased   -102                   12.5000          AMER           22/11/2008
Option            Purchased   -97                    15.0000          AMER           22/11/2008
Option            Purchased   -84                    5.0000           AMER           22/11/2008
Option            Purchased   -58                    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   5                      2.5000           AMER           21/02/2009
Option            Purchased   -131                   15.0000          AMER           22/11/2008
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                      15.0000          AMER           20/12/2008
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   25                     10.0000          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                      40.0000          AMER           21/02/2009
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   10                     5.0000           AMER           22/11/2008
Option            Purchased   132                    25.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   119                    25.0000          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   99                     12.5000          AMER           21/02/2009
Option            Purchased   6,252                  20.0000          AMER           22/11/2008
Option            Purchased   10                     7.5000           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