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               14 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      10,394,090     5.03%         74,098     0.04%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       23,070     0.01%          9,077     0.00%
agreements to
purchase/sell
Total             10,420,960     5.04%         83,175     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      1,020                6.3300 USD
Purchase      4,208                6.0223 USD
Purchase      400                  6.5003
Purchase      4,375                6.5042 USD
Purchase      77,500               30.0000
Purchase      2,894                6.5391 USD
Purchase      5,808                6.5084 USD
Purchase      170,503              6.5011 USD
Purchase      50,179               6.5391 USD
Purchase      15,000               6.5127 USD
Purchase      11,745               6.5391 USD
Purchase      47                   6.3300 USD
Purchase      13,755               6.5084 USD
Purchase      35,969               6.5391 USD
Purchase      5,970                6.3592 USD
Purchase      226                  6.3300 USD
Purchase      200                  6.4700
Purchase      602                  6.4278
Purchase      798                  6.5253
Purchase      24,400               6.5127 USD
Purchase      550                  6.3300 USD
Purchase      968                  6.3300 USD
Purchase      1,356                6.3300 USD
Purchase      1,452                6.3300 USD
Purchase      113                  6.3300 USD
Purchase      594                  6.3300 USD
Purchase      108                  6.3300 USD
Purchase      3,570                6.3300 USD
Purchase      2,540                6.3300 USD
Purchase      700                  6.6900 USD
Purchase      226                  6.3300 USD
Purchase      700                  6.3871
Purchase      3,122                6.5391 USD
Purchase      472                  6.6900 USD
Purchase      200                  6.4200
Purchase      100                  6.3250
Purchase      800                  6.4719
Purchase      10,515               6.6062
Purchase      400                  6.5075
Purchase      5,045                6.6825
Purchase      4,700                6.4498
Purchase      200                  6.4700
Purchase      23,500               6.4118
Purchase      1,800                6.4767
Purchase      1,000                6.6480
Sale          800                  6.3613
Sale          200                  6.5250
Sale          44                   6.3300
Sale          10,515               6.6062
Sale          56                   6.3800
Sale          447                  6.6900 USD
Sale          400                  6.3700
Sale          4,674                6.3300 USD
Sale          300                  6.3733
Sale          5,045                6.6825
Sale          100                  6.3900
Sale          5,500                6.6136
Sale          1,952                6.4205 USD
Sale          700                  6.7657 USD
Sale          1,539                6.4587 USD
Sale          325                  6.4785
Sale          400                  6.3725
Sale          119                  6.3300 USD
Sale          300                  6.4217
Sale          162                  6.3300 USD
Sale          100                  6.4700
Sale          100                  6.4975
Sale          100                  6.3380
Sale          75                   6.4200
Sale          476                  6.3300 USD
Sale          1,428                6.3300 USD
Sale          1,900                6.6211

(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 0.92000
Call            Purchase          3                  10        AMER            22/11/2008 0.05000
Call            Purchase          5                  10        AMER            22/11/2008 0.05000
Call            Purchase          7                  10        AMER            22/11/2008 0.05000
Call            Purchase          10                 10        AMER            22/11/2008 0.05000
Call            Purchase          11                 10        AMER            22/11/2008 0.05000
Call            Purchase          13                 7.5       AMER            22/11/2008 0.30000
Call            Purchase          132                7.5       AMER            22/11/2008 0.30000
Call            Selling           1                  7.5       AMER            22/11/2008 0.02200
Call            Selling           1                  15        AMER            21/02/2009 0.42000
Call            Selling           10                 15        AMER            21/02/2009 0.45000
Put             Purchase          1                  30        AMER            22/11/2008 9.05000
Put             Purchase          18                 30        AMER            22/11/2008 3.12500
Put             Purchase          910                30        AMER            22/11/2008 35.68000
Put             Selling           60                 7.5       AMER            22/11/2008 1.30000
Put             Selling           60                 7.5       AMER            22/11/2008 1.35000
Put             Selling           154                30        AMER            22/11/2008 35.68000

(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                         17 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