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               17 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      10,622,419     5.14%         76,925     0.04%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       23,082     0.01%          8,756     0.00%
agreements to
purchase/sell
Total             10,649,301     5.15%         85,681     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      1,524                6.0300 USD
Purchase      939                  6.3157 USD
Purchase      30,000               30
Purchase      12,300               6.0300 USD
Purchase      5,572                6.2201 USD
Purchase      77,918               6.2054 USD
Purchase      89,961               6.2165 USD
Purchase      400                  6.1600 USD
Purchase      6,700                6.2214 USD
Purchase      13,076               6.2201 USD
Purchase      14,942               6.2165 USD
Purchase      858                  6.20746366
Purchase      765                  6.0300 USD
Purchase      472                  6.3300 USD
Purchase      476                  6.0300 USD
Purchase      162                  6.0300 USD
Purchase      2,147                6.0300 USD
Purchase      904                  6.0300 USD
Purchase      275                  6.0300 USD
Purchase      110                  6.0300 USD
Purchase      880                  6.0300 USD
Purchase      11,000               6.2214 USD
Purchase      318                  6.3330 USD
Purchase      318                  6.3330 USD
Purchase      1,560                6.16852564
Purchase      968                  6.0300 USD
Purchase      1,100                6.17275455
Purchase      400                  6.04
Purchase      800                  6.18125
Purchase      2,240                6.16554911
Purchase      1,300                6.12392308
Purchase      13,500               6.07426815
Purchase      200                  6.13
Purchase      4,400                6.13272727
Purchase      900                  6.05555556
Purchase      1,700                6.16181176
Purchase      300                  6.17333333
Purchase      1,938                6.1790139
Purchase      400                  6.185
Purchase      500                  6.1498
Purchase      1,000                6.14725
Sale          858                  6.20746366
Sale          226                  6.0300 USD
Sale          318                  6.3330 USD
Sale          385                  6.0300 USD
Sale          200                  6.085
Sale          12,300               5.9600 USD
Sale          4,800                6.214375
Sale          100                  5.92
Sale          569                  6.0300 USD
Sale          100                  6.06
Sale          1,938                6.1790139
Sale          1,100                6.04454545
Sale          125                  6.072
Sale          100                  5.99
Sale          802                  6.08735661
Sale          900                  6.01222222

(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          2                  7.5       AMER            16/05/2009 1.6000
Call            Purchase          5                  5         AMER            16/05/2009 2.5000
Call            Purchase          300                30        AMER            22/11/2008 0.0000
Put             Purchase          2                  17.5      AMER            20/12/2008 11.4500
Put             Purchase          10                 12.5      AMER            21/02/2009 6.8000
Put             Purchase          23                 5         AMER            22/11/2008 0.1500
Put             Selling           2                  10        AMER            22/11/2008 4.0000
Put             Selling           2                  10        AMER            20/12/2008 4.3500

(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                         18 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   -9                      7.5000          AMER           16/05/2009
Option            Purchased   5                       12.5000         AMER           20/12/2008
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   -16                     15.0000         AMER           21/02/2009
Option            Purchased   -15                     25.0000         AMER           16/05/2009
Option            Purchased   -11                     22.5000         AMER           21/02/2009
Option            Purchased   -10                     10.0000         AMER           21/02/2009
Option            Purchased   -25                     30.0000         AMER           16/05/2009
Option            Purchased   -10                     40.0000         AMER           21/02/2009
Option            Purchased   -25                     17.5000         AMER           22/11/2008
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                      10.0000         AMER           20/12/2008
Option            Purchased   -2                      17.5000         AMER           16/05/2009
Option            Purchased   -2                      20.0000         AMER           16/05/2009
Option            Purchased   -1                      17.5000         AMER           16/05/2009
Option            Purchased   1                       15.0000         AMER           20/12/2008
Option            Purchased   -4,608                  30.0000         AMER           22/11/2008
Option            Purchased   -10                     15.0000         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   -317                    7.5000          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   -187                    30.0000         AMER           21/02/2009
Option            Purchased   -143                    5.0000          AMER           21/02/2009
Option            Purchased   -23                     35.0000         AMER           22/11/2008
Option            Purchased   -128                    10.0000         AMER           20/12/2008
Option            Purchased   5                       30.0000         AMER           16/05/2009
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   -61                     5.0000          AMER           22/11/2008
Option            Purchased   -60                     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   -33                     40.0000         AMER           22/11/2008
Option            Purchased   -131                    15.0000         AMER           22/11/2008
Option            Purchased   612                     12.5000         AMER           21/02/2009
Option            Purchased   2                       17.5000         AMER           20/12/2008
Option            Purchased   144                     7.5000          AMER           22/11/2008
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   132                     25.0000         AMER           21/02/2009
Option            Purchased   572                     12.5000         AMER           21/02/2009
Option            Purchased   119                     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   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                       45.0000         AMER           22/11/2008
Option            Purchased   5                       5.0000          AMER           16/05/2009
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           22/11/2008
Option            Purchased   10                      5.0000          AMER           16/05/2009
Option            Purchased   144                     20.0000         AMER           21/02/2009
Option            Purchased   22                      20.0000         AMER           16/05/2009
Option            Purchased   6,252                   20.0000         AMER           22/11/2008
Option            Purchased   28                      15.0000         AMER           21/02/2009
Option            Purchased   29                      30.0000         AMER           21/02/2009
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   88                      10.0000         AMER           22/11/2008
Option            Purchased   99                      12.5000         AMER           21/02/2009
Option            Purchased   103                     20.0000         AMER           21/02/2009
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