Rule 8.3 - AMERICAN CAP LTD

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               20 February 2009


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      10,283,716     4.80%        379,780     0.18%
securities
(2) Derivatives        2,400     0.00%
(other than
options)
(3) Options and        6,280     0.00%          1,576     0.00%
agreements to
purchase/sell
Total             10,292,396     4.81%        381,356     0.18%


(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         167                    1.4100
Purchase         100                    1.4600
Purchase         38,932                 1.6829
Purchase         5,692                  1.4300
Purchase         217                    1.4700
Purchase         100                    1.4300
Purchase         700                    1.4914
Purchase         1,200                  1.4683
Purchase         359                    1.4259
Purchase         6,906                  1.4496 USD
Purchase         6,127                  1.5530 USD
Purchase         1,731                  1.4097
Purchase         5,000                  1.4700
Purchase         4,000                  1.4100
Purchase         1,100                  1.4555
Purchase         183                    1.4700
Purchase         2                      1.4600
Purchase         100                    1.4700
Purchase         1,200                  1.4290
Purchase         1,241                  1.3997
Purchase         6,066                  1.4082
Purchase         1,200                  1.4683
Purchase         400                    1.3925
Sale             476                    1.4100 USD
Sale             452                    1.4100 USD
Sale             1,100                  1.4555
Sale             378                    1.4100 USD
Sale             339                    1.4100 USD
Sale             1,200                  1.4683
Sale             244                    1.4100 USD
Sale             110                    1.4100 USD
Sale             216                    1.4100 USD
Sale             5,950                  .0100 USD
Sale             111,500                1.4149
Sale             2,900                  1.4700
Sale             100                    1.4700
Sale             2,000                  1.4700
Sale             226                    1.4100 USD
Sale             200                    1.4450
Sale             1,200                  1.4683
Sale             100                    1.4600
Sale             800                    1.4888
Sale             5,692                  1.4300
Sale             100                    1.4700
Sale             100                    1.4700
Sale             1,785                  1.4100 USD
Sale             1,241                  1.3997
Sale             1,044                  1.4100 USD
Sale             400                    1.3925
Sale             2,632                  1.5000
Sale             300                    1.4800
Sale             1,731                  1.4097
Sale             359                    1.4259
Sale             1,992                  1.4100 USD
Sale             400                    1.4100
Sale             100                    1.4700

(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. cal       selling,      securities to      price     American,      date        paid/received
option         purchasing,   which the option             European etc.              per unit (GBP)
               varying etc.  relates (GBP)
Call           Purchase      8                  5         AMER           16/01/2010  0.2500
Call           Purchase      10                 5         AMER           21/03/2009  0.0500
Call           Purchase      23                 5         AMER           21/03/2009  0.0320
Call           Purchase      63                 5         AMER           21/03/2009  0.0320
Call           Purchase      77                 5         AMER           16/05/2009  0.2250
Call           Selling       3                  5         AMER           16/05/2009  0.2500
Call           Selling       23                 5         AMER           21/03/2009  0.0320
Call           Selling       63                 5         AMER           21/03/2009  0.0320
Call           Selling       77                 5         AMER           16/05/2009  0.2250
Put            Purchase      1                  2.5       AMER           21/02/2009  1.1224
Put            Purchase      3                  2.5       AMER           21/02/2009  1.0000
Put            Selling       1                  2.5       AMER           21/02/2009  1.1224
Put            Selling       1                  2.5       AMER           21/02/2009  1.1500
Put            Selling       1                  2.5       AMER           21/02/2009  1.2000
Put            Selling       1                  5         AMER           21/02/2009  3.8000
Put            Selling       3                  12.5      AMER           21/02/2009  11.2000


(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                         23 February 2009
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   7                      40.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -1                     5.0000           AMER           16/01/2010
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   -3                     2.5000           AMER           21/02/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   -3                     12.5000          AMER           21/02/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   8                      5.0000           AMER           22/08/2009
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   11                     5.0000           AMER           16/05/2009
Option            Purchased   14                     2.5000           AMER           16/01/2010
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   2                      5.0000           AMER           22/08/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -23                    5.0000           AMER           21/02/2009
Option            Purchased   -19                    2.5000           AMER           22/08/2009
Option            Purchased   -18                    2.5000           AMER           21/02/2009
Option            Purchased   -16                    15.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -3                     7.5000           AMER           21/02/2009
Option            Purchased   -11                    15.0000          AMER           21/02/2009
Option            Purchased   22                     7.5000           AMER           16/01/2010
Option            Purchased   -10                    25.0000          AMER           21/02/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -8                     7.5000           AMER           21/03/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -5                     7.5000           AMER           16/01/2010
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -72                    5.0000           AMER           16/01/2010
Option            Purchased   16                     2.5000           AMER           16/05/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   -286                   5.0000           AMER           21/03/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   628                    10.0000          AMER           21/02/2009
Option            Purchased   -84                    10.0000          AMER           16/05/2009
Option            Purchased   612                    12.5000          AMER           21/02/2009
Option            Purchased   -67                    2.5000           AMER           21/03/2009
Option            Purchased   -62                    2.5000           AMER           16/01/2010
Option            Purchased   -59                    2.5000           AMER           16/05/2009
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -38                    10.0000          AMER           16/01/2010
Option            Purchased   -34                    10.0000          AMER           22/08/2009
Option            Purchased   -140                   5.0000           AMER           16/05/2009
Option            Purchased   99                     12.5000          AMER           21/02/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   27                     15.0000          AMER           16/05/2009
Option            Purchased   34                     7.5000           AMER           22/08/2009
Option            Purchased   35                     10.0000          AMER           16/01/2010
Option            Purchased   45                     7.5000           AMER           21/02/2009
Option            Purchased   1,100                  25.0000          AMER           21/02/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   -31                    10.0000          AMER           21/02/2009
Option            Purchased   119                    2.5000           AMER           22/08/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   227                    5.0000           AMER           21/02/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   64                     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