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               23 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      10,152,644     4.74%        371,747    0.17%
securities
(2) Derivatives        2,400     0.00%
(other than
options)
(3) Options and          464     0.00%            966    0.00%
agreements to
purchase/sell
Total             10,155,508     4.74%        372,713    0.17%


(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         100                    1.3000
Purchase         2,412                  1.3000 USD
Purchase         25,200                 17.5000
Purchase         100                    1.4600
Purchase         300                    1.3233
Purchase         85                     1.3000
Purchase         900                    1.3711
Purchase         252                    1.4468
Purchase         3,900                  1.3600
Purchase         5,600                  1.3618
Purchase         396,423                1.4100 USD
Purchase         20,000                 1.3000
Purchase         238                    1.3000
Purchase         2,300                  5.0000
Purchase         1,000                  25.0000
Purchase         300                    12.5000
Purchase         300                    2.5000
Purchase         8,055                  1.3000 USD
Purchase         1                      1.3300
Purchase         600                    1.3000
Purchase         800                    1.3600
Purchase         5,600                  1.3618
Purchase         885                    1.3597
Sale             226                    1.3000 USD
Sale             783                    1.3000 USD
Sale             488                    1.3000 USD
Sale             108                    1.3000 USD
Sale             108                    1.3000 USD
Sale             440                    1.3000 USD
Sale             8,055                  1.3000 USD
Sale             162                    1.3000 USD
Sale             339                    1.3000 USD
Sale             2,412                  1.3000 USD
Sale             20,000                 1.3000
Sale             996                    1.3000 USD
Sale             238                    1.3000 USD
Sale             244                    1.3000 USD
Sale             339                    1.3000 USD
Sale             85                     1.3000
Sale             62,800                 10.0000
Sale             5,600                  1.3618
Sale             800                    1.3600
Sale             600                    1.3633
Sale             252                    1.4468
Sale             100                    1.3000
Sale             300                    1.3233
Sale             192,000                17.5000
Sale             61,200                 12.5000
Sale             43,600                 7.5000
Sale             110,000                25.0000
Sale             4,500                  7.5000
Sale             44,800                 15.0000
Sale             2,400                  15.0000
Sale             1,200                  1.3592
Sale             5,600                  1.3618
Sale             100                    1.4600
Sale             3,900                  1.3600
Sale             100                    1.3200
Sale             14,280                 1.4100
Sale             100                    1.3600
Sale             885                    1.3597
Sale             83                     1.5020 USD
Sale             700                    40.0000
Sale             1,100                  30.0000
Sale             14,400                 20.0000


(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      2                  2.5       AMER           16/01/2010  0.45
Call           Purchase      4                  5         AMER           16/01/2010  0.25
Call           Purchase      10                 2.5       AMER           16/01/2010  0.45
Call           Selling       4                  15        AMER           16/05/2009  0.05
Call           Selling       8                  2.5       AMER           21/03/2009  0.15


(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                         24 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   -34                    10.0000          AMER           22/08/2009
Option            Purchased   -286                   5.0000           AMER           21/03/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -8                     7.5000           AMER           21/03/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -19                    2.5000           AMER           22/08/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -38                    10.0000          AMER           16/01/2010
Option            Purchased   -59                    2.5000           AMER           16/05/2009
Option            Purchased   -62                    2.5000           AMER           16/01/2010
Option            Purchased   -68                    5.0000           AMER           16/01/2010
Option            Purchased   -75                    2.5000           AMER           21/03/2009
Option            Purchased   -84                    10.0000          AMER           16/05/2009
Option            Purchased   -140                   5.0000           AMER           16/05/2009
Option            Purchased   -20                    15.0000          AMER           16/05/2009
Option            Purchased   16                     2.5000           AMER           16/05/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   64                     7.5000           AMER           16/05/2009
Option            Purchased   35                     10.0000          AMER           16/01/2010
Option            Purchased   34                     7.5000           AMER           22/08/2009
Option            Purchased   27                     15.0000          AMER           16/05/2009
Option            Purchased   26                     2.5000           AMER           16/01/2010
Option            Purchased   -5                     7.5000           AMER           16/01/2010
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   119                    2.5000           AMER           22/08/2009
Option            Purchased   11                     5.0000           AMER           16/05/2009
Option            Purchased   8                      5.0000           AMER           22/08/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   2                      5.0000           AMER           22/08/2009
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   -1                     5.0000           AMER           16/01/2010
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   22                     7.5000           AMER           16/01/2010

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