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               19 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      11,474,439     5.55%        258,564     0.13%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       23,107     0.01%          7,223     0.00%
agreements to
purchase/sell
Total             11,501,346     5.56%        265,787     0.13%

(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      864                  5.3500 USD
Purchase      1,100                5.43454545
Purchase      1,811                5.7845 USD
Purchase      200,118              5.7845 USD
Purchase      6,293                5.7845 USD
Purchase      3,588                5.7845 USD
Purchase      484                  5.3500 USD
Purchase      1,020                5.3500 USD
Purchase      26,844               5.7845 USD
Purchase      2,684                5.7845 USD
Purchase      135                  5.3500 USD
Purchase      1,190                5.3500 USD
Purchase      2,380                5.3500 USD
Purchase      3,200                5.8433 USD
Purchase      324                  5.3500 USD
Purchase      23,847               5.7845 USD
Purchase      678                  5.3500 USD
Purchase      2,034                5.3500 USD
Purchase      452                  5.3500 USD
Purchase      226                  5.3500 USD
Purchase      678                  5.3500 USD
Purchase      1,921                5.3500 USD
Purchase      2,938                5.3500 USD
Purchase      550                  5.3500 USD
Purchase      1,320                5.3500 USD
Purchase      165                  5.3500 USD
Purchase      165                  5.3500 USD
Purchase      12,428               5.7845 USD
Purchase      43,346               5.7845 USD
Purchase      216                  5.3500 USD
Purchase      354                  5.35
Purchase      234                  5.69609518
Purchase      2,680                5.90663921
Purchase      1,000                5.835
Purchase      100                  5.94
Purchase      50,668               5.7845 USD
Purchase      4,019                5.7845 USD
Purchase      500                  5.6
Purchase      200                  5.825
Purchase      250                  5.35
Purchase      1,000                5.616
Purchase      300                  15
Purchase      87,500               30
Purchase      472                  6.3000 USD
Purchase      472                  6.3000 USD
Purchase      3,416                5.7767 USD
Purchase      500                  5.54
Purchase      5,300                5.3500 USD
Purchase      3,278                5.3500 USD
Purchase      447                  5.3500 USD
Purchase      300                  5.76666667
Sale          4,800                6.16729167
Sale          165                  5.3500 USD
Sale          1,200                5.35
Sale          660                  5.3500 USD
Sale          2,000                5.79375
Sale          2,680                5.90663921
Sale          234                  5.69609518
Sale          900                  5.80777778
Sale          600                  5.82833333
Sale          4,840                5.3500 USD
Sale          238                  5.3500 USD
Sale          5,300                6.1000 USD
Sale          1,100                5.82

(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          5                  7.5       AMER         16/05/2009   1.5
Call            Purchase          6                  7.5       AMER         20/12/2008   0.55
Call            Purchase          10                 7.5       AMER         20/12/2008   0.5
Call            Purchase          10                 15        AMER         21/02/2009   0.25
Call            Purchase          18                 7.5       AMER         22/11/2008   0.05
Call            Selling           1                  17.5      AMER         21/02/2009   0.3
Call            Selling           1                  25        AMER         16/05/2009   0.25
Put             Purchase          1                  7.5       AMER         21/02/2009   2.95
Put             Purchase          3                  15        AMER         22/11/2008   0.00001
Put             Purchase          875                30        AMER         22/11/2008   0.00001
Put             Selling           2                  5         AMER         22/11/2008   0.2
Put             Selling           2                  7.5       AMER         20/12/2008   2.2
Put             Selling           2                  30        AMER         21/02/2009   24.7
Put             Selling           12                 10        AMER         16/05/2009   5.3

(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                         20 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   144                    20.0000          AMER           21/02/2009
Option            Purchased   -6                     15.0000          AMER           21/02/2009
Option            Purchased   28                     15.0000          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   25                     10.0000          AMER           21/02/2009
Option            Purchased   132                    25.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   162                    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   448                    15.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   5                      45.0000          AMER           22/11/2008
Option            Purchased   -5                     7.5000           AMER           20/12/2008
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -4                     17.5000          AMER           20/12/2008
Option            Purchased   -4                     7.5000           AMER           16/05/2009
Option            Purchased   -2                     10.0000          AMER           20/12/2008
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   1                      15.0000          AMER           20/12/2008
Option            Purchased   2                      17.5000          AMER           20/12/2008
Option            Purchased   27                     30.0000          AMER           21/02/2009
Option            Purchased   5                      30.0000          AMER           16/05/2009
Option            Purchased   628                    10.0000          AMER           21/02/2009
Option            Purchased   5                      5.0000           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   8                      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   10                     7.5000           AMER           16/05/2009
Option            Purchased   16                     7.5000           AMER           20/12/2008
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   -23                    35.0000          AMER           22/11/2008
Option            Purchased   -102                   12.5000          AMER           22/11/2008
Option            Purchased   -97                    15.0000          AMER           22/11/2008
Option            Purchased   -72                    5.0000           AMER           20/12/2008
Option            Purchased   -63                    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   -39                    30.0000          AMER           22/11/2008
Option            Purchased   -33                    40.0000          AMER           22/11/2008
Option            Purchased   -25                    17.5000          AMER           22/11/2008
Option            Purchased   572                    12.5000          AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -128                   15.0000          AMER           22/11/2008
Option            Purchased   -23                    7.5000           AMER           21/02/2009
Option            Purchased   -20                    12.5000          AMER           20/12/2008
Option            Purchased   -18                    7.5000           AMER           21/02/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -15                    10.0000          AMER           16/05/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -10                    10.0000          AMER           21/02/2009
Option            Purchased   -10                    15.0000          AMER           16/05/2009
Option            Purchased   -25                    25.0000          AMER           22/11/2008
Option            Purchased   -715                   12.5000          AMER           22/11/2008
Option            Purchased   -10                    40.0000          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   -118                   40.0000          AMER           22/11/2008
Option            Purchased   -3,058                 30.0000          AMER           22/11/2008
Option            Purchased   -126                   17.5000          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   -277                   17.5000          AMER           21/02/2009
Option            Purchased   -275                   22.5000          AMER           22/11/2008
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   -128                   10.0000          AMER           20/12/2008
Option            Purchased   612                    12.5000          AMER           21/02/2009
Option            Purchased   6,252                  20.0000          AMER           22/11/2008

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