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               20 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      11,606,770     5.61%        246,916     0.12%
securities
(2) Derivatives        3,800     0.00%
(other than
options)
(3) Options and       23,109     0.01%          6,283     0.00%
agreements to
purchase/sell
Total             11,633,679     5.63%        253,199     0.12%

(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      149                  4.3400 USD
Purchase      1,300                4.41461538
Purchase      1,800                4.34
Purchase      443                  4.45
Purchase      2,500                22.5
Purchase      2,500                7.5
Purchase      527                  4.47148008
Purchase      500                  17.5
Purchase      1,900                35
Purchase      2,400                30
Purchase      81,200               30
Purchase      590                  5.3500 USD
Purchase      3,340                4.6023 USD
Purchase      688                  4.59534884
Purchase      9,780                4.3400 USD
Purchase      1,557                4.6919332
Purchase      1,694                4.3400 USD
Purchase      255                  4.3400 USD
Purchase      238                  4.3400 USD
Purchase      1,190                4.3400 USD
Purchase      4,760                4.3400 USD
Purchase      216                  4.3400 USD
Purchase      162                  4.3400 USD
Purchase      108                  4.3400 USD
Purchase      452                  4.3400 USD
Purchase      2,034                4.3400 USD
Purchase      220                  4.3400 USD
Purchase      1,100                4.3400 USD
Purchase      32,200               4.3400 USD
Purchase      3,200                4.3984375
Purchase      7,900                4.43856709
Purchase      100                  4.7
Purchase      1,300                4.72827692
Purchase      2,794                4.57236026
Purchase      1,700                4.51647059
Purchase      2,000                4.73
Purchase      592                  4.56498113
Purchase      7,065                4.43965322
Purchase      100                  4.73
Purchase      800                  4.73
Purchase      200                  4.71
Purchase      6,900                4.54
Purchase      400                  4.6675
Purchase      248                  4.34
Purchase      8,335                4.47311818
Purchase      4,100                4.93168293
Purchase      4,900                4.45104082
Sale          7,699                5.3500 USD
Sale          216                  4.3400 USD
Sale          592                  4.56498113
Sale          6,900                4.54
Sale          700                  4.40714286
Sale          248                  4.4
Sale          2,090                4.3400 USD
Sale          1,190                4.3400 USD
Sale          1,300                4.34
Sale          1,050                4.39761905
Sale          200                  4.43
Sale          400                  4.415
Sale          327                  4.3069419
Sale          1,600                4.46375
Sale          100                  4.59
Sale          32,200               4.9900 USD
Sale          588                  4.59340136
Sale          242                  4.3400 USD
Sale          395                  4.3400 USD
Sale          300                  4.59666667
Sale          1,700                4.59647059
Sale          9,780                4.3400 USD
Sale          200                  4.3
Sale          2,794                4.57236026
Sale          3,295                4.3400 USD

(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                  5         AMER          16/05/2009   1.6000
Call            Selling           1                  7.5       AMER          20/12/2008   0.3500
Call            Selling           1                  7.5       AMER          16/05/2009   1.2000
Call            Selling           3                  5         AMER          20/12/2008   0.9000
Call            Selling           3                  7.5       AMER          20/12/2008   0.9000
Put             Purchase          2                  30        AMER          16/05/2009   24.3000
Put             Purchase          4                  2.5       AMER          21/02/2009   0.5500
Put             Purchase          5                  17.5      AMER          22/11/2008   0.0000
Put             Purchase          19                 35        AMER          22/11/2008   0.0000
Put             Purchase          24                 30        AMER          22/11/2008   0.0000
Put             Purchase          25                 7.5       AMER          22/11/2008   0.0000
Put             Purchase          25                 22.5      AMER          22/11/2008   0.0000
Put             Purchase          43                 15        AMER          22/11/2008   10.2000
Put             Purchase          812                30        AMER          22/11/2008   0.0000
Put             Selling           1                  35        AMER          21/02/2009   31.1000
Put             Selling           9                  10        AMER          20/12/2008   5.7000

(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                         21 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   -6                     15.0000          AMER           21/02/2009
Option            Purchased   -20                    17.5000          AMER           22/11/2008
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   -15                    30.0000          AMER           22/11/2008
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -11                    10.0000          AMER           20/12/2008
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -10                    10.0000          AMER           21/02/2009
Option            Purchased   -2,246                 30.0000          AMER           22/11/2008
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -5                     7.5000           AMER           16/05/2009
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                     35.0000          AMER           22/11/2008
Option            Purchased   -3                     5.0000           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   -10                    15.0000          AMER           16/05/2009
Option            Purchased   -118                   40.0000          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   -292                   7.5000           AMER           22/11/2008
Option            Purchased   -277                   17.5000          AMER           21/02/2009
Option            Purchased   -250                   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   -20                    12.5000          AMER           20/12/2008
Option            Purchased   -126                   17.5000          AMER           22/11/2008
Option            Purchased   -23                    7.5000           AMER           21/02/2009
Option            Purchased   -102                   12.5000          AMER           22/11/2008
Option            Purchased   -97                    15.0000          AMER           22/11/2008
Option            Purchased   -85                    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   -33                    40.0000          AMER           22/11/2008
Option            Purchased   -25                    25.0000          AMER           22/11/2008
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   -128                   10.0000          AMER           20/12/2008
Option            Purchased   572                    12.5000          AMER           21/02/2009
Option            Purchased   2                      17.5000          AMER           20/12/2008
Option            Purchased   144                    20.0000          AMER           21/02/2009
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   119                    25.0000          AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   103                    20.0000          AMER           21/02/2009
Option            Purchased   612                    12.5000          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   436                    7.5000           AMER           21/02/2009
Option            Purchased   12                     7.5000           AMER           20/12/2008
Option            Purchased   6,252                  20.0000          AMER           22/11/2008
Option            Purchased   5                      45.0000          AMER           22/11/2008
Option            Purchased   6                      5.0000           AMER           16/05/2009
Option            Purchased   7                      15.0000          AMER           16/05/2009
Option            Purchased   7                      30.0000          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   132                    25.0000          AMER           21/02/2009
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   4                      2.5000           AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   25                     10.0000          AMER           21/02/2009
Option            Purchased   27                     30.0000          AMER           21/02/2009
Option            Purchased   28                     15.0000          AMER           21/02/2009
Option            Purchased   48                     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   10                     5.0000           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