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               21 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      12,135,195     5.87%        254,222     0.12%
securities
(2) Derivatives        4,200     0.00%
(other than
options)
(3) Options and       23,094     0.01%          5,931     0.00%
agreements to
purchase/sell
Total             12,162,489     5.88%        260,153     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      595                  4.4300 USD
Purchase      800                  4.15375
Purchase      12                   3.99
Purchase      600                  4.43
Purchase      3,695                4.1259 USD
Purchase      375,016              4.1427 USD
Purchase      600                  4.0200 USD
Purchase      63,790               4.1259 USD
Purchase      5,927                4.1491 USD
Purchase      14,937               4.1259 USD
Purchase      94                   4.4300 USD
Purchase      16,771               4.1491 USD
Purchase      45,813               4.1259 USD
Purchase      3,986                4.1259 USD
Purchase      4,760                4.4300 USD
Purchase      42,500               30
Purchase      432                  4.4300 USD
Purchase      324                  4.4300 USD
Purchase      678                  4.4300 USD
Purchase      452                  4.4300 USD
Purchase      904                  4.4300 USD
Purchase      770                  4.4300 USD
Purchase      495                  4.4300 USD
Purchase      1,430                4.4300 USD
Purchase      2,200                4.4300 USD
Purchase      2,724                4.1043 USD
Purchase      300                  4.13666667
Purchase      100                  4.13
Purchase      270                  4.4300 USD
Purchase      2,941                4.01398256
Purchase      402                  4.26293532
Purchase      2,200                4.33545455
Purchase      1,600                4.255625
Purchase      1,137                4.18511513
Purchase      1,416                4.3400 USD
Purchase      1,100                4.28363636
Purchase      6,298                4.35221658
Purchase      4,000                4.152075
Purchase      12,100               3.99107438
Purchase      1,300                4.07769231
Purchase      400                  4.24275
Purchase      400                  4.2825
Purchase      100                  4.34
Purchase      500                  4.232
Purchase      500                  4.144
Sale          5,412                4.1122912
Sale          440                  4.4300 USD
Sale          1,137                4.18511513
Sale          2,400                4.08085833
Sale          2,310                4.4300 USD
Sale          48                   4.15
Sale          700                  4.17971429
Sale          904                  4.4300 USD
Sale          200                  4.4
Sale          62,734               4.4300 USD
Sale          570                  4.15964912
Sale          10,522               4.12537921
Sale          127                  4.4300 USD
Sale          800                  4.2325
Sale          112                  4.43
Sale          2,941                4.01398256
Sale          696                  4.0091954
Sale          400                  4.24
Sale          100                  4.4
Sale          1,578                4.17641318
Sale          800                  4.03375
Sale          1,275                4.4300 USD
Sale          300                  4.40333333
Sale          238                  4.4300 USD
Sale          2,200                4.33545455

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Long          400           4.0425

(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            Selling           1                  10        AMER         20/12/2008   0.1500
Call            Selling           1                  15        AMER         16/05/2009   0.4000
Call            Selling           4                  5         AMER         16/05/2009   1.5000
Call            Selling           5                  7.5       AMER         21/02/2009   0.8500
Call            Selling           6                  10        AMER         20/12/2008   0.1500
Call            Selling           7                  10        AMER         20/12/2008   0.1500
Put             Purchased         10                 5         AMER         20/12/2008   1.5000
Put             Purchased         425                30        AMER         22/11/2008   0.0000
Put             Selling           1                  5         AMER         16/05/2009   0.8500
Put             Selling           1                  15        AMER         20/12/2008   11.2000
Put             Selling           11                 2.5       AMER         16/05/2009   2.4000
Put             Selling           51                 5         AMER         21/02/2009   2.1000

(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 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   88                     10.0000          AMER           22/11/2008
Option            Purchased   319                    7.5000           AMER           22/11/2008
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   12                     7.5000           AMER           20/12/2008
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   8                      17.5000          AMER           21/02/2009
Option            Purchased   79                     35.0000          AMER           22/11/2008
Option            Purchased   7                      45.0000          AMER           22/11/2008
Option            Purchased   99                     12.5000          AMER           21/02/2009
Option            Purchased   103                    20.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   132                    25.0000          AMER           21/02/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   162                    15.0000          AMER           20/12/2008
Option            Purchased   162                    7.5000           AMER           22/11/2008
Option            Purchased   192                    25.0000          AMER           22/11/2008
Option            Purchased   296                    15.0000          AMER           22/11/2008
Option            Purchased   -11                    2.5000           AMER           16/05/2009
Option            Purchased   58                     12.5000          AMER           22/11/2008
Option            Purchased   -1                     17.5000          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                    40.0000          AMER           21/02/2009
Option            Purchased   -6                     15.0000          AMER           21/02/2009
Option            Purchased   -5                     7.5000           AMER           20/12/2008
Option            Purchased   -5                     7.5000           AMER           16/05/2009
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   10                     5.0000           AMER           22/11/2008
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   363                    10.0000          AMER           22/11/2008
Option            Purchased   -1                     5.0000           AMER           16/05/2009
Option            Purchased   1                      15.0000          AMER           20/12/2008
Option            Purchased   2                      17.5000          AMER           20/12/2008
Option            Purchased   2                      5.0000           AMER           16/05/2009
Option            Purchased   4                      2.5000           AMER           21/02/2009
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   5                      45.0000          AMER           22/11/2008
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   -3                     5.0000           AMER           20/12/2008
Option            Purchased   -28                    7.5000           AMER           21/02/2009
Option            Purchased   314                    20.0000          AMER           22/11/2008
Option            Purchased   -126                   17.5000          AMER           22/11/2008
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   -85                    15.0000          AMER           22/11/2008
Option            Purchased   -63                    5.0000           AMER           22/11/2008
Option            Purchased   -62                    5.0000           AMER           20/12/2008
Option            Purchased   -60                    10.0000          AMER           22/11/2008
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -33                    40.0000          AMER           22/11/2008
Option            Purchased   -194                   5.0000           AMER           21/02/2009
Option            Purchased   -25                    25.0000          AMER           22/11/2008
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -20                    12.5000          AMER           20/12/2008
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   -56                    20.0000          AMER           21/02/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   572                    12.5000          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   -142                   10.0000          AMER           20/12/2008
Option            Purchased   1,426                  22.5000          AMER           22/11/2008
Option            Purchased   -11                    15.0000          AMER           16/05/2009
Option            Purchased   3,435                  12.5000          AMER           22/11/2008
Option            Purchased   6,252                  20.0000          AMER           22/11/2008
Option            Purchased   -1,821                 30.0000          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   1,100                  25.0000          AMER           21/02/2009

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