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               24 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      11,268,670     5.45%        234,765     0.11%
securities
(2) Derivatives        4,200     0.00%
(other than
options)
(3) Options and        6,725     0.00%          1,209     0.00%
agreements to
purchase/sell
Total             11,279,595     5.46%        235,974     0.11%

(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      5,148                4.5096 USD
Purchase      3,304                4.63
Purchase      1,100                4.63
Purchase      2,000                17.5
Purchase      5,960                4.4761 USD
Purchase      3,300                40
Purchase      400                  35
Purchase      1,500                30
Purchase      2,500                25
Purchase      21,100               20
Purchase      8,500                15
Purchase      6,000                10
Purchase      6,300                5
Purchase      182,100              30
Purchase      6,310                4.63
Purchase      64,269               4.5058 USD
Purchase      236                  4.4300 USD
Purchase      472                  4.4300 USD
Purchase      4,972                4.6300 USD
Purchase      108                  4.6300 USD
Purchase      108                  4.6300 USD
Purchase      3,832                4.4000 USD
Purchase      6,096                4.6300 USD
Purchase      5,553                4.5062 USD
Purchase      4,227                4.5014 USD
Purchase      20,877               4.5063 USD
Purchase      89,446               4.5058 USD
Purchase      95,957               4.5255 USD
Purchase      298                  4.6300 USD
Purchase      25,000               22.5
Purchase      2,380                4.6300 USD
Purchase      900                  4.51222222
Purchase      48                   4.59
Purchase      200                  4.5
Purchase      80                   4.5
Purchase      1,100                4.45681818
Purchase      1,678                4.47136443
Purchase      29,200               7.5
Purchase      300                  4.50333333
Purchase      300                  4.51333333
Purchase      300                  4.51666667
Purchase      1,300                4.49384615
Purchase      100                  4.571
Purchase      9,500                4.57305263
Purchase      200                  4.531
Purchase      200                  4.52
Purchase      500                  4.572
Purchase      48                   4.59
Purchase      800                  4.5675
Purchase      200                  4.485
Purchase      400                  4.51
Purchase      4,700                4.50723404
Purchase      764                  4.50408377
Purchase      2,425                4.41213632
Purchase      200                  4.565
Purchase      600                  4.51333333
Purchase      100                  4.5
Purchase      1,000                4.511
Sale          1,071                4.6300 USD
Sale          484                  4.6300 USD
Sale          2,142                4.6300 USD
Sale          1,474                4.6300 USD
Sale          770                  4.6300 USD
Sale          1,100                4.49486364
Sale          770                  4.6300 USD
Sale          5,572                4.6300 USD
Sale          91,400               25
Sale          2,400                4.476875
Sale          100                  4.408
Sale          1,318                4.5460091
Sale          382                  4.50282723
Sale          18                   4.32
Sale          700                  4.51142857
Sale          496                  4.63
Sale          121                  4.34
Sale          5,800                12.5
Sale          29,600               15
Sale          1,678                4.47136443
Sale          2,425                4.41213632
Sale          142,600              22.5
Sale          100,000              17.5
Sale          343,500              12.5
Sale          31,900               7.5
Sale          73,200               35
Sale          625,200              20
Sale          36,300               10
Sale          500                  45

(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            20/12/2008  0.2
Call            Sale              1                  7.5       AMER            20/12/2008  0.55
Call            Sale              4                  5         AMER            20/12/2008  0.5
Call            Sale              10                 7.5       AMER            20/12/2008  0.5
Call            Sale              18                 7.5       AMER            20/12/2008  0.1
Call            Sale              23                 5         AMER            20/12/2008  0.1
Put             Purchase          4                  2.5       AMER            21/02/2009  0.45
Put             Sale              1                  2.5       AMER            20/12/2008  0.15
Put             Sale              1                  20        AMER            21/02/2009  15.8
Put             Sale              1                  35        AMER            21/02/2009  30.7
Put             Sale              2                  20        AMER            21/02/2009  15.8
Put             Sale              4                  20        AMER            21/02/2009  15.8
Put             Sale              6                  10        AMER            20/12/2008  6
Put             Sale              10                 35        AMER            21/02/2009  30.7

(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                         25 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   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -4                     17.5000          AMER           20/12/2008
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -5                     7.5000           AMER           20/12/2008
Option            Purchased   -5                     7.5000           AMER           16/05/2009
Option            Purchased   -6                     15.0000          AMER           21/02/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -10                    10.0000          AMER           21/02/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -11                    2.5000           AMER           16/05/2009
Option            Purchased   -11                    15.0000          AMER           16/05/2009
Option            Purchased   -277                   17.5000          AMER           21/02/2009
Option            Purchased   -15                    10.0000          AMER           16/05/2009
Option            Purchased   1                      15.0000          AMER           20/12/2008
Option            Purchased   -17                    10.0000          AMER           20/12/2008
Option            Purchased   -18                    7.5000           AMER           21/02/2009
Option            Purchased   -20                    12.5000          AMER           20/12/2008
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -28                    7.5000           AMER           21/02/2009
Option            Purchased   -29                    7.5000           AMER           20/12/2008
Option            Purchased   -29                    5.0000           AMER           20/12/2008
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -62                    5.0000           AMER           20/12/2008
Option            Purchased   -142                   10.0000          AMER           20/12/2008
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -194                   5.0000           AMER           21/02/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   28                     15.0000          AMER           21/02/2009
Option            Purchased   1,100                  25.0000          AMER           21/02/2009
Option            Purchased   628                    10.0000          AMER           21/02/2009
Option            Purchased   612                    12.5000          AMER           21/02/2009
Option            Purchased   572                    12.5000          AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   162                    15.0000          AMER           20/12/2008
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   132                    25.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   99                     12.5000          AMER           21/02/2009
Option            Purchased   96                     20.0000          AMER           21/02/2009
Option            Purchased   -1                     2.5000           AMER           20/12/2008
Option            Purchased   37                     35.0000          AMER           21/02/2009
Option            Purchased   -1                     5.0000           AMER           16/05/2009
Option            Purchased   27                     30.0000          AMER           21/02/2009
Option            Purchased   25                     10.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   12                     2.5000           AMER           21/02/2009
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   7                      15.0000          AMER           16/05/2009
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   2                      5.0000           AMER           16/05/2009
Option            Purchased   2                      17.5000          AMER           20/12/2008
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   57                     22.5000          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