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               25 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      11,273,725     5.45%        250,502     0.12%
securities
(2) Derivatives        4,200     0.00%
(other than
options)
(3) Options and        6,710     0.00%          1,242     0.00%
agreements to
purchase/sell
Total             11,284,635     5.46%        251,744     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      1,037                4.1648 USD
Purchase      3,100                4.3047
Purchase      162                  4.0900 USD
Purchase      200                  4.0950
Purchase      3,900                4.2646
Purchase      1,200                4.6300
Purchase      200                  4.1350
Purchase      4,015                4.0900 USD
Purchase      1,017                4.0900 USD
Purchase      2,600                4.3192
Purchase      1,418                4.0900 USD
Purchase      626                  4.1575
Purchase      86,045               4.1239 USD
Purchase      4,505                4.1648 USD
Purchase      47                   4.0900 USD
Purchase      904                  4.0900 USD
Purchase      3,712                4.1648 USD
Purchase      2,380                4.0900 USD
Purchase      54                   4.0900 USD
Purchase      1,071                4.0900 USD
Purchase      162                  4.0900 USD
Purchase      354                  4.6300 USD
Purchase      2,300                4.0926
Purchase      800                  4.2450
Purchase      1,200                4.1258
Purchase      800                  4.0969
Purchase      2,500                4.1672
Purchase      4,920                4.3281
Purchase      3,035                4.1886
Purchase      6,409                4.1648 USD
Purchase      3,200                4.3255
Purchase      2,032                4.1488
Purchase      3,708                4.2682
Purchase      700                  4.0843
Purchase      2,438                4.1648 USD
Purchase      100                  4.1200
Purchase      1,100                4.1255
Purchase      400                  4.1180
Sale          4,537                4.0900 USD
Sale          5,800                4.3373
Sale          220                  4.0900 USD
Sale          2,600                4.4881 USD
Sale          21,507               4.0900 USD
Sale          165                  4.0900 USD
Sale          1,418                4.0900 USD
Sale          715                  4.0900 USD
Sale          565                  4.0900 USD
Sale          110                  4.0900 USD
Sale          200                  4.0900
Sale          3,035                4.1886
Sale          1,500                4.1700
Sale          200                  4.1800
Sale          1,000                4.0440
Sale          100                  4.1600
Sale          62,734               4.4300 USD
Sale          2,032                4.1488
Sale          2,023                4.0900 USD
Sale          21,024               4.0900
Sale          3,304                4.6300
Sale          2,600                4.4881
Sale          5,800                4.3373 USD
Sale          800                  4.6300 USD
Sale          1,387                4.0900 USD
Sale          3,920                4.1732

(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 0.35
Call            Purchase          1                  5         AMER 17/01/2009 0.7
Call            Selling           1                  10        AMER 21/02/2009 0.25
Call            Selling           10                 5         AMER 20/12/2008 0.5
Call            Selling           10                 7.5       AMER 17/01/2009 0.25
Call            Selling           23                 5         AMER 16/05/2009 1.25
Put             Purchase          4                  5         AMER 16/05/2009 1.95
Put             Purchase          10                 5         AMER 20/12/2008 1.25
Put             Selling           1                  5         AMER 20/12/2008 1.1
Put             Selling           2                  20        AMER 21/02/2009 16.1
Put             Selling           5                  30        AMER 21/02/2009 26
Put             Selling           5                  30        AMER 21/02/2009 26.1
Put             Selling           6                  30        AMER 21/02/2009 25.9

(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                         26 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   -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                    7.5000           AMER 17/01/2009
Option            Purchased   -10                    40.0000          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   -11                    10.0000          AMER 21/02/2009
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   -23                    5.0000           AMER 16/05/2009
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   -38                    5.0000           AMER 20/12/2008
Option            Purchased   -53                    5.0000           AMER 20/12/2008
Option            Purchased   -56                    20.0000          AMER 21/02/2009
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   25                     10.0000          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   94                     20.0000          AMER 21/02/2009
Option            Purchased   57                     22.5000          AMER 21/02/2009
Option            Purchased   -1                     17.5000          AMER 16/05/2009
Option            Purchased   7                      40.0000          AMER 21/02/2009
Option            Purchased   1,920                  17.5000          AMER 21/02/2009
Option            Purchased   1                      5.0000           AMER 17/01/2009
Option            Purchased   2                      17.5000          AMER 20/12/2008
Option            Purchased   4                      5.0000           AMER 16/05/2009
Option            Purchased   5                      12.5000          AMER 20/12/2008
Option            Purchased   37                     35.0000          AMER 21/02/2009
Option            Purchased   7                      30.0000          AMER 16/05/2009
Option            Purchased   28                     15.0000          AMER 21/02/2009
Option            Purchased   8                      17.5000          AMER 21/02/2009
Option            Purchased   10                     7.5000           AMER 16/05/2009
Option            Purchased   11                     30.0000          AMER 21/02/2009
Option            Purchased   12                     2.5000           AMER 21/02/2009
Option            Purchased   22                     20.0000          AMER 16/05/2009
Option            Purchased   -1                     2.5000           AMER 20/12/2008
Option            Purchased   7                      15.0000          AMER 16/05/2009

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