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               05 December 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      12,675,980     6.13%        44,490      0.02%
securities
(2) Derivatives        4,200     0.00%
(other than
options)
(3) Options and        6,563     0.00%         1,383      0.00%
agreements to
purchase/sell
Total             12,686,743     6.14%        45,873      0.02%

(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      7,866                3.1295 USD
Purchase      400                  3.11
Purchase      770                  3.1500 USD
Purchase      200                  3.115
Purchase      1,600                3.15
Purchase      295                  3.4600 USD
Purchase      94                   3.1500 USD
Purchase      1,452                3.1500 USD
Purchase      1,600                3.14
Purchase      270                  3.1500 USD
Purchase      200                  3.115
Purchase      254                  3.1500 USD
Purchase      270                  3.1500 USD
Purchase      216                  3.1500 USD
Purchase      452                  3.1500 USD
Purchase      3,164                3.1500 USD
Purchase      1,017                3.1500 USD
Purchase      110                  3.1500 USD
Purchase      765                  3.1500 USD
Purchase      644                  3.13892692
Purchase      1,609                3.18284364
Purchase      150                  3.14
Purchase      300                  3.00666667
Purchase      988                  3.09785425
Purchase      600                  3.095
Purchase      100                  3.158
Sale          1,288                3.11689441
Sale          900                  3.11222222
Sale          1,200                3.12083333
Sale          600                  3.095
Sale          644                  3.13892692
Sale          1,700                3.11
Sale          1,000                3.117
Sale          2,600                3.13653846
Sale          200                  3.125
Sale          1,500                3.11282667
Sale          1,609                3.18284364
Sale          2,300                3.12478261
Sale          100                  3.42
Sale          150                  3.15
Sale          200                  3.13
Sale          300                  3.13666667
Sale          600                  3.14833333
Sale          200                  3.115

(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             21/02/2009   0.35
Call            Purchase          1                  5         AMER             21/02/2009   0.4
Call            Purchase          5                  2.5       AMER             16/05/2009   1.65
Call            Purchase          5                  5         AMER             16/05/2009   0.65
Call            Selling           1                  5         AMER             16/05/2009   0.7
Call            Selling           2                  5         AMER             16/05/2009   0.85
Call            Selling           5                  12.5      AMER             16/05/2009   0.2
Call            Selling           5                  15        AMER             21/02/2009   0.15
Put             Purchase          1                  2.5       AMER             16/05/2009   0.8
Put             Purchase          10                 2.5       AMER             16/05/2009   0.75
Put             Selling           1                  2.5       AMER             20/12/2008   0.2
Put             Selling           2                  20        AMER             21/02/2009   17.2
Put             Selling           4                  15        AMER             21/02/2009   12
Put             Selling           10                 2.5       AMER             20/12/2008   0.2
Put             Selling           23                 2.5       AMER             20/12/2008   0.2
Put             Selling           45                 2.5       AMER             20/12/2008   0.2

(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                         08 December 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   -8                     7.5000           AMER           16/05/2009
Option            Purchased   1                      15.0000          AMER           20/12/2008
Option            Purchased   -11                    10.0000          AMER           21/02/2009
Option            Purchased   -11                    15.0000          AMER           21/02/2009
Option            Purchased   -11                    15.0000          AMER           16/05/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -13                    10.0000          AMER           16/05/2009
Option            Purchased   -8                     7.5000           AMER           17/01/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -6                     7.5000           AMER           20/12/2008
Option            Purchased   -5                     12.5000          AMER           16/05/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -4                     17.5000          AMER           20/12/2008
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -38                    5.0000           AMER           20/12/2008
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -187                   5.0000           AMER           21/02/2009
Option            Purchased   -142                   10.0000          AMER           20/12/2008
Option            Purchased   -106                   5.0000           AMER           16/05/2009
Option            Purchased   -90                    2.5000           AMER           20/12/2008
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -55                    5.0000           AMER           20/12/2008
Option            Purchased   1                      2.5000           AMER           21/02/2009
Option            Purchased   -29                    7.5000           AMER           20/12/2008
Option            Purchased   -28                    7.5000           AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -20                    12.5000          AMER           20/12/2008
Option            Purchased   -18                    7.5000           AMER           21/02/2009
Option            Purchased   -17                    10.0000          AMER           20/12/2008
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   572                    12.5000          AMER           21/02/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   37                     35.0000          AMER           21/02/2009
Option            Purchased   57                     22.5000          AMER           21/02/2009
Option            Purchased   92                     20.0000          AMER           21/02/2009
Option            Purchased   99                     12.5000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   126                    25.0000          AMER           21/02/2009
Option            Purchased   22                     10.0000          AMER           21/02/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   612                    12.5000          AMER           21/02/2009
Option            Purchased   628                    10.0000          AMER           21/02/2009
Option            Purchased   1,100                  25.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   7                      5.0000           AMER           21/02/2009
Option            Purchased   1                      5.0000           AMER           17/01/2009
Option            Purchased   2                      17.5000          AMER           20/12/2008
Option            Purchased   5                      12.5000          AMER           20/12/2008
Option            Purchased   5                      2.5000           AMER           16/05/2009
Option            Purchased   7                      15.0000          AMER           16/05/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   10                     5.0000           AMER           17/01/2009
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   11                     2.5000           AMER           16/05/2009
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   12                     2.5000           AMER           21/02/2009
Option            Purchased   7                      30.0000          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