Rule 8.3 - AMERICAN CAP LTD

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 March 2009


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       4,792,501     2.34%          8,430     0.00%
securities
(2) Derivatives            0     0.00%
(other than
options)
(3) Options and       44,400     0.02%        109,600     0.05%
agreements to
purchase/sell
Total              4,836,901     2.36%        118,030     0.06%


(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         100                    1.1900
Purchase         2,100                  1.0753
Purchase         168                    1.1081
Purchase         1,000                  1.1310
Purchase         23,245                 1.1378
Purchase         4,600                  1.1283
Purchase         100                    1.1700
Purchase         108                    1.1900 USD
Purchase         1,500                  1.0400
Purchase         181,630                1.1900
Purchase         7,950                  1.1647
Purchase         35,137                 1.1023
Purchase         13,000                 1.0685
Purchase         900                    1.1356
Purchase         679                    1.0582
Purchase         25,000                 1.0343
Purchase         221,500                1.1874
Purchase         109                    1.0070 USD
Purchase         200                    1.1700
Purchase         800                    1.0600
Purchase         3,775                  1.1572
Purchase         1,400                  1.1400
Purchase         1,100                  1.1301
Purchase         3,300                  1.1145
Purchase         1,000                  1.1380
Purchase         200                    1.1050
Purchase         2,600                  1.1400
Purchase         1,000                  1.0800
Purchase         1,200                  1.1667
Sale             2,287                  1.0459
Sale             2,100                  1.0414
Sale             6,000                  1.1267
Sale             2,720                  1.0433 USD
Sale             10,000                 1.0800
Sale             200                    1.0500
Sale             15,813                 1.0309
Sale             496                    1.1900 USD
Sale             221,500                1.1874
Sale             109                    1.0070 USD
Sale             168                    1.1081
Sale             109                    1.0070 USD
Sale             4,600                  1.0365
Sale             1,100                  1.1700
Sale             100                    1.1210
Sale             1,500                  1.0400
Sale             679                    1.0582
Sale             1,000                  1.1310
Sale             1,000                  1.1310
Sale             3,300                  1.1145
Sale             900                    1.1356
Sale             44                     1.0200
Sale             35,137                 1.1023
Sale             800                    1.0600
Sale             221,500                1.1874
Sale             100                    1.1200
Sale             1,300                  1.1900
Sale             100                    1.1300
Sale             3,000                  1.0300
Sale             200                    1.1050


(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per


(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. cal       selling,      securities to      price     American,      date        paid/received
option         purchasing,   which the option             European etc.              per unit (GBP)
               varying etc.  relates (GBP)
Call           Selling       7                  2.5       AMER           18/04/2009  0.05
Call           Selling       10                 2.5       AMER           16/05/2009  0.15
Put            Purchase      1                  2.5       AMER           22/08/2009  1.6
Put            Selling       1                  2.5       AMER           21/03/2009  1.39
Put            Selling       1                  2.5       AMER           16/05/2009  1.55


(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                         23 March 2009
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   -34                    10.0000          AMER           22/08/2009
Option            Purchased   -286                   5.0000           AMER           21/03/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -8                     7.5000           AMER           21/03/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -18                    2.5000           AMER           22/08/2009
Option            Purchased   -20                    15.0000          AMER           16/05/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -28                    2.5000           AMER           16/01/2010
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -38                    10.0000          AMER           16/01/2010
Option            Purchased   -52                    5.0000           AMER           16/01/2010
Option            Purchased   -80                    2.5000           AMER           16/05/2009
Option            Purchased   -84                    10.0000          AMER           16/05/2009
Option            Purchased   -86                    2.5000           AMER           21/03/2009
Option            Purchased   -134                   2.5000           AMER           16/01/2010
Option            Purchased   -153                   5.0000           AMER           16/05/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   10                     2.5000           AMER           18/04/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   62                     7.5000           AMER           16/05/2009
Option            Purchased   35                     10.0000          AMER           16/01/2010
Option            Purchased   34                     7.5000           AMER           22/08/2009
Option            Purchased   27                     15.0000          AMER           16/05/2009
Option            Purchased   22                     7.5000           AMER           16/01/2010
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   -5                     7.5000           AMER           16/01/2010
Option            Purchased   11                     5.0000           AMER           16/05/2009
Option            Purchased   118                    2.5000           AMER           22/08/2009
Option            Purchased   8                      5.0000           AMER           22/08/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   2                      5.0000           AMER           22/08/2009
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   -1                     2.5000           AMER           21/03/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -2                     2.5000           AMER           18/04/2009
Option            Purchased   15                     2.5000           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