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               24 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       4,924,112     2.41%        122,815     0.06%
securities
(2) Derivatives            0     0.00%
(other than
options)
(3) Options and       50,100     0.02%         73,000     0.04%
agreements to
purchase/sell
Total              4,974,212     2.43%        195,815     0.10%


(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         200                    1.8500
Purchase         800                    1.9065
Purchase         1,100                  1.8991
Purchase         1,100                  1.8855
Purchase         7,500                  2.0000
Purchase         5,300                  2.2500
Purchase         1,000                  2.2500
Purchase         1,200                  2.2500
Purchase         100                    1.8610
Purchase         100                    2.0210
Purchase         10,000                 2.0268
Purchase         7,137                  2.1365
Purchase         300                    2.0700
Purchase         4,977                  1.8951
Purchase         6,000                  1.9192
Purchase         1,454                  1.8283
Purchase         500                    1.8900
Purchase         846                    1.8897
Purchase         1,200                  1.9500
Purchase         500                    2.1700
Purchase         6,785                  2.0803
Purchase         1,400                  2.1000
Purchase         100                    2.1000
Purchase         200                    2.0750
Purchase         800                    1.9065
Purchase         2,407                  1.9957
Purchase         2,200                  2.0131
Purchase         108                    1.9700 USD
Purchase         500                    2.1700
Purchase         113                    1.9700 USD
Purchase         226                    1.9700 USD
Purchase         700                    2.0243
Sale             200                    1.8500
Sale             300                    2.0700
Sale             4,977                  1.8951
Sale             200                    2.0050
Sale             10,000                 1.9100
Sale             1,600                  2.0213
Sale             3,520                  1.9700 USD
Sale             6,842                  2.0599 USD
Sale             7,390                  2.0599 USD
Sale             27,805                 2.0599 USD
Sale             500                    2.1700
Sale             100                    1.9300
Sale             43,956                 2.0297 USD
Sale             220                    1.9700 USD
Sale             7,137                  2.1365
Sale             1,400                  2.1000
Sale             800                    1.9065
Sale             800                    1.8610
Sale             1,900                  1.9022
Sale             100                    2.0210
Sale             1,100                  1.8855
Sale             6,800                  2.0434
Sale             500                    2.1700
Sale             200                    2.0850
Sale             700                    2.0343
Sale             1,400                  2.1000
Sale             2,500                  2.0096
Sale             15,000                 2.1250
Sale             100                    1.8610
Sale             1,200                  1.9335
Sale             6,785                  2.0803
Sale             118,650                2.0599 USD


(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           Purchase      1                  2.5       AMER           18/04/2009  0.15
Call           Purchase      1                  2.5       AMER           16/05/2009  0.35
Call           Purchase      1                  5         AMER           22/08/2009  0.15
Call           Purchase      1                  5         AMER           22/08/2009  0.25
Call           Purchase      1                  7.5       AMER           16/01/2010  0.35
Call           Purchase      2                  2.5       AMER           16/05/2009  0.4
Call           Purchase      2                  2.5       AMER           16/01/2010  0.95
Call           Purchase      2                  2.5       AMER           16/01/2010  1
Call           Purchase      2                  5         AMER           21/11/2009  0.4
Call           Purchase      3                  2.5       AMER           16/05/2009  0.3
Call           Purchase      3                  2.5       AMER           22/08/2009  0.65
Call           Purchase      3                  5         AMER           16/01/2010  0.55
Call           Purchase      4                  2.5       AMER           18/04/2009  0.1
Call           Purchase      4                  2.5       AMER           18/04/2009  0.15
Call           Purchase      4                  5         AMER           16/01/2010  0.45
Call           Purchase      6                  5         AMER           21/11/2009  0.4
Call           Purchase      6                  5         AMER           16/01/2010  0.45
Call           Purchase      7                  2.5       AMER           18/04/2009  0.25
Call           Purchase      7                  2.5       AMER           16/05/2009  0.25
Call           Purchase      7                  2.5       AMER           22/08/2009  0.69
Call           Purchase      9                  2.5       AMER           16/05/2009  0.225
Call           Purchase      10                 7.5       AMER           16/01/2010  0.35
Call           Purchase      11                 2.5       AMER           18/04/2009  0.25
Call           Purchase      21                 5         AMER           16/05/2009  0.013
Call           Purchase      39                 2.5       AMER           16/05/2009  0.225
Call           Purchase      52                 2.5       AMER           18/04/2009  0.25
Call           Purchase      53                 5         AMER           16/05/2009  0.013
Call           Selling       1                  2.5       AMER           16/05/2009  0.3
Call           Selling       1                  2.5       AMER           16/05/2009  0.4
Call           Selling       1                  2.5       AMER           16/01/2010  0.85
Call           Selling       1                  2.5       AMER           16/01/2010  1.05
Call           Selling       1                  5         AMER           22/08/2009  0.15
Call           Selling       1                  5         AMER           16/01/2010  0.65
Call           Selling       1                  7.5       AMER           22/08/2009  0.15
Call           Selling       2                  2.5       AMER           16/05/2009  0.3
Call           Selling       3                  2.5       AMER           18/04/2009  0.35
Call           Selling       3                  2.5       AMER           16/01/2010  1
Call           Selling       3                  5         AMER           16/05/2009  0.1
Call           Selling       4                  2.5       AMER           18/04/2009  0.1
Call           Selling       4                  2.5       AMER           21/11/2009  1
Call           Selling       4                  2.5       AMER           16/01/2010  1
Call           Selling       5                  2.5       AMER           21/11/2009  0.9
Call           Selling       8                  2.5       AMER           18/04/2009  0.35
Call           Selling       9                  2.5       AMER           16/05/2009  0.225
Call           Selling       9                  2.5       AMER           16/05/2009  0.45
Call           Selling       9                  2.5       AMER           16/01/2010  0.85
Call           Selling       10                 5         AMER           16/05/2009  0.1
Call           Selling       21                 5         AMER           16/05/2009  0.013
Call           Selling       31                 2.5       AMER           22/08/2009  0.8
Call           Selling       39                 2.5       AMER           16/05/2009  0.225
Call           Selling       53                 5         AMER           16/05/2009  0.013
Put            Purchase      1                  2.5       AMER           21/11/2009  1.25
Put            Purchase      2                  2.5       AMER           22/08/2009  1.15
Put            Purchase      5                  2.5       AMER           16/01/2010  1.3
Put            Purchase      9                  2.5       AMER           16/01/2010  1.3
Put            Purchase      10                 2.5       AMER           21/11/2009  1.25
Put            Selling       6                  2.5       AMER           16/05/2009  0.75


(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 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   -176                   5.0000           AMER           16/05/2009
Option            Purchased   -5                     2.5000           AMER           16/01/2010
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -9                     2.5000           AMER           21/11/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -38                    2.5000           AMER           22/08/2009
Option            Purchased   -38                    10.0000          AMER           16/01/2010
Option            Purchased   -40                    5.0000           AMER           16/01/2010
Option            Purchased   -71                    2.5000           AMER           16/05/2009
Option            Purchased   -84                    10.0000          AMER           16/05/2009
Option            Purchased   -148                   2.5000           AMER           16/01/2010
Option            Purchased   -20                    15.0000          AMER           16/05/2009
Option            Purchased   11                     5.0000           AMER           16/05/2009
Option            Purchased   74                     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   32                     7.5000           AMER           22/08/2009
Option            Purchased   22                     7.5000           AMER           16/01/2010
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   12                     7.5000           AMER           16/01/2010
Option            Purchased   120                    2.5000           AMER           22/08/2009
Option            Purchased   11                     2.5000           AMER           21/11/2009
Option            Purchased   9                      5.0000           AMER           21/11/2009
Option            Purchased   9                      5.0000           AMER           22/08/2009
Option            Purchased   9                      2.5000           AMER           16/05/2009
Option            Purchased   2                      5.0000           AMER           22/08/2009
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   22                     20.0000          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