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               25 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       4,682,108     2.29%        151,605     0.07%
securities
(2) Derivatives            0     0.00%
(other than
options)
(3) Options and       52,700     0.03%         80,700     0.04%
agreements to
purchase/sell
Total              4,734,808     2.31%        232,305     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         8,500                  2.4200
Purchase         1,300                  2.3405
Purchase         2,400                  2.3346
Purchase         7,500                  2.3525
Purchase         5,539                  2.3077
Purchase         32,000                 2.4400
Purchase         2,600                  2.2300
Purchase         112                    2.3700
Purchase         1,500                  2.3412
Purchase         4,500                  2.3595
Purchase         10,000                 2.3455
Purchase         500                    2.2080
Purchase         10,000                 1.9100
Purchase         100                    2.4000
Purchase         11,900                 2.2901
Purchase         12,801                 2.2231
Purchase         1,700                  2.2053
Purchase         700                    2.2243
Purchase         1,700                  2.2335
Purchase         9,043                  2.2728
Purchase         18,000                 2.3643
Purchase         400                    2.3850
Purchase         18,000                 2.4213 USD
Purchase         6,400                  2.1847
Purchase         2,100                  2.2152
Purchase         28,219                 1.9700 USD
Purchase         1,400                  2.3071
Purchase         1,700                  2.2053
Sale             56,726                 2.2429 USD
Sale             55,611                 2.2457 USD
Sale             3,800                  2.3797
Sale             13,600                 2.3574
Sale             400                    2.3850
Sale             100                    2.4400
Sale             5,539                  2.3077
Sale             4,509                  2.1900 USD
Sale             400                    2.4200
Sale             3,727                  2.2457 USD
Sale             3,456                  2.2457 USD
Sale             783                    2.1900 USD
Sale             10,000                 1.9057
Sale             13,863                 2.2457 USD
Sale             1,500                  2.3412
Sale             6,900                  2.3508
Sale             1,400                  2.3171
Sale             7,500                  2.3525
Sale             2,100                  2.2211
Sale             207,732                1.9700 USD
Sale             100                    2.4200
Sale             10,000                 2.3455
Sale             34,712                 2.4240
Sale             8,500                  2.4200
Sale             4,300                  2.2121
Sale             100                    2.2100
Sale             2,000                  2.2600
Sale             1,700                  2.2053
Sale             7                      2.4200
Sale             1,300                  2.3405
Sale             9,043                  2.2728

(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         22/08/2009    0.6
Call           Purchase      1                  2.5       AMER         22/08/2009    0.8
Call           Purchase      1                  5         AMER         22/08/2009    0.3
Call           Purchase      1                  7.5       AMER         16/01/2010    0.35
Call           Purchase      2                  2.5       AMER         16/01/2010    0.875
Call           Purchase      2                  5         AMER         21/11/2009    0.5
Call           Purchase      3                  5         AMER         21/11/2009    0.45
Call           Purchase      3                  5         AMER         21/11/2009    0.5
Call           Purchase      4                  2.5       AMER         18/04/2009    0.175
Call           Purchase      4                  10        AMER         16/01/2010    0.25
Call           Purchase      5                  2.5       AMER         22/08/2009    0.8
Call           Purchase      7                  2.5       AMER         18/04/2009    0.3
Call           Purchase      7                  2.5       AMER         16/01/2010    1
Call           Purchase      9                  2.5       AMER         16/05/2009    0.3
Call           Purchase      9                  2.5       AMER         22/08/2009    0.8
Call           Purchase      10                 7.5       AMER         16/01/2010    0.35
Call           Purchase      10                 10        AMER         16/01/2010    0.25
Call           Purchase      11                 5         AMER         21/11/2009    0.425
Call           Purchase      18                 5         AMER         21/11/2009    0.45
Call           Purchase      21                 5         AMER         16/05/2009    0.075
Call           Selling       1                  2.5       AMER         16/05/2009    0.55
Call           Selling       1                  2.5       AMER         22/08/2009    0.6
Call           Selling       1                  2.5       AMER         22/08/2009    0.8
Call           Selling       2                  2.5       AMER         16/01/2010    0.875
Call           Selling       2                  5         AMER         21/11/2009    0.425
Call           Selling       2                  5         AMER         21/11/2009    0.65
Call           Selling       3                  2.5       AMER         16/01/2010    1.15
Call           Selling       4                  2.5       AMER         18/04/2009    0.175
Call           Selling       4                  2.5       AMER         16/05/2009    0.5
Call           Selling       5                  2.5       AMER         22/08/2009    0.8
Call           Selling       5                  2.5       AMER         16/01/2010    1.1
Call           Selling       5                  5         AMER         16/05/2009    0.15
Call           Selling       9                  2.5       AMER         16/05/2009    0.3
Call           Selling       9                  2.5       AMER         16/05/2009    0.4
Call           Selling       9                  2.5       AMER         22/08/2009    0.65
Call           Selling       9                  2.5       AMER         16/01/2010    1.15
Call           Selling       9                  5         AMER         16/05/2009    0.1
Call           Selling       9                  5         AMER         16/01/2010    0.75
Call           Selling       11                 2.5       AMER         16/01/2010    1.1
Call           Selling       17                 2.5       AMER         16/05/2009    0.5
Call           Selling       21                 5         AMER         16/05/2009    0.075
Call           Selling       53                 5         AMER         21/11/2009    0.65
Put            Purchase      6                  2.5       AMER         22/08/2009    0.92

(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 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   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -5                     2.5000           AMER           16/01/2010
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -20                    5.0000           AMER           21/11/2009
Option            Purchased   -190                   5.0000           AMER           16/05/2009
Option            Purchased   -24                    10.0000          AMER           16/01/2010
Option            Purchased   -1                     17.5000          AMER           16/05/2009
Option            Purchased   -34                    10.0000          AMER           22/08/2009
Option            Purchased   -43                    2.5000           AMER           22/08/2009
Option            Purchased   -49                    5.0000           AMER           16/01/2010
Option            Purchased   -84                    10.0000          AMER           16/05/2009
Option            Purchased   -102                   2.5000           AMER           16/05/2009
Option            Purchased   -169                   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   81                     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   33                     7.5000           AMER           16/01/2010
Option            Purchased   32                     7.5000           AMER           22/08/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   11                     2.5000           AMER           21/11/2009
Option            Purchased   10                     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   126                    2.5000           AMER           22/08/2009
Option            Purchased   22                     7.5000           AMER           16/01/2010

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