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               05 January 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      13,457,925     6.51%        34,036       0.02%
securities
(2) Derivatives        3,600     0.00%
(other than
options)
(3) Options and        6,370     0.00%         1,430       0.00%
agreements to
purchase/sell
Total             13,467,895     6.51%        35,466       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      400                  5.2125
Purchase      7,382                4.9136
Purchase      10,553               4.0523
Purchase      16,650               4.9880
Purchase      9,500                4.8317
Purchase      300                  5.1900
Purchase      200                  5.0900
Purchase      4,600                5.2000 USD
Purchase      472                  3.6800 USD
Purchase      15,882               4.0066
Purchase      10,870               5.2000 USD
Purchase      53,503               5.2000
Purchase      1,800                5.2033
Purchase      5,200                5.0904
Purchase      100                  5.0000
Purchase      1,800                4.9700
Purchase      100                  3.7400
Purchase      1,400                5.1900
Purchase      900                  5.1700
Purchase      7,700                4.7994
Purchase      3,229                3.9083
Purchase      2,100                3.9281
Purchase      800                  5.2434
Purchase      100                  5.2600
Purchase      300                  5.2040
Purchase      900                  4.9800
Purchase      500                  4.2300
Purchase      32                   3.7700
Purchase      200                  5.1900
Purchase      500                  4.2300
Purchase      200                  3.8799
Purchase      53,503               5.2000
Purchase      800                  5.2313
Purchase      8,153                5.2000 USD
Purchase      200                  5.2160
Purchase      5,200                5.0904
Purchase      4,000                5.0815
Purchase      1,760                3.8800
Purchase      700                  4.9800
Sale          2,260                5.2000 USD
Sale          1,800                4.9700
Sale          2,260                5.2000 USD
Sale          1,130                5.2000 USD
Sale          339                  5.2000 USD
Sale          80                   5.2000
Sale          53,503               5.2000
Sale          15,882               4.0066
Sale          500                  4.2300
Sale          714                  5.2000 USD
Sale          405                  5.2000 USD
Sale          99,832               4.8882 USD
Sale          579                  5.2000 USD
Sale          53,503               5.2000
Sale          400                  4.5125 USD
Sale          270                  5.2000 USD
Sale          3,100                5.1970
Sale          9,600                4.8335
Sale          1,960                3.8800
Sale          500                  4.2300
Sale          900                  4.6500
Sale          400                  5.2444
Sale          2,300                4.6500
Sale          400                  5.2425
Sale          2,300                3.9640
Sale          16,650               4.9880
Sale          200                  5.1900
Sale          100                  5.0000
Sale          4,100                4.8588
Sale          3,600                4.7317
Sale          1,700                5.2041
Sale          800                  5.1638
Sale          200                  5.2160
Sale          5,200                5.0904
Sale          5,200                5.0904
Sale          440                  5.2000 USD
Sale          100                  5.1800
Sale          900                  5.1022
Sale          400                  5.2000
Sale          1,600                5.1775
Sale          900                  5.1622
Sale          7,382                4.9136

(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           16/01/2010   1.3
Call            Purchase          2                  7.5       AMER           22/08/2009   0.9
Call            Purchase          2                  10        AMER           22/08/2009   0.4
Call            Purchase          3                  7.5       AMER           22/08/2009   0.75
Call            Purchase          4                  7.5       AMER           16/01/2010   1.15
Call            Purchase          4                  10        AMER           22/08/2009   0.45
Call            Purchase          10                 7.5       AMER           22/08/2009   0.9
Call            Purchase          15                 7.5       AMER           16/01/2010   1.1
Call            Purchase          31                 5         AMER           22/08/2009   0.95
Call            Selling           1                  2.5       AMER           16/05/2009   1.666
Call            Selling           1                  5         AMER           17/01/2009   0.1
Call            Selling           1                  7.5       AMER           17/01/2009   0.1
Call            Selling           1                  7.5       AMER           21/02/2009   0.15
Call            Selling           2                  5         AMER           21/02/2009   0.95
Call            Selling           2                  7.5       AMER           21/02/2009   0.5
Call            Selling           3                  7.5       AMER           16/05/2009   0.65
Call            Selling           7                  2.5       AMER           16/05/2009   2.9
Call            Selling           8                  7.5       AMER           21/02/2009   0.2
Call            Selling           9                  7.5       AMER           17/01/2009   0.05
Call            Selling           10                 5         AMER           17/01/2009   0.1
Call            Selling           10                 7.5       AMER           17/01/2009   0.1
Call            Selling           11                 7.5       AMER           17/01/2009   0.1
Call            Selling           18                 7.5       AMER           21/02/2009   0.2
Call            Selling           20                 7.5       AMER           21/02/2009   0.2
Call            Selling           22                 7.5       AMER           17/01/2009   0.1
Call            Selling           35                 7.5       AMER           21/02/2009   0.2
Call            Selling           36                 5         AMER           17/01/2009   0.15
Call            Selling           36                 7.5       AMER           17/01/2009   0.15
Call            Selling           55                 7.5       AMER           21/02/2009   0.2
Put             Purchase          3                  5         AMER           21/02/2009   1.05
Put             Purchase          4                  5         AMER           21/02/2009   1
Put             Purchase          5                  5         AMER           21/02/2009   0.9
Put             Purchase          5                  7.5       AMER           16/01/2010   4.2
Put             Purchase          10                 5         AMER           16/01/2010   1.8
Put             Purchase          11                 5         AMER           21/02/2009   0.95
Put             Purchase          21                 5         AMER           21/02/2009   1
Put             Selling           2                  5         AMER           21/02/2009   1.05

(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                         06 January 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   -49                    5.0000           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                    15.0000          AMER           21/02/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -14                    15.0000          AMER           16/05/2009
Option            Purchased   -14                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    5.0000           AMER           16/01/2010
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -17                    10.0000          AMER           21/02/2009
Option            Purchased   -21                    2.5000           AMER           17/01/2009
Option            Purchased   -22                    2.5000           AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   -45                    7.5000           AMER           22/08/2009
Option            Purchased   -5                     12.5000          AMER           16/05/2009
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -57                    5.0000           AMER           16/05/2009
Option            Purchased   -107                   7.5000           AMER           17/01/2009
Option            Purchased   -114                   10.0000          AMER           22/08/2009
Option            Purchased   -145                   5.0000           AMER           21/02/2009
Option            Purchased   -171                   7.5000           AMER           21/02/2009
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   1,920                  17.5000          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   566                    12.5000          AMER           21/02/2009
Option            Purchased   -31                    5.0000           AMER           21/02/2009
Option            Purchased   10                     5.0000           AMER           16/01/2010
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   99                     12.5000          AMER           21/02/2009
Option            Purchased   37                     35.0000          AMER           21/02/2009
Option            Purchased   35                     5.0000           AMER           22/08/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   22                     10.0000          AMER           21/02/2009
Option            Purchased   21                     2.5000           AMER           21/02/2009
Option            Purchased   19                     7.5000           AMER           16/01/2010
Option            Purchased   15                     2.5000           AMER           16/05/2009
Option            Purchased   13                     5.0000           AMER           16/05/2009
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   -8                     2.5000           AMER           16/05/2009
Option            Purchased   5                      7.5000           AMER           16/01/2010
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   -3                     2.5000           AMER           17/01/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   11                     2.5000           AMER           16/01/2010
Option            Purchased   2                      7.5000           AMER           16/05/2009
Option            Purchased   10                     7.5000           AMER           16/05/2009
Option            Purchased   7                      15.0000          AMER           16/05/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   10                     2.5000           AMER           22/08/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   1                      5.0000           AMER           17/01/2009

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