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               08 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      12,416,569     6.01%        48,294      0.02%
securities
(2) Derivatives        3,600     0.00%
(other than
options)
(3) Options and       6,773      0.00%           945      0.00%
agreements to
purchase/sell
Total            12,426,942      6.01%        49,239      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                 25,300                 6.2400 USD
Purchase                 17,748                 6.1500 USD
Purchase                 4,800                  6.1500 USD
Purchase                 3,602                  6.1500 USD
Purchase                 2,610                  6.1500 USD
Purchase                 472                    6.2400 USD
Purchase                 244                    6.1500 USD
Purchase                 110                    6.1500 USD
Sale                     25,300                 6.2400 USD
Sale                     10,224                 6.1702 USD
Sale                     11,338                 6.1702 USD
Sale                     19,987                 6.1702 USD
Sale                     200                    6.2400
Sale                     48,722                 6.1702 USD
Sale                     25,262                 6.1702 USD
Sale                     200                    6.0800
Sale                     8,002                  6.1717 USD
Sale                     100                    6.2050
Sale                     4,800                  6.0300 USD
Sale                     300                    6.1500
Sale                     5,216                  6.1444
Sale                     400                    6.3500
Sale                     400                    6.1300
Sale                     21,156                 6.1684 USD
Sale                     2,400                  6.0300 USD
Sale                     328                    6.1717 USD
Sale                     339                    6.1500 USD
Sale                     405                    6.1500 USD
Sale                     432                    6.1500 USD
Sale                     678                    6.1500 USD
Sale                     708                    6.2400 USD
Sale                     992                    6.1500 USD
Sale                     5,594                  6.1717 USD
Sale                     2,200                  6.1663 USD
Sale                     6,149                  6.1717 USD
Sale                     2,760                  6.1717 USD
Sale                     2,810                  6.1702 USD
Sale                     3,132                  6.1717 USD
Sale                     4,300                  6.1663 USD
Sale                     500                    6.1940
Sale                     5,594                  6.1702 USD
Sale                     1,000                  6.2206
Sale                     1,130                  6.1500 USD
Sale                     1,000                  6.1114
Sale                     1,400                  6.1400
Sale                     200                    6.1100
Sale                     1,400                  6.1829
Sale                     700                    6.1000
Sale                     24,380                 6.1237
Sale                     285                    6.2050
Sale                     4,021                  6.2198
Sale                     100                    6.1000
Sale                     1,000                  6.2206
Sale                     600                    6.1217
Sale                     1,000                  6.1325
Sale                     2,423                  6.1240
Sale                     1,000                  6.1720
Sale                     400                    6.1010
Sale                     6,300                  6.1398
Sale                     285                    6.2050
Sale                     2,200                  6.1002
Sale                     37,962                 6.1264
Sale                     1,300                  6.2616
Sale                     400                    6.1375
Sale                     4,843                  6.1229
Sale                     400                    6.3500
Sale                     900                    6.2223
Sale                     100                    6.1400
Sale                     400                    6.3500
Sale                     300                    6.1210
Sale                     200                    6.0200
Sale                     500                    6.2000
Sale                     100                    6.2050
Sale                     3,702                  6.0939
Sale                     500                    6.1600
Sale                     5,900                  6.1295
Sale                     700                    6.1196
Sale                     4,021                  6.2198
Sale                     1,000                  6.1000
Sale                     1,400                  6.2057
Sale                     3,702                  6.0939
Sale                     400                    6.1225
Sale                     200                    6.2850
Sale                     800                    6.1438
Sale                     300                    6.1210
Sale                     200                    6.2200


(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   1.95
Call            Purchase          1                  7.5       AMER           21/02/2009   0.65
Call            Purchase          1                  7.5       AMER           16/05/2009   1.2
Call            Purchase          1                  10        AMER           16/05/2009   0.75
Call            Purchase          4                  7.5       AMER           21/02/2009   0.66
Call            Purchase          4                  7.5       AMER           22/08/2009   1.55
Call            Purchase          8                  7.5       AMER           16/05/2009   1.2
Call            Purchase          10                 10        AMER           16/05/2009   0.6
Call            Purchase          20                 7.5       AMER           21/02/2009   0.65
Call            Purchase          26                 5         AMER           21/02/2009   1.9
Call            Selling           1                  5         AMER           17/01/2009   1.6
Call            Selling           1                  5         AMER           21/02/2009   1.9
Call            Selling           1                  5         AMER           21/02/2009   1.95
Call            Selling           1                  5         AMER           21/02/2009   1.96
Call            Selling           1                  7.5       AMER           16/01/2010   1.8
Call            Selling           1                  10        AMER           16/05/2009   0.75
Call            Selling           2                  7.5       AMER           16/01/2010   1.8
Call            Selling           2                  10        AMER           16/05/2009   0.75
Call            Selling           2                  15        AMER           16/05/2009   0.3
Call            Selling           10                 7.5       AMER           17/01/2009   0.25
Put             Purchase          1                  7.5       AMER           21/02/2009   2.1
Put             Purchase          46                 7.5       AMER           21/02/2009   2.1

(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                         09 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   -3                     2.5000           AMER           17/01/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -11                    5.0000           AMER           21/02/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -9                     12.5000          AMER           16/05/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -11                    15.0000          AMER           21/02/2009
Option            Purchased   -3                     10.0000          AMER           17/01/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
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   5                      5.0000           AMER           16/05/2009
Option            Purchased   5                      7.5000           AMER           22/08/2009
Option            Purchased   5                      7.5000           AMER           16/01/2010
Option            Purchased   -6                     10.0000          AMER           16/01/2010
Option            Purchased   -23                    10.0000          AMER           16/05/2009
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -111                   10.0000          AMER           22/08/2009
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -40                    7.5000           AMER           17/01/2009
Option            Purchased   -30                    10.0000          AMER           21/02/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -24                    7.5000           AMER           17/01/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   -22                    2.5000           AMER           21/02/2009
Option            Purchased   -21                    2.5000           AMER           17/01/2009
Option            Purchased   -20                    2.5000           AMER           16/05/2009
Option            Purchased   -16                    15.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -15                    5.0000           AMER           16/01/2010
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   47                     7.5000           AMER           21/02/2009
Option            Purchased   49                     5.0000           AMER           17/01/2009
Option            Purchased   63                     5.0000           AMER           21/02/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   91                     7.5000           AMER           16/05/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   35                     5.0000           AMER           22/08/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   448                    15.0000          AMER           21/02/2009
Option            Purchased   566                    12.5000          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   99                     12.5000          AMER           21/02/2009
Option            Purchased   15                     2.5000           AMER           16/05/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   8                      2.5000           AMER           22/08/2009
Option            Purchased   10                     2.5000           AMER           22/08/2009
Option            Purchased   10                     5.0000           AMER           16/01/2010
Option            Purchased   11                     2.5000           AMER           16/01/2010
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   47                     5.0000           AMER           17/01/2009
Option            Purchased   13                     7.5000           AMER           16/01/2010
Option            Purchased   37                     35.0000          AMER           21/02/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   27                     15.0000          AMER           16/05/2009
Option            Purchased   29                     2.5000           AMER           21/02/2009
Option            Purchased   33                     7.5000           AMER           21/02/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   11                     5.0000           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