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               12 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      11,292,030     5.46%        220,773     0.11%
securities
(2) Derivatives        3,600     0.00%          2,700     0.00%
(other than
options)
(3) Options and        6,771     0.00%            993     0.00%
agreements to
purchase/sell
Total             11,302,401     5.47%        224,466     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                 1,300                  5.0875
Purchase                 211                    5.1098 USD
Purchase                 8,979                  5.0971
Purchase                 200                    5.0800
Purchase                 45,939                 5.0952
Purchase                 700                    4.9800
Purchase                 18,062                 5.0861
Purchase                 500                    5.0350
Purchase                 2,100                  5.2191
Purchase                 700                    5.0957
Purchase                 11,700                 5.1368
Purchase                 3,800                  5.0742
Purchase                 300                    5.0923
Purchase                 35                     5.0200
Purchase                 110                    5.1300 USD
Purchase                 392                    5.0979
Purchase                 2,000                  5.0800
Purchase                 71                     5.1300
Purchase                 13,602                 5.1318
Purchase                 2,000                  5.0659
Purchase                 600                    5.0750
Purchase                 400                    5.1000
Purchase                 1,300                  5.1054
Purchase                 1,900                  5.1047
Purchase                 1,200                  5.0885
Purchase                 15,135                 5.4349
Purchase                 5,500                  5.1184
Purchase                 6,580                  5.2091
Purchase                 400                    5.0700
Purchase                 2,900                  5.0990
Purchase                 824                    5.1728
Purchase                 400                    5.0650
Purchase                 5,345                  6.1600 USD
Purchase                 4,584                  5.1098 USD
Purchase                 25,300                 5.8930 USD
Purchase                 700                    5.0857
Purchase                 1,947                  5.1300 USD
Purchase                 7,078                  5.1300 USD
Sale                     31,986                 5.1147 USD
Sale                     10,629                 5.9049 USD
Sale                     500                    5.0600
Sale                     13,602                 5.9049 USD
Sale                     16,547                 5.1300 USD
Sale                     24,794                 5.9049 USD
Sale                     1,300                  5.0958
Sale                     30,100                 5.9049 USD
Sale                     824                    5.1728
Sale                     34,469                 5.9049 USD
Sale                     37,419                 5.9049 USD
Sale                     3,800                  5.0742
Sale                     38,062                 5.9049 USD
Sale                     500                    5.0750
Sale                     2,000                  5.0659
Sale                     100                    5.0750
Sale                     41,510                 5.9049 USD
Sale                     52,004                 5.9049 USD
Sale                     24                     5.6900
Sale                     63,344                 5.9979 USD
Sale                     72,549                 5.9049 USD
Sale                     1,200                  5.0885
Sale                     90,682                 5.0989
Sale                     226                    5.1300 USD
Sale                     270                    5.1300 USD
Sale                     165                    5.1300 USD
Sale                     165                    5.1300 USD
Sale                     135                    5.4400 USD
Sale                     486                    5.1300 USD
Sale                     65                     5.4400 USD
Sale                     2,492                  5.2000
Sale                     522                    5.1300 USD
Sale                     565                    5.1300 USD
Sale                     1,000                  5.1210
Sale                     1,500                  5.1300
Sale                     300                    5.0923
Sale                     1,469                  5.1300 USD
Sale                     1,488                  5.1300 USD
Sale                     2,034                  5.1300 USD
Sale                     6,280                  5.1127
Sale                     35                     5.0200
Sale                     2,440                  5.9049 USD
Sale                     500                    5.1540
Sale                     2,938                  5.1300 USD
Sale                     15,135                 5.4349
Sale                     244                    5.1300 USD
Sale                     5,522                  5.9049 USD
Sale                     610                    5.1300 USD


(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  2.15
Call            Purchase          8                  7.5       AMER            21/02/2009  0.3
Call            Selling           1                  7.5       AMER            16/05/2009  1.125
Call            Selling           2                  5         AMER            21/02/2009  1.6
Call            Selling           2                  5         AMER            16/05/2009  1.9
Call            Selling           2                  5         AMER            16/01/2010  2.4
Call            Selling           4                  10        AMER            16/05/2009  0.5
Call            Selling           5                  7.5       AMER            22/08/2009  1.1
Call            Selling           20                 10        AMER            16/01/2010  1
Call            Selling           87                 7.5       AMER            22/08/2009  1.1
Put             Purchase          3                  5         AMER            17/01/2009  0.4
Put             Selling           5                  5         AMER            22/08/2009  1.85
Put             Selling           10                 5         AMER            21/02/2009  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                         13 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                     10.0000          AMER           17/01/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -11                    15.0000          AMER           21/02/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -9                     12.5000          AMER           16/05/2009
Option            Purchased   5                      7.5000           AMER           16/01/2010
Option            Purchased   -5                     5.0000           AMER           22/08/2009
Option            Purchased   -16                    15.0000          AMER           16/05/2009
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   3                      5.0000           AMER           16/05/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -82                    7.5000           AMER           22/08/2009
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -40                    7.5000           AMER           17/01/2009
Option            Purchased   -37                    10.0000          AMER           22/08/2009
Option            Purchased   -30                    10.0000          AMER           21/02/2009
Option            Purchased   -16                    5.0000           AMER           16/01/2010
Option            Purchased   -26                    10.0000          AMER           16/01/2010
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -24                    7.5000           AMER           17/01/2009
Option            Purchased   -22                    2.5000           AMER           21/02/2009
Option            Purchased   -21                    2.5000           AMER           17/01/2009
Option            Purchased   -21                    5.0000           AMER           21/02/2009
Option            Purchased   -20                    2.5000           AMER           16/05/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   -27                    10.0000          AMER           16/05/2009
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   47                     7.5000           AMER           21/02/2009
Option            Purchased   54                     5.0000           AMER           17/01/2009
Option            Purchased   61                     5.0000           AMER           21/02/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   90                     7.5000           AMER           16/05/2009
Option            Purchased   3                      7.5000           AMER           16/01/2010
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   37                     35.0000          AMER           21/02/2009
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   7                      40.0000          AMER           21/02/2009
Option            Purchased   8                      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   47                     5.0000           AMER           17/01/2009
Option            Purchased   11                     5.0000           AMER           16/05/2009
Option            Purchased   46                     7.5000           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   35                     5.0000           AMER           22/08/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   11                     30.0000          AMER           21/02/2009


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