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               13 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      11,292,796     5.46%        223,779     0.11%
securities
(2) Derivatives        3,600     0.00%          2,700     0.00%
(other than
options)
(3) Options and        6,776     0.00%            971     0.00%
agreements to
purchase/sell
Total             11,303,172     5.47%        227,450     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             46,481                 5.1978
Purchase             200                    5.2100
Purchase             21,572                 4.6857
Purchase             2,100                  5.2233
Purchase             800                    5.2300
Purchase             200                    5.2250
Purchase             1,782                  5.1054 USD
Purchase             12,050                 4.8484
Purchase             2,987                  5.2300 USD
Purchase             1,300                  4.8650
Purchase             11,896                 5.1068 USD
Purchase             210                    5.2000
Purchase             1,000                  5.2300
Purchase             5,082                  5.2300
Purchase             2,000                  5.1500
Purchase             5,000                  5.0626
Purchase             3,300                  5.1591
Purchase             3,300                  4.9685
Purchase             600                    5.2350
Purchase             100                    5.4800
Purchase             7,123                  5.2300 USD
Purchase             167                    5.0900
Purchase             300                    5.1933
Purchase             11,700                 5.0381
Purchase             1,100                  5.2273
Purchase             812                    4.9300
Purchase             2,873                  4.9505
Purchase             921                    5.1270 USD
Purchase             100                    4.9300
Purchase             6,300                  4.8675
Purchase             5,300                  5.0370
Purchase             100                    5.2200
Purchase             100                    5.2110
Sale                 7,168                  5.2300
Sale                 270                    5.2300 USD
Sale                 330                    5.2300 USD
Sale                 226                    5.2300 USD
Sale                 165                    5.2300 USD
Sale                 791                    5.2300 USD
Sale                 300                    5.2500
Sale                 159                    4.7500
Sale                 1,080                  5.2300 USD
Sale                 25,300                 5.0870 USD
Sale                 5,198                  5.2300 USD
Sale                 2,088                  5.2300 USD
Sale                 1,808                  5.2300 USD
Sale                 921                    5.1270 USD
Sale                 921                    5.1270 USD
Sale                 1,017                  5.2300 USD
Sale                 1,017                  5.2300 USD
Sale                 54                     4.6000
Sale                 100                    5.2000
Sale                 3,400                  5.1685
Sale                 82                     5.2300
Sale                 912                    4.9300
Sale                 5,000                  5.2300
Sale                 67                     5.0900
Sale                 100                    5.4800
Sale                 1,400                  4.8904
Sale                 27,593                 5.1965
Sale                 1,413                  5.0025
Sale                 4,320                  5.1924
Sale                 12,050                 4.8484
Sale                 3,000                  5.2300
Sale                 1,588                  5.3943
Sale                 1,800                  4.9000
Sale                 100                    5.0900
Sale                 3,200                  5.1880
Sale                 300                    5.2103
Sale                 3,300                  5.1591
Sale                 2,873                  4.9505
Sale                 500                    5.1620
Sale                 2,000                  5.1500
Sale                 108                    5.2300 USD
Sale                 2,000                  5.2000
Sale                 5,300                  5.0370
Sale                 3,300                  4.9685
Sale                 23,471                 5.2392


(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          3                  5         AMER            16/05/2009  1.35
Call            Purchase          4                  2.5       AMER            16/01/2010  2.6
Call            Purchase          5                  2.5       AMER            16/01/2010  2.6
Call            Purchase          7                  5         AMER            21/02/2009  0.95
Call            Purchase          24                 10        AMER            16/05/2009  0.4
Call            Selling           1                  5         AMER            16/05/2009  1.85
Call            Selling           3                  5         AMER            21/02/2009  1
Call            Selling           3                  5         AMER            22/08/2009  1.95
Call            Selling           12                 5         AMER            16/01/2010  2.15
Call            Selling           19                 7.5       AMER            21/02/2009  0.35
Put             Purchase          5                  5         AMER            21/02/2009  1
Put             Purchase          10                 5         AMER            16/01/2010  1.85
Put             Selling           2                  7.5       AMER            21/02/2009  2.725


(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                         14 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           16/05/2009
Option            Purchased   -11                    22.5000          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   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -3                     10.0000          AMER           17/01/2009
Option            Purchased   -16                    25.0000          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                      7.5000           AMER           16/01/2010
Option            Purchased   5                      5.0000           AMER           16/05/2009
Option            Purchased   -5                     5.0000           AMER           22/08/2009
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   -11                    15.0000          AMER           21/02/2009
Option            Purchased   -26                    10.0000          AMER           16/01/2010
Option            Purchased   -12                    10.0000          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   -20                    2.5000           AMER           16/05/2009
Option            Purchased   -16                    15.0000          AMER           16/05/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   -28                    5.0000           AMER           16/01/2010
Option            Purchased   144                    20.0000          AMER           21/02/2009
Option            Purchased   5                      7.5000           AMER           16/01/2010
Option            Purchased   47                     5.0000           AMER           17/01/2009
Option            Purchased   54                     5.0000           AMER           17/01/2009
Option            Purchased   65                     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   37                     35.0000          AMER           21/02/2009
Option            Purchased   119                    25.0000          AMER           21/02/2009
Option            Purchased   32                     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                      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   11                     2.5000           AMER           16/01/2010
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   45                     7.5000           AMER           21/02/2009
Option            Purchased   13                     2.5000           AMER           16/01/2010
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   20                     5.0000           AMER           16/01/2010
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   27                     7.5000           AMER           21/02/2009
Option            Purchased   29                     2.5000           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