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               20 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      11,295,920     5.28%       257,859      0.12%
securities
(2) Derivatives        7,000     0.00%
(other than
options)
(3) Options and        6,768     0.00%           859      0.00%
agreements to
purchase/sell
Total             11,309,688     5.28%       258,718      0.12%


(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         100                    4.19
Purchase         226                    3.6600 USD
Purchase         328                    3.74402439
Purchase         3,148                  4.06527887
Purchase         1,610                  4.05619025
Purchase         300                    3.72
Purchase         244                    3.8574 USD
Purchase         772                    3.77067358
Purchase         119                    3.6600 USD
Purchase         1,610                  4.05619025
Purchase         6,160                  4.04427918
Purchase         105                    4.05
Purchase         387                    4.11224806
Purchase         2,151                  4.03900527
Purchase         900                    4.21833333
Purchase         6,160                  4.04427918
Purchase         6,993                  3.6600 USD
Purchase         286                    3.8574 USD
Purchase         6,505                  3.8574 USD
Purchase         48                     3.66
Purchase         62                     3.66
Purchase         5,771                  4.5800 USD
Purchase         70                     4.31
Purchase         2,400                  7.5
Purchase         53,857                 4.88
Sale             53,857                 4.88
Sale             600                    4.3
Sale             2,100                  2.5
Sale             100                    4.33
Sale             2,000                  4.02
Sale             46                     4.06
Sale             900                    3.64
Sale             1,600                  4.01
Sale             500                    3.674
Sale             38                     4.3
Sale             100                    3.86
Sale             100                    4.2
Sale             1,352                  3.99316568
Sale             3,148                  4.06527887
Sale             994                    3.95042254
Sale             200                    4.015
Sale             400                    4.01125
Sale             108                    3.6600 USD
Sale             6,448                  3.6600 USD
Sale             2,260                  3.6600 USD
Sale             1,356                  3.6600 USD
Sale             1,328                  3.6600 USD
Sale             1,130                  3.6600 USD
Sale             992                    3.6600 USD
Sale             678                    3.6600 USD
Sale             565                    3.6600 USD
Sale             476                    3.6600 USD
Sale             452                    3.6600 USD
Sale             275                    3.6600 USD
Sale             270                    3.6600 USD
Sale             200                    4.36
Sale             226                    3.6600 USD
Sale             3,520                  4.42475568
Sale             6,160                  4.04427918
Sale             1,610                  4.05619025
Sale             105                    4.05
Sale             62                     3.66
Sale             1,610                  4.05619025
Sale             6,160                  4.04427918
Sale             2,151                  4.03900527
Sale             300                    4.055
Sale             10,162                 3.8473 USD
Sale             800                    4.48
Sale             5,100                  5
Sale             1,300                  4.02461538
Sale             3,500                  4.51935714
Sale             244                    3.6600 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          3                  5         AMER           16/05/2009   0.82
Call            Purchase          20                 7.5       AMER           22/08/2009   0.7
Call            Purchase          50                 7.5       AMER           22/08/2009   0.7
Call            Purchase          105                5         AMER           21/02/2009   0.3
Call            Selling           1                  5         AMER           21/02/2009   0.3
Call            Selling           8                  5         AMER           16/01/2010   1.45
Call            Selling           8                  7.5       AMER           16/01/2010   0.9
Call            Selling           18                 5         AMER           16/01/2010   1.45
Put             Purchase          1                  7.5       AMER           16/01/2010   4.2
Put             Selling           1                  5         AMER           21/02/2009   1.4

(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                         21 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   -11                    15.0000          AMER           21/02/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   1                      20.0000          AMER           16/05/2009
Option            Purchased   -2                     7.5000           AMER           22/08/2009
Option            Purchased   -2                     5.0000           AMER           16/01/2010
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -2                     17.5000          AMER           16/05/2009
Option            Purchased   -4                     2.5000           AMER           21/02/2009
Option            Purchased   -4                     12.5000          AMER           16/05/2009
Option            Purchased   -4                     10.0000          AMER           16/01/2010
Option            Purchased   -7                     12.5000          AMER           16/05/2009
Option            Purchased   -8                     7.5000           AMER           16/01/2010
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   7                      30.0000          AMER           16/05/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   7                      40.0000          AMER           21/02/2009
Option            Purchased   -12                    10.0000          AMER           16/05/2009
Option            Purchased   -16                    25.0000          AMER           16/05/2009
Option            Purchased   -16                    15.0000          AMER           16/05/2009
Option            Purchased   -20                    5.0000           AMER           21/02/2009
Option            Purchased   -20                    2.5000           AMER           16/05/2009
Option            Purchased   -20                    2.5000           AMER           21/02/2009
Option            Purchased   -25                    30.0000          AMER           16/05/2009
Option            Purchased   -31                    10.0000          AMER           21/02/2009
Option            Purchased   -34                    5.0000           AMER           16/01/2010
Option            Purchased   -37                    10.0000          AMER           22/08/2009
Option            Purchased   -56                    20.0000          AMER           21/02/2009
Option            Purchased   -56                    10.0000          AMER           16/05/2009
Option            Purchased   -187                   30.0000          AMER           21/02/2009
Option            Purchased   -10                    25.0000          AMER           21/02/2009
Option            Purchased   37                     35.0000          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   448                    15.0000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   156                    5.0000           AMER           21/02/2009
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   91                     7.5000           AMER           16/05/2009
Option            Purchased   70                     7.5000           AMER           16/05/2009
Option            Purchased   6                      7.5000           AMER           16/01/2010
Option            Purchased   45                     7.5000           AMER           21/02/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
Option            Purchased   31                     2.5000           AMER           16/01/2010
Option            Purchased   27                     15.0000          AMER           16/05/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   22                     5.0000           AMER           22/08/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   15                     2.5000           AMER           16/05/2009
Option            Purchased   12                     5.0000           AMER           16/05/2009
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   10                     7.5000           AMER           21/02/2009
Option            Purchased   10                     2.5000           AMER           22/08/2009
Option            Purchased   8                      5.0000           AMER           16/05/2009
Option            Purchased   8                      2.5000           AMER           22/08/2009
Option            Purchased   8                      17.5000          AMER           21/02/2009
Option            Purchased   68                     2.5000           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