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               21 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      11,360,749     5.31%      334,167       0.16%
securities
(2) Derivatives        7,400     0.00%
(other than
options)
(3) Options and        6,188     0.00%          867        0.00%
agreements to
purchase/sell
Total             11,374,337     5.31%      335,034        0.16%

(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         8,062                  3.8617 USD
Purchase         1,500                  4.0800
Purchase         830                    3.6630 USD
Purchase         300                    4.1600
Purchase         2,500                  4.0900
Purchase         400                    3.9000
Purchase         4,425                  4.1600 USD
Purchase         6,933                  4.1600 USD
Purchase         1,000                  4.0855
Purchase         1,100                  3.9034
Purchase         100                    3.8710
Purchase         830                    3.6630 USD
Purchase         8,062                  3.8617 USD
Purchase         2,402                  4.0066
Purchase         16,969                 3.9799 USD
Purchase         72,009                 3.9053 USD
Purchase         72,009                 3.9053 USD
Purchase         1,012                  3.9420
Purchase         200                    4.0270
Purchase         53,857                 4.8750
Purchase         1,900                  4.1600
Purchase         500                    3.9460
Purchase         42                     3.9500
Purchase         42                     3.9500
Purchase         300                    3.9000
Purchase         200                    4.0270
Purchase         1,800                  3.9561
Purchase         600                    3.9158
Purchase         183                    3.8750
Purchase         410                    3.9188
Purchase         2,700                  3.9594
Purchase         100                    3.9100
Purchase         66                     3.9700
Purchase         968                    4.0114
Purchase         100                    3.9700
Purchase         1,040                  3.9060
Purchase         476                    4.1600 USD
Purchase         522                    4.1600 USD
Purchase         729                    3.9004 USD
Purchase         746                    3.9799 USD
Purchase         300                    3.9550
Purchase         729                    4.1600 USD
Purchase         632                    3.9799 USD
Purchase         173                    4.0607
Sale             452                    4.1600 USD
Sale             5,771                  3.6600 USD
Sale             42                     3.9500
Sale             830                    3.6630 USD
Sale             4,482                  4.1600 USD
Sale             165                    4.1600 USD
Sale             53,857                 4.8800
Sale             339                    4.1600 USD
Sale             244                    4.1600 USD
Sale             565                    4.1600 USD
Sale             1,827                  4.1600 USD
Sale             55,878                 4.1723 USD
Sale             440                    4.1600 USD
Sale             1,528                  4.1600 USD
Sale             729                    4.1600 USD
Sale             220                    4.1600 USD
Sale             900                    3.9689
Sale             1,200                  3.9007
Sale             183                    3.8750
Sale             968                    4.0114
Sale             100                    3.8710
Sale             300                    3.9550
Sale             110                    3.9500
Sale             200                    3.9300
Sale             1,287                  3.9387
Sale             868                    4.0585
Sale             200                    3.9060
Sale             200                    3.8850
Sale             173                    4.0607
Sale             2,700                  3.9594
Sale             42                     3.9500
Sale             1,140                  3.9063
Sale             100                    3.9100
Sale             500                    3.9050
Sale             300                    4.1600
Sale             56,600                 12.5000
Sale             76                     4.1600
Sale             5,000                  4.1000
Sale             108                    4.1600 USD
Sale             400                    3.9000
Sale             300                    4.0533
Sale             200                    4.0270
Sale             100                    4.0900
Sale             200                    4.0270
Sale             1,307                  4.0800
Sale             100                    3.9700
Sale             568                    4.0407
Sale             100                    4.0700
Sale             564                    4.0900
Sale             300                    3.9000
Sale             166                    3.9700

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Long          400           3.9025

(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           16/05/2009   0.5
Call            Purchase          2                  5         AMER           21/02/2009   0.25
Call            Purchase          5                  5         AMER           21/02/2009   0.25
Call            Selling           2                  5         AMER           21/02/2009   0.25
Call            Selling           4                  5         AMER           21/02/2009   0.3
Call            Selling           5                  5         AMER           21/02/2009   0.25
Put             Purchase          1                  5         AMER           22/08/2009   2.1
Put             Selling           8                  5         AMER           16/05/2009   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                         22 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   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   -8                     5.0000           AMER           16/05/2009
Option            Purchased   -10                    40.0000          AMER           21/02/2009
Option            Purchased   -252                   17.5000          AMER           21/02/2009
Option            Purchased   -11                    22.5000          AMER           21/02/2009
Option            Purchased   6                      7.5000           AMER           16/01/2010
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   27                     15.0000          AMER           16/05/2009
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   448                    15.0000          AMER           21/02/2009
Option            Purchased   436                    7.5000           AMER           21/02/2009
Option            Purchased   152                    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   68                     2.5000           AMER           16/01/2010
Option            Purchased   45                     7.5000           AMER           21/02/2009
Option            Purchased   1                      5.0000           AMER           21/03/2009
Option            Purchased   10                     7.5000           AMER           21/02/2009
Option            Purchased   1,920                  17.5000          AMER           21/02/2009
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   8                      2.5000           AMER           22/08/2009
Option            Purchased   37                     35.0000          AMER           21/02/2009
Option            Purchased   10                     2.5000           AMER           22/08/2009
Option            Purchased   31                     2.5000           AMER           16/01/2010
Option            Purchased   11                     30.0000          AMER           21/02/2009
Option            Purchased   15                     2.5000           AMER           16/05/2009
Option            Purchased   22                     20.0000          AMER           16/05/2009
Option            Purchased   22                     5.0000           AMER           22/08/2009
Option            Purchased   24                     15.0000          AMER           21/02/2009
Option            Purchased   1                      5.0000           AMER           22/08/2009
Option            Purchased   8                      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