Rule 8.3 - PUNCH TAVERNS

FORM 8.3

    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              PUNCH TAVERNS
Class of relevant security    ORD SHS GBP0.0004786
to which the dealings being
disclosed relate (Note 2)
Date of dealing               29 February 2008

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      10,727,933      4.03%    1,353,563       0.51%
securities
(2) Derivatives    1,268,258      0.48%      206,889       0.08%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             11,996,191      4.50%     1,560,452      0.59%


(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      2,326                6.4550
Purchase      10,195               6.4944
Purchase      16,102               6.5035
Purchase      5,706                6.5312
Purchase      4,505                6.4550
Purchase      3,993                6.4550
Purchase      2,958                6.4550
Purchase      1,722                6.4639
Purchase      423                  6.4550
Purchase      13,614               6.6140
Purchase      5,296                6.4495
Purchase      9,075                6.4550
Purchase      847                  6.4550
Purchase      373                  6.4550
Sale          145,075              6.4753
Sale          17,516               6.5128
Sale          2,961                6.4889
Sale          72,712               6.4713
Sale          16,314               6.4754
Sale          24,894               6.4438
Sale          30,188               6.4962
Sale          4,366                6.4550
Sale          7,181                6.4879
Sale          20,859               6.4747
Sale          1,200                6.4726
Sale          4,997                6.4566
Sale          6,400                6.4693
Sale          13,214               6.4747
Sale          1,659                6.4889
Sale          34,024               6.5049

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         5296          6.4495
CFD            Short         1722          6.4639
CFD            Short         51862         6.4747
CFD            Short         5547          6.4937
CFD            Short         10195         6.4943
CFD            Short         16102         6.5034
CFD            Short         5706          6.5312
CFD            Short         13614         6.6139
CFD            Long          24894         6.4437
CFD            Long          4997          6.4566
CFD            Long          6400          6.4693
CFD            Long          72712         6.4713
CFD            Long          1200          6.4726
CFD            Long          34073         6.4746
CFD            Long          16314         6.4754
CFD            Long          7181          6.4879
CFD            Long          12733         6.4945
CFD            Long          30188         6.4961
CFD            Long          34024         6.5048
CFD            Long          4783          6.5614


(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)


(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)                 NO


Date of disclosure                         03 March 2008
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