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               03 March 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      10,697,330      4.02%    1,166,107       0.44%
securities
(2) Derivatives    1,218,449      0.46%      203,441       0.08%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             11,915,779      4.47%     1,369,548      0.51%


(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      1,473                6.3862
Purchase      2,673                6.4550
Purchase      393                  6.4056
Purchase      742                  6.3886
Purchase      15,715               6.3991
Purchase      18,880               6.3849
Purchase      569                  6.4011
Purchase      25,150               6.4055
Purchase      6,717                6.3713
Sale          9,950                6.3759
Sale          2,600                6.3773
Sale          8,472                6.3374
Sale          6,710                6.3846
Sale          2,673                6.4551
Sale          1,178                6.4044
Sale          4,100                6.3538
Sale          2,000                6.3894
Sale          18,880               6.3849
Sale          4,000                6.3578
Sale          2,332                6.4444
Sale          14,142               6.3773
Sale          2,673                6.4550
Sale          18,880               6.3849
Sale          3,546                6.3850
Sale          779                  6.3850

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         6717          6.3713
CFD            Short         47652         6.3849
CFD            Short         1473          6.3862
CFD            Short         742           6.3886
CFD            Short         15715         6.3991
CFD            Short         569           6.4011
CFD            Short         14070         6.4022
CFD            Short         25150         6.4055
CFD            Short         393           6.4056
CFD            Long          8472          6.3373
CFD            Long          4100          6.3538
CFD            Long          4000          6.3577
CFD            Long          9950          6.3759
CFD            Long          6710          6.3845
CFD            Long          18880         6.3848
CFD            Long          2000          6.3894
CFD            Long          3428          6.3908
CFD            Long          1178          6.4043
CFD            Long          2332          6.4443

(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
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.


None

Is a Supplemental Form 8 attached? (Note 9)                 NO


Date of disclosure                         04 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