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               07 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      10,818,793      4.06%      914,915       0.34%
securities
(2) Derivatives      811,390      0.30%      289,835       0.11%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             11,630,183      4.37%    1,204,750       0.45%


(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      12,051               6.0650
Purchase      8,039                6.0148
Purchase      2,818                6.0591
Purchase      34,712               6.0341
Purchase      36,000               6.0462
Purchase      1,890                6.0466
Purchase      7,826                6.0650
Purchase      334                  5.9306
Sale          4,150                6.0638
Sale          4,052                6.0358
Sale          14,862               6.0641
Sale          20,000               6.0263
Sale          5,767                6.0358
Sale          12,280               5.9776
Sale          1,774                6.0672
Sale          9,125                5.9940
Sale          3,546                6.0650
Sale          360                  5.9596

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         334           5.9305
CFD            Short         8039          6.0148
CFD            Short         28569         6.0285
CFD            Short         1120          6.0287
CFD            Short         34712         6.0341
CFD            Short         36000         6.0461
CFD            Short         1890          6.0465
CFD            Short         2818          6.0591
CFD            Long          360           5.9595
CFD            Long          12280         5.9776
CFD            Long          9125          5.9939
CFD            Long          4150          6.0638
CFD            Long          14862         6.064
CFD            Long          1774          6.0672

(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                         10 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