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               11 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      10,523,133      3.95%      940,678       0.35%
securities
(2) Derivatives      837,153      0.31%      224,283       0.08%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             11,360,286      4.27%     1,164,961      0.44%


(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      1,665                6.0400
Purchase      11,419               6.0493
Purchase      30,699               6.0284
Purchase      700                  6.1360
Purchase      1,120                6.0289
Purchase      29,582               5.9550
Purchase      46,906               6.0678
Purchase      757                  6.0606
Purchase      15,963               6.0861
Purchase      281                  6.0400
Purchase      49,745               5.9784
Purchase      9,991                6.0577
Sale          30,699               6.0283
Sale          29,582               5.9550
Sale          4,163                6.0389
Sale          1,120                6.0288
Sale          29,582               5.9550
Sale          30,243               6.0702
Sale          25,760               6.0649
Sale          465                  6.0420
Sale          1,562                6.0403
Sale          1,200                6.0390
Sale          3,546                6.0400
Sale          686                  5.9712
Sale          1,182                6.0400
Sale          410                  6.0645
Sale          26,017               5.9917

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         11419         6.0493
CFD            Short         35642         6.0594
CFD            Short         757           6.0606
CFD            Short         46906         6.0678
CFD            Short         15963         6.086
CFD            Short         700           6.136
CFD            Long          26017         5.9917
CFD            Long          4163          6.0388
CFD            Long          1200          6.039
CFD            Long          410           6.0645
CFD            Long          25760         6.0649
CFD            Long          19902         6.0679
CFD            Long          10341         6.0746

(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                         12 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