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               12 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      10,547,123      3.96%      898,144       0.34%
securities
(2) Derivatives      794,619      0.30%      273,972       0.10%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             11,341,742      4.26%     1,172,116      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      32,867               6.1113
Purchase      36,569               6.1050
Purchase      1,890                6.0165
Purchase      2,900                6.1450
Purchase      807                  6.1350
Purchase      6,606                6.1208
Purchase      4,608                6.0996
Purchase      44,997               6.1341
Purchase      1,000                6.1706
Purchase      12,182               6.0995
Purchase      1,881                6.0606
Sale          5,774                6.0891
Sale          842                  6.1050
Sale          2,071                6.0964
Sale          709                  6.1039
Sale          1,000                6.0690
Sale          5,610                6.0641
Sale          41,493               6.0709
Sale          2,100                6.1186
Sale          5,557                6.1027
Sale          57,161               6.0400

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         1881          6.0606
CFD            Short         8182          6.0885
CFD            Short         4608          6.0996
CFD            Short         48689         6.101
CFD            Short         32867         6.1112
CFD            Short         6606          6.1207
CFD            Short         4000          6.1218
CFD            Short         44997         6.1341
CFD            Short         807           6.135
CFD            Short         2900          6.145
CFD            Short         1000          6.1706
CFD            Long          5610          6.0641
CFD            Long          1000          6.069
CFD            Long          41493         6.0709
CFD            Long          5774          6.089
CFD            Long          2071          6.0964
CFD            Long          5557          6.1026
CFD            Long          709           6.1038
CFD            Long          2100          6.1185

(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                         13 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