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               16 April 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       9,775,131      3.67%      748,153       0.28%
securities
(2) Derivatives      800,192      0.30%      357,533       0.13%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             10,575,323      3.97%     1,105,686      0.42%

(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      43,645               6.1050
Purchase      20,004               6.1090
Purchase      34,509               6.1363
Purchase      27,475               6.1009
Purchase      103,182              6.0988
Purchase      100,863              6.1076
Purchase      20,259               6.1039
Purchase      6,850                6.1152
Sale          5,400                6.0911
Sale          800                  6.0740
Sale          96,950               6.1070
Sale          4,180                6.1682
Sale          3,100                6.0650
Sale          14,016               6.1153
Sale          4,991                6.0650
Sale          4,800                6.1000
Sale          9,300                6.0395

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Long          9300          6.0395
CFD            Long          3100          6.065
CFD            Long          800           6.074
CFD            Long          5400          6.091
CFD            Long          96950         6.107
CFD            Long          14016         6.1153
CFD            Long          4180          6.1681
CFD            Short         4400          6.0894
CFD            Short         103182        6.0988
CFD            Short         27475         6.1009
CFD            Short         20259         6.1038
CFD            Short         43645         6.105
CFD            Short         100863        6.1076
CFD            Short         20004         6.1089
CFD            Short         6850          6.1152
CFD            Short         34509         6.1363

(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                         17 April 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