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 February 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      11,307,730      4.25%      867,903       0.33%
securities
(2) Derivatives    1,252,618      0.47%       85,131       0.03%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             12,560,348      4.72%      953,034       0.36%


(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      1,237                6.4100
Purchase      5,969                6.1661
Purchase      346                  6.1606
Purchase      57,936               6.2259
Purchase      16,898               6.1225
Purchase      2,352                6.1950
Purchase      940                  6.1557
Purchase      19,743               6.2184
Purchase      2,400                6.2150
Purchase      12,885               6.1487
Purchase      500                  6.2150
Sale          14,131               6.2737
Sale          8,575                6.2169
Sale          8,077                6.2169
Sale          3,546                6.4100
Sale          58,343               6.3036
Sale          10,000               6.3800
Sale          22,597               6.2169
Sale          13,724               6.2381
Sale          47,527               6.2169
Sale          5,263                6.3294
Sale          1,180                6.4088
Sale          11,586               6.3739
Sale          52                   6.0938
Sale          15,408               6.2169

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         12885         6.1486
CFD            Short         940           6.1557
CFD            Short         346           6.1606
CFD            Short         5969          6.1661
CFD            Short         2352          6.195
CFD            Short         2900          6.215
CFD            Short         19743         6.2184
CFD            Short         18933         6.2215
CFD            Short         57936         6.2259
CFD            Long          52            6.0938
CFD            Long          13724         6.2381
CFD            Long          14131         6.2737
CFD            Long          41248         6.2982
CFD            Long          17095         6.3165
CFD            Long          5263          6.3293
CFD            Long          11586         6.3739
CFD            Long          1180          6.4087


(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                         13 February 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