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               13 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      11,478,528      4.31%      717,792       0.27%
securities
(2) Derivatives    1,060,323      0.40%      102,240       0.04%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             12,538,851      4.71%      820,032       0.31%


(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      4,800                6.3306
Purchase      1,183                6.3562
Purchase      19,977               6.3196
Purchase      6,104                6.3455
Purchase      23,891               6.3305
Purchase      59,555               6.3372
Purchase      50,605               6.3486
Purchase      44,285               6.3339
Purchase      52,261               6.3388
Purchase      475                  6.3250
Purchase      5,585                6.3769
Purchase      10,644               6.3233
Sale          27,176               6.3545
Sale          2,526                6.3550
Sale          31,185               6.3104
Sale          3,916                6.3634
Sale          1,502                6.3320
Sale          26,611               6.3581
Sale          15,651               6.3492

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         19977         6.3196
CFD            Short         10644         6.3233
CFD            Short         475           6.325
CFD            Short         23891         6.3305
CFD            Short         4800          6.3306
CFD            Short         44285         6.3338
CFD            Short         59555         6.3372
CFD            Short         42184         6.338
CFD            Short         52261         6.3387
CFD            Short         50605         6.3486
CFD            Short         1183          6.3562
CFD            Short         5585          6.3768
CFD            Long          4505          6.298
CFD            Long          31185         6.3103
CFD            Long          1502          6.3319
CFD            Long          8153          6.3479
CFD            Long          15651         6.3492
CFD            Long          19023         6.3573
CFD            Long          26611         6.3581
CFD            Long          3916          6.3634


(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                         14 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