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               15 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      11,217,218      4.21%      989,720       0.37%
securities
(2) Derivatives    1,268,453      0.48%      190,935       0.07%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             12,485,671      4.69%     1,180,655      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      800                  6.4861
Purchase      64,332               6.4158
Purchase      5,378                6.4842
Purchase      1,237                6.4100
Purchase      25,813               6.3772
Purchase      3,889                6.3838
Sale          24,182               6.4089
Sale          10,074               6.4100
Sale          139,586              6.4302
Sale          54,269               6.3826
Sale          48,900               6.4235
Sale          36,450               6.4179
Sale          1,174                6.4088
Sale          458                  6.4493
Sale          624                  6.4455
Sale          13,630               6.4100
Sale          1,595                6.4189
Sale          8,142                6.3792
Sale          106                  6.3688

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         25813         6.3772
CFD            Short         3889          6.3838
CFD            Short         16696         6.4037
CFD            Short         32477         6.4065
CFD            Short         3990          6.4087
CFD            Short         64332         6.4158
CFD            Short         724           6.4218
CFD            Short         5378          6.4842
CFD            Short         800           6.4861
CFD            Long          106           6.3687
CFD            Long          8142          6.3791
CFD            Long          54269         6.3825
CFD            Long          1174          6.4087
CFD            Long          24182         6.4088
CFD            Long          36450         6.4179
CFD            Long          1595          6.4189
CFD            Long          48900         6.4234
CFD            Long          126112        6.4255
CFD            Long          624           6.4454
CFD            Long          458           6.4493
CFD            Long          13474         6.4742

(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                         18 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