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               19 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      11,193,686      4.20%    1,051,915       0.40%
securities
(2) Derivatives    1,227,088      0.46%      232,534       0.09%
(other than
options)
(3) Options and            0      0.00%            0       0.00%
agreements to
purchase/sell
Total             12,420,774      4.66%     1,284,449      0.48%


(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      1,200                6.4161
Purchase      600                  6.6961
Purchase      2,600                6.4420
Purchase      5,071                6.6799
Purchase      2,102                6.5531
Purchase      69,775               6.5644
Sale          32,907               6.7050
Sale          85,870               6.6695
Sale          16,928               6.7038
Sale          20                   6.4545
Sale          1,125                6.7037
Sale          18,699               6.6461
Sale          1,222                6.4138
Sale          39,200               6.6591
Sale          5,600                6.4348
Sale          400                  6.4539
Sale          900                  6.4500

(b)  Derivatives transactions (other than options)
Product name,  Long/Short    Number of     Price per
(e.g. CFD)     (Note 6)      Securities    unit (GBP)
CFD            Short         1200          6.4161
CFD            Short         2600          6.4419
CFD            Short         9645          6.5256
CFD            Short         10535         6.5332
CFD            Short         2102          6.5531
CFD            Short         69775         6.5644
CFD            Short         3009          6.576
CFD            Short         5071          6.6798
CFD            Short         600           6.6961
CFD            Long          1222          6.4137
CFD            Long          5600          6.4348
CFD            Long          900           6.45
CFD            Long          400           6.4539
CFD            Long          20            6.4545
CFD            Long          13688         6.6386
CFD            Long          18699         6.6461
CFD            Long          39200         6.6591
CFD            Long          72182         6.6753
CFD            Long          1125          6.7037
CFD            Long          16928         6.7038

(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                         20 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