Rule 8.3 - THE PENINSULAR AND ORIENTAL STEAM NA...

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              THE PENINSULAR AND ORIENTAL STEAM
                              NAVIGATION COMPANY PLC
Class of relevant security    ORD GBP 1.00
to which the dealings being
disclosed relate (Note 2)
Date of dealing               09 DECEMBER 2005

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     29,107,906   (3.87%)        126,800   (0.02%)
securities
(2) Derivatives     126,800   (0.02%)          8,600   (0.00%)
(other than
options)
(3) Options and           0   (0.00%)            150   (0.00%)
agreements to
purchase/sell
Total            29,234,706   (3.89%)        135,550   (0.02%)



(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:
5.5%
concessionary
redeemable non-
cumulative
preferred
                  Number                    Number
                                   (%)                       (%)
(1)  Relevant      4,850       (0.01%)
securities

(2)  Derivatives
(other   than
options)

(3) Options and
agreements to
purchase/sell

Total              4,850       (0.01%)


(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      969                  4.9100
Purchase      2,159                Transfer
Purchase      5,122                Transfer
Purchase      3,827                Transfer
Purchase      5,613                4.7959
Purchase      6,600                4.7859
Purchase      12,615               4.7900
Purchase      10,000               4.7825
Sale          20,297               4.7535
Sale          2,159                Transfer
Sale          5,122                Transfer
Sale          277                  4.8386
Sale          11,997               4.7545
Sale          29,608               4.7825
Sale          1,833                4.7502
Sale          1,255                4.7630
Sale          1,250                4.7752
Sale          1,275                4.7855
Sale          750                  4.8226
Sale          2,000                4.7875
Sale          750                  4.7502
Sale          250                  4.7502
Sale          700                  4.7650
Sale          7,500                4.7502
Sale          2,008                4.7802
Sale          500                  4.7752
Sale          750                  4.7502
Sale          500                  4.7502
Sale          750                  4.7502
Sale          471                  4.7752
Sale          6,000                4.7677
Sale          1,000                4.7752
Sale          2,000                4.7502
Sale          250                  4.7502
Sale          1,000                4.7752
Sale          6,000                4.7502
Sale          1,600                4.7500
Sale          500                  4.7502
Sale          1,600                4.7630
Sale          2,000                4.7752
Sale          250                  4.7502
Sale          2,950                4.7752
Sale          750                  4.7502
Sale          500                  4.7502
Sale          2,000                4.8410
Sale          600                  4.8226
Sale          4,000                4.7502
Sale          1,750                4.7502
Sale          2,500                4.7502
Sale          500                  4.7502
Sale          7,500                4.7502
Sale          550                  4.7855
Sale          1,500                4.7502
Sale          750                  4.7502
Sale          600                  4.7630
Sale          500                  4.7502
Sale          1,400                4.7630
Sale          1,000                4.7502
Sale          5,000                4.7502
Sale          1,750                4.7502
Sale          652                  4.7752
Sale          1,500                4.7502
Sale          1,000                4.7502
Sale          1,305                4.7675
Sale          1,390                4.7855
Sale          2,000                4.7650
Sale          1,100                4.7752
Sale          325                  4.7875
Sale          1,750                4.7502
Sale          650                  4.7630
Sale          1,400                4.7630
Sale          750                  4.8175
Sale          1,200                4.7855
Sale          750                  4.7502
Sale          750                  4.8525
Sale          1,750                4.7502
Sale          1,000                4.7502
Sale          500                  4.7502
Sale          1,000                4.7650
Sale          500                  4.7502
Sale          2,000                4.8051
Sale          850                  4.7752
Sale          1,500                4.7502
Sale          2,500                4.7502
Sale          2,000                4.7502
Sale          500                  4.7502
Sale          2,500                4.7502
Sale          750                  4.7502
Sale          1,000                4.7700
Sale          1,000                4.7650
 Sale          1,250                 4.8051


  (b)  Derivatives transactions
 (other than options)

 Product     Long/Short    Number of Securities Price Per
 name,       (Note 6)      (Note 7)             Unit (GBP)
 e.g. CFD
 CFD         Short         6,600                4.7859


  (c)  Options transactions in
 respect of existing securities

 (i)  Writing, selling, purchasing
 or varying

 Product    Writing,    Number of   Exerc  Type,      Expi Option
 name,      selling,    securities  ise    e.g.       ry   money
 e.g. call  purchasing  to which    price  American,  date paid/recei
 option     , varying   the option         European        ved per
            etc.        relates            etc.            unit (Note
                        (Note 7)                           5)


 (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

 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                         12 DECEMBER 2005
 Contact name                               BARCLAYS CORPORATE SECRETARIAT
 Telephone number                           0207 116 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