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               11 JANUARY 2006

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         28,345,850    (3.77%)     113,957     (0.02%)
securities
(2) Derivatives         105,467    (0.01%)      34,400     (0.00%)
(other than
options)
(3) Options and               0    (0.00%)         150     (0.00%)
agreements to
purchase/sell
Total                28,451,317    (3.79%)     148,507     (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)
Sale          580                  4.5905
Sale          5,000                4.5876
Sale          1,005                4.6550
Sale          1,500                4.6550
Sale          1,750                4.5876
Sale          320                  4.6550
Sale          2,425                4.6550
Sale          2,160                4.6550
Sale          970                  4.6550
Sale          2,000                4.5876
Sale          1,150                4.5905
Sale          1,125                4.6550
Sale          770                  4.6550
Sale          1,000                4.5876
Sale          1,170                4.6550
Sale          2,627                4.6351
Sale          1,000                4.6550
Sale          1,500                4.6550
Sale          1,300                4.6851
Sale          1,030                4.6550
Sale          886                  4.5876
Sale          750                  4.5876
Sale          400                  4.5905
Sale          788                  4.6550
Sale          505                  4.6351
Sale          2,770                4.6550
Sale          1,300                4.6550
Sale          1,000                4.6550
Sale          753                  4.5905
Sale          1,500                4.5876
Sale          900                  4.5876
Sale          3,000                4.6550
Sale          1,500                4.6550
Sale          5,000                4.5876
Sale          14,850               4.5876
Sale          1,000                4.6726
Sale          2,500                4.6550
Sale          1,090                4.6550
Sale          990                  4.6550
Sale          2,000                4.5876
Sale          1,640                4.5876
Sale          1,000                4.6550
Sale          3,100                4.5905
Sale          2,560                4.6550
Sale          3,300                4.5905
Sale          1,183                4.5905
Sale          1,030                4.6550
Sale          1,800                4.6550
Sale          10,000               4.5876
Sale          755                  4.6550
Sale          417                  4.6351
Sale          1,570                4.5905
Sale          2,520                4.6351
Sale          1,840                4.6550
Sale          2,000                4.5876
Sale          1,000                4.6550
Sale          1,000                4.6550
Sale          425                  4.6751
Sale          1,400                4.6550
Sale          1,498                4.6550
Sale          1,260                4.6550
Sale          2,590                4.5876
Sale          5,085                4.6401
Sale          1,180                4.6550
Sale          1,405                4.6550
Sale          1,445                4.5905
Sale          1,600                4.5905
Sale          2,000                4.5876
Sale          190,945              4.9524

 (b)  Derivatives transactions
 (other than options)

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


 (c)  Options transactions in
 respect of existing securities

 (i)  Writing, selling, purchasing
 or varying

Product     Writing,     Number of    Exercise    Type,e.g.     Expiry   Option money
name,       selling,     securities   price       American,     date     paid/received
e.g. call   purchasing,  to which                 European               per unit (note 5)
option      varying      the option               etc.
            etc.         relates
                         (Note 7)

 (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 JANUARY 2006
 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