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               03 FEBRUARY 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         27,462,505    (3.65%)     105,467     (0.01%)
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                27,567,972    (3.67%)     140,017     (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      6,000                Transfer
Purchase      6,212                5.4650
Purchase      589                  5.4875
Purchase      14,660               5.5000
Sale          2,800                5.4625
Sale          1,000                5.4625
Sale          600                  5.4701
Sale          400                  5.4751
Sale          1,900                5.4601
Sale          1,200                5.4826
Sale          1,120                5.4625
Sale          1,060                5.4625
Sale          4,650                5.4625
Sale          1,960                5.4625
Sale          133                  5.4701
Sale          1,500                5.4625
Sale          1,300                5.4625
Sale          1,773                5.4625
Sale          2,000                5.4625
Sale          625                  5.4601
Sale          900                  5.4701
Sale          1,000                5.4601
Sale          3,500                5.4625
Sale          3,600                5.4625
Sale          1,700                5.4625
Sale          1,000                5.4625
Sale          1,537                5.4625
Sale          589                  5.4825
Sale          14,660               5.5000



(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 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 (Note
                varying etc.      relates (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                         06 FEBRUARY 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