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  (Note 1)           BARCLAYS PLC

Company dealt in                           THE PENINSULAR AND ORIENTAL STEAM NAVIGATION COMPANY PLC
Class of relevant security to which the    ORD GBP 1.00
dealings being disclosed relate (Note 2)
Date of dealing                            09 NOVEMBER 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 securities     32,413,876           (4.32%)           772,336              (0.10%)

(2) Derivatives (other                                             313,504              (0.04%)
than options)

(3) Options and agreements                                             150              (0.00%)
to purchase/sell

Total                       32,413,876           (4.32%)         1,085,990              (0.14%)


(b)  Interests and short positions in relevant securities of the company, other
     than the class dealt in (Note 3)

Class of relevant security:               Long                                   Short
5.5% concessionary
redeemable non-cumulative
preferred
                           Number                   (%)            Number                   (%)

(1) Relevant securities    5,450                (0.01%)

(2)   Derivatives (other
than options)

(3) Options and agreements
to purchase/sell

Total                      5,450                (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                         341,393                              4.3500
Purchase                         54,252                               4.3405
Purchase                         6,747                                4.3424
Sale                             29,022                               4.3325
Sale                             9,600                                4.3483
Sale                             5,542                                4.3350
Sale                             2,000                                4.3275
Sale                             350                                  4.3400
Sale                             2,250                                4.3400
Sale                             38,627                               Transfer


(b)  Derivatives transactions (other than options)

Product name,      Long/short (Note 6)      Number of securities (Note 7)     Price per unit (GBP)
e.g. CFD
CFD                Short                    341,393                           4.3500
CFD                Short                    54,252                            4.3405
CFD                Short                    6,747                             4.3424
CFD                Long                     29,022                            4.3325
CFD                Long                     9,600                             4.3483
CFD                Long                     5,542                             4.3350


(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. call option     Number of securities             Exercise price per unit (Note 5)


(d)  Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)          Details                         Price per unit (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                                           10 NOVEMBER 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