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                            06 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 securities            29,180,210  (3.89%)                      158,306  (0.02%)
(2) Derivatives (other                158,306  (0.02%)                        8,600  (0.00%)
than options)
(3) Options and agreements                  0  (0.00%)                          150  (0.00%)
to purchase/sell
Total                              29,338,516  (3.91%)                      167,056  (0.02%)



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

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

(1) Relevant securities       4,850               (0.01%)

(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                   6,208                                    Transfer
Purchase                   5,297                                    4.8659
Purchase                   9,900                                    4.8647
Sale                       2,000                                    4.6775
Sale                       600                                      4.6825
Sale                       2,500                                    4.6801
Sale                       720                                      4.6825
Sale                       500                                      4.6825
Sale                       900                                      4.6330
Sale                       945                                      4.6800
Sale                       1,576                                    4.7200
Sale                       1,825                                    4.7750
Sale                       2,600                                    4.6725
Sale                       330                                      4.6825
Sale                       665                                      4.6825
Sale                       4,000                                    4.7001
Sale                       1,100                                    4.6825
Sale                       1,000                                    4.7200
Sale                       746                                      4.6825
Sale                       1,000                                    4.7001
Sale                       2,000                                    4.6775
Sale                       3,350                                    4.6330
Sale                       1,800                                    4.6775
Sale                       1,000                                    4.6500
Sale                       2,400                                    4.6750
Sale                       1,500                                    4.6825
Sale                       1,300                                    4.6725
Sale                       800                                      4.6825
Sale                       5,013                                    4.6801
Sale                       750                                      4.7200
Sale                       1,000                                    4.6825
Sale                       580                                      4.6825
Sale                       1,800                                    4.7001
Sale                       800                                      4.6825
Sale                       470                                      4.6330
Sale                       380                                      4.6800
Sale                       5,013                                    4.6801
Sale                       800                                      4.6825
Sale                       10,000                                   4.6775
Sale                       350                                      4.7050
Sale                       1,000                                    4.6500
Sale                       500                                      4.7200
Sale                       700                                      4.6825
Sale                       1,300                                    4.6725
Sale                       5,014                                    4.6801
Sale                       1,000                                    4.6725
Sale                       580                                      4.6825
Sale                       500                                      4.6825
Sale                       3,000                                    4.6775
Sale                       650                                      4.6825
Sale                       1,850                                    4.6801
Sale                       1,000                                    4.6800
Sale                       1,000                                    4.7200
Sale                       700                                      4.6800
Sale                       5,000                                    4.7100
Sale                       1,000                                    4.6825
Sale                       1,200                                    4.6800
Sale                       690                                      4.7001
Sale                       2,000                                    4.6330
Sale                       2,000                                    4.6200
Sale                       700                                      4.6825
Sale                       850                                      4.6725
Sale                       850                                      4.6330
Sale                       420                                      4.6825
Sale                       620                                      4.6825
Sale                       470                                      4.6330
Sale                       990                                      4.6330
Sale                       2,389                                    4.6800
Sale                       2,425                                    4.6330
Sale                       1,500                                    4.6825
Sale                       1,000                                    4.6500
Sale                       1,700                                    4.6801
Sale                       5,600                                    4.6750
Sale                       1,250                                    4.6800
Sale                       3,000                                    4.7650
Sale                       5,000                                    4.6775
Sale                       1,600                                    4.6801
Sale                       650                                      4.6725
Sale                       695                                      4.6825
Sale                       2,000                                    4.7001
Sale                       1,800                                    4.6725
Sale                       880                                      4.6825
Sale                       2,000                                    4.7100
Sale                       3,000                                    4.6825
Sale                       1,100                                    4.6825
Sale                       3,000                                    4.7650




(b)  Derivatives transactions (other than options)

Product name, e.g. Long/Short (Note 6)      Number of Securities (Note 7)        Price Per Unit (GBP)
CFD
CFD                Short                    9,900                                4.8647




(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                                           07 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