GCH Green China

RNS No 5282d
GOLF CLUB HOLDINGS PLC
24th April 1998


The directors of Golf Club Holdings Plc ("GCH") are pleased to
announce that they have agreed to purchase from DHC (Bradford)
Limited  ("DHC") the entire issued share capital of its
subsidiary, the Vale Royal Abbey Golf Club Limited ("VRA")
together with certain assets including the freehold of the golf
course, for a consideration of #2,150,000.

Vale Royal Abbey Golf Club, in Cheshire, will open in Autumn
1998, with 18 hole course, practice facilities and a superb club
house, reflecting current and prospective membership aspirations.

The consideration will be satisfied over two years.  The initial
payment is #860,000 cash and #215,000 in GCH shares to be issued
at the average share price prevailing between 20 April 1998 and
18 May 1998;  four subsequent payments of #268,750 will be made
each time a further 100 full members are added to the
membership.  The final instalment may be satisfied by the issue
of GCH shares at 4 pence each.

The value of the business and assets being acquired has been
valued now at approximately #1.4 million.  As the business has
not yet traded, there are no profits attributable to the net
assets.  There are no new proposed directors arising from the
transaction.

The directors believe that this acquisition will complement the
recent acquisition of The Vale Golf Club at Evesham, Batchworth
Golf Club at Rickmansworth and South Winchester Golf Club at
Winchester.

Commenting on the acquisition, Martin Knight, Chairman said "we
are delighted with the addition of a fifth golf club to GCH's
portfolio of quality members' clubs.  The Vale Royal is built on
150 acres of free-draining undulating parkland with water
features.  The club house is formed from the Grade II* great
house at Vale Royal Abbey which has been completely and
sensitively refurbished.  This acquisition represents another
step in the development of GCH into a solidly based, profitable
and growing business".

Martin Knight, Chairman       0171 491 4652 or 0860 553 455

Copies of this announcement will be available to the public free
of charge from the office of Grant Thornton, Grant Thornton
House, Melton Street, Euston Square, London NW1 2EP during
normal office hours, Saturdays, Sundays and bank holidays
excepted, for 14 days from today.


END

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