PAQ Paq Intl

RNS Number:5595L
Property Acquisition & ManagementLd
12 October 2001


PROPERTY ACQUISITION AND MANAGEMENT LIMITED


Property Acquisition and Management Limited (PAM) announces that it has
acquired a property portfolio with a value of #17.2 million through the
acquisition of two private investment companies.


The portfolio comprises 440,000 sq ft of high quality industrial and
commercial properties in South Wales and South West England and provides
further geographical diversification of PAM's property portfolio. Based on the
acquisition price, the rental income on the portfolio represents a yield in
excess of 10%


The purchase price has been funded through a combination of PAM's own
resources and the assumption of loans, already incurred by the companies


For further information ;

Roger Alcock

Property Acquisition and Management Limited                Tel 01481 731942



Colin Walker-Robson

Collins Stewart Property Fund Management Limited     Tel 01895 846464



Tom Allison/Dan de Belder

The Communication Group plc               Tel 0207 6301411

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