RNS Number:1377A
Channel Hotels & Properties Limited
19 August 2002


Letter to RNS

Under Rule 3 of the Rules Governing Substantial Acquisitions of shares I would 
like to notify you of the following transaction concerning a recent sale of 
shares in Property Acquisition & Management Limited.

Registered Owner                           Channel Hotels & Properties Ltd
No. of shares sold                         1,000,000
% of issued class                          9.14%
Class of Security                          Convertible Redeemable Preference 
                                           shares of 100 pence each
Date of transaction                        15th August 2002
Total holding following notification       132,124 
Total % holding following notification     1.21%
 
Letter from Barrie Melvin, Director, Channel Hotels and Properties Ltd.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

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