RNS Number:1560B
Channel Hotels & Properties Limited
13 September 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 purchase of
shares in Property Acquisition & Management Limited.

Registered Owner                               Channel Hotels & Properties Ltd
No. of shares bought                           100,000
% of issued class                              0.1736%
Class of Security                              Ordinary shares of 10 pence each
Date of transaction                            12th September 2002
Total holding following notification           10,436,547
Total % holding following notification         18.124%

From  D. R. Kirch
      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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