PAQ Paq Intl

RNS Number:4733B
Channel Hotels & Properties Limited
20 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                    1,500,000

% of issued class                       2.6%

Class of Security                       Ordinary shares of 10 pence each

Date of transaction                     17th & 20th September 2002

Total holding following notification    11,936,547

Total % holding following notification  20.73%


LETTER FROM:  CHANNEL HOTELS & PROPERTIES LTD

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

END
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