RNS Number:2098C
Channel Hotels & Properties Limited
8 October 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               150,000
% of issued class                  26%
Class of Security                  Ordinary shares of 10 pence each
Date of transaction                7th October 2002
Total holding following
notification                       13,286,547
Total % holding following
notification                       23.073%

I further confirm that this company is not acting in concert with any other
company.


From: G.C.B. Melvin
      Director
      Channel Hotels & Properties Ltd.



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

END

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