PAQ Paq Intl

RNS Number:4543C
Channel Hotels & Properties Limited
14 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               1,000,000 
% of issued class                  1.736% 
Class of Security                  Ordinary shares of 10 pence each      
Date of transaction                14th October 2002 
Total holding following 
notification                       17,586,547 
plus notional value of  
convertible shares expressed  
as ordinary shares                 549,699

Total % combined holding of
Ordinary shares and notional  
value of convertible shares 
following this notification        27.338% 

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


Letter 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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