PAQ Paq Intl

RNS Number:5219C
Channel Hotels & Properties Limited
15 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               1,250,000
% of issued class                  2.171% 
Class of Security                  Ordinary shares of 10 pence each    
Date of transaction                15th October 2002 
Total holding following 
notification                       18,836,547 
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        29.223%


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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