RNS Number:1394F
Property Acquisition & ManagementLd
16 December 2002

Property Acquisition and Management Limited

Share Buy Back

Property Acquisition and Management Limited announces that on 13 December 2002
it purchased 352,000 Convertible Redeemable Preference shares for cancellation
at 84p per share



Following the above buy back 10,593,262 Convertible Redeemable Preference shares
remain in issue

Enquiries:

Andrew Duquemin

Collins Stewart Fund Management Limited

01481 731 987


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

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