Purchase of Own Securities

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RNS Number:2505F
Property Acquisition & ManagementLd
17 December 2002


Property Acquisition and Management Limited


Share Buy Back

Property Acquisition and Management Limited announces that on 17 December 2002
it purchased 55,000 Convertible Redeemable Preference shares for cancellation at
84p per share

Following the above buy back 10,538,262 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
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