RNS Number:4219F
Property Acquisition & ManagementLd
20 December 2002



Property Acquisition and Management Limited

Share Buy Back

Property Acquisition and Management Limited announces that on 19 December 2002
it purchased 267,000 Convertible Redeemable Preference shares for cancellation
at 84p per share

Following the above buy back 9,728,262 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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