RNS Number:6943L
Property Acquisition & ManagementLd
29 May 2003

Collins Stewart Limited has notified the Company that with effect from 23 May
2003 Collins Stewart Limited and Collins Stewart (CI) Limited hold and control
4,370,889 ordinary shares in Property Acquisition and Management Limited on
behalf of discretionary clients of the two firms. This holding equates to 7.86%
of the issued share capital of that class.

Date Company informed: 29 May 2003


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