RNS Number:2549R
Property Acquisition & ManagementLd
23 October 2003


PROPERTY ACQUISITION AND MANAGEMENT LIMITED (the "Company")

Investment Policy

In anticipation of impending changes to the Listing Rules, the Board announces
that the Company's policy is not to invest in any other listed investment
companies (including listed investment trusts).


Enquiries
Collins Stewart Fund Management Limited
Tel 44 1481 731987


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