RNS Number:1907T
Property Acquisition & ManagementLd
12 December 2003

As a result of the scrip dividend issue on 12 December 2003, the following
director received new Ordinary Shares of 10p each and declare their interest in
the issued share capital of the Company as follows:-


Director               Scrip shares received           Total holding

Shane Le Prevost                         966                  31,172



The issue price of the scrip dividend shares was 62.5p.



Date Company Informed 12 December 2003




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