Director Shareholding

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RNS Number:8745A
Property Acquisition & ManagementLd
15 July 2004

Property Acquisition and Management Limited (the "Company")



As a result of the scrip dividend issue on 15 July 2004, the following directors
received new Ordinary Shares of 10p each and declare their interests in the
issued share capital of the Company as follows:-


Director                          Scrip shares received      Total holding

Colin Walker-Robson                 3,078                          366,007
Shane Le Prevost                      724                           31,896



The issue price of the scrip dividend shares was 86.00p.



Date Company Informed 15 July 2004


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

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