RNS Number:1909C
Property Acquisition & ManagementLd
20 August 2004


Property Acquisition and Management

Following the announcement earlier today by Armworth House Limited that its
recommended cash offer for Property Acquisition and Management Limited is now
unconditional in all respects the Board have today declared a special dividend
of 4p per Ordinary Share

This dividend comprises the Special Dividend described in the offer document
dated 13 August 2004.

Property Acquisition and Management Limited

Security Title                                             Ordinary Shares
Mnemonic Code                                              PAQ
Sedol Code                                                 665-001
Dividend Amount                                            4.0p
Ex Date                                                    25-08-04
Record Date                                                10-08-04
Payment Date                                               01-09-04


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