THO Thistle Hotels

RNS No 9497w
THISTLE HOTELS PLC
20th November 1998


                              Thistle Hotels Plc

             Mandatory redemption of all outstanding redeemable B
                        preference shares ("B Shares")

On  9  November,  1998 Thistle Hotels Plc (the "Company") announced  that  the
return of capital to shareholders by way of a bonus issue of B Shares and  the
consolidation  of existing ordinary shares (the "Capital Reorganisation")  had
become effective.  The Company also announced that by 6 November, 1998 initial
redemption  forms  in respect of 586,094,975 B Shares, representing  94.9  per
cent. of the B Shares in issue, had been received and not withdrawn.  Those  B
Shares were redeemed on 9 November, 1998.

As the number of B Shares which remain outstanding represents less than 15 per
cent.  of  the  B  Shares issued pursuant to the Capital  Reorganisation,  the
Company  now intends to exercise its right in accordance with the Articles  of
Association  of the Company to redeem mandatorily the remaining  B  Shares  in
issue.

The redemption of the outstanding B Shares will take effect at 5.00 p.m. on  4
December,  1998.  The outstanding B Shares will be redeemed at  their  nominal
value  of  15 pence each.  The redemption proceeds will be despatched  to  all
holders  of the outstanding B Shares (on the register at the close of business
on  4 December, 1998), or the relevant CREST accounts will be credited (as the
case may be), by 10 December, 1998.  Accordingly, the latest time for dealings
in  B  Shares  will be 4.30 p.m. on 4 December, 1998 and B Share  certificates
will  cease to have any value after that time.  All B Shares redeemed will  be
cancelled and will not be reissued.

Holders  of  B Shares who have already submitted a completed redemption  form,
printed on the reverse of their B Share certificate, will have their B  Shares
redeemed  on 4 December, 1998 in accordance with their terms and the timetable
set out in the circular to shareholders dated 7 October, 1998 and need take no
further action.

Holders  of B Shares who have not submitted a completed redemption  form  need
take no action and their B Shares will be redeemed automatically on 4 December
1998.

Following  the mandatory redemption of the outstanding B Shares,  the  Company
will no longer have any B Shares in issue.
                                       
                                       
Enquiries:

Hartley Sutcliffe/Graham Howden   Thistle Hotels Plc           0113 243 9111

Simon Borrows/Brian Cassin        Greenhill & Co.              0171 440 0400

Jeremy South                      BT Alex.Brown International  0171 885 2500

Nick Denton                       Hogarth Partnership Limited  0171 357 9477


END

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