GCH Green China

RNS No 5320e
GOLF CLUB HOLDINGS PLC
16 July 1999


GOLF CLUB HOLDINGS PLC (the "Company")

Golf Club Holdings Plc has issued 950,057 5p ordinary shares at
a price of 34.5p per share to the holders of preference shares
in the Company in lieu of preference dividends, amounting to
#327,770.  The holders of preference shares entitled to a
further 549,826 5p ordinary shares (#189,690) in lieu of
dividend have deferred receipt for the time being.

The holders of preferences shares have accepted the entitlement
to 5p ordinary shares in full settlement of their right to
preference dividends for the period ended 30 June 1999.  

Admission of the new 5p ordinary shares to trading on AIM is
expected to commence on 21 July 1999.


Contact:

Martin Knight, Chairman       0171 491 4652 or 0860 553 455


16 July 1999

END

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