PAH Platform Acq.

RNS No 5375k
PROPERTY ASSET HOLDINGS PLC
5th June 1998


PROPERTY ASSET HOLDINGS PLC

Companies Act 1985 Sections 198 and 199

Property Asset Holdings plc was today notified that GRE Holdings (Australia)
Limited, a subsidiary company of Guardian Royal Exchange has sold 2,833,333
ordinary shares of 0.1p each in Property Asset Holdings on 4th June 1998.

The holdings of Guardian Royal Exchange plc and its subsidiary companies in
Property Asset Holdings plc are now:

Bruton Nominees Limited   -   5,000,000
Guardian Pensions Management Limited   -   1,166,667

A total holding of 6,166,667 ordinary shares of 0.1p each representing 4.52%
of the issue of this class of Share.

Copies of this announcement are available for a period of 14 days from today
from Charles Stanley & Co. Ltd., 25 Luke Street, London EC2A 4AR.


END

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