PAH Platform Acq.

RNS No 9290r
PROPERTY ASSET HOLDINGS PLC
5th October 1998


                           PROPERTY ASSET HOLDINGS                            
                                                                              
                 Partial Redemption of Convertible Loan Note                  

Property Asset Holdings Plc today announces that a partial redemption of the
#710,267 convertible loan note in issue has taken place.

#510,900 of the #710,267 loan note has been repaid in cash as of the 30
September 1998 redemption date. The balance of #199,367 of the loan note which
may now be redeemed on 30 September 2000 or on 30 September 2002 or converted
into ordinary shares at 6p or 8p per share respectively, remains in place.

Enquiries:

Property Asset Holdings Plc                            Tel: 0171 376 0550
David Payne, Chairman

END

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