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Scottish Highland (SHH)

Scottish Highland

Offer Wholly Unconditionl,etc
SCOTTISH HIGHLANDS HOTEL PLC
9 September 1999

                                                     
PARAMOUNT  HOTELS  INVESTMENTS  LIMITED  ('PARAMOUNT   HOTELS
INVESTMENTS') OFFER (THE 'OFFER') FOR THE ENTIRE ISSUED  AND
TO  BE ISSUED SHARE CAPITAL OF SCOTTISH HIGHLAND HOTELS  PLC
('SCOTTISH HIGHLAND') DECLARED WHOLLY UNCONDITIONAL

The   Board  of  Paramount  Hotels  Investments,  a   company
controlled   by   Alchemy  Partners,  announces   that   the
Recommended  Offer  made  by Apax  Partners  &  Co.  Capital
Limited  on  behalf of Paramount Hotels Investments  for  the
entire  issued  and to be issued ordinary share  capital  of
Scottish Highland has been declared wholly unconditional.

By  3.00pm London time on 8 September 1999, being the  first
closing  date of the Offer, Paramount Hotels Investments  had
received  valid acceptances from the holders  of  17,732,876
Scottish  Highland Shares (representing approximately  60.67
per  cent. of the existing issued share capital of  Scottish
Highland).

In  addition, on 18 August 1999, Paramount Hotels Investments
acquired  8,738,663  Scottish Highland  Shares  representing
29.90  per  cent.  of the issued share capital  of  Scottish
Highland at 130p per share.

Accordingly,  Paramount Hotels Investments now owns,  or  has
received  acceptances in respect of in aggregate  26,471,539
Scottish Highland Shares representing 90.57 per cent. of the
issued share capital of Scottish Highland.

The   total   number   of  acceptances   received   included
acceptances in respect of 5,557,880 Scottish Highland Shares
(representing 19.02 per cent. of the issued share capital of
Scottish  Highland)  which were the subject  of  irrevocable
undertakings to accept the Offer.

The  Offer  will  remain open for acceptance  until  further
notice.  Terms defined in the original offer document  dated
18  August  1999 have the same meaning in this  announcement
unless the context requires otherwise.

Apax  Partners,  which is regulated by  The  Securities  and
Futures  Authority Limited, is acting for  Paramount  Hotels
and  Paramount  Hotels  Investments  and  no  one  else   in
connection with the Offer for Scottish Highland and will not
be  responsible  to anyone other than Paramount  Hotels  and
Paramount  Hotels Investments for providing the  protections
afforded  to  their  customers or for  providing  advice  in
relation to the Offer.


Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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