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Scottish Highland (SHH)

Scottish Highland

Offer Acceptances, etc.
SCOTTISH HIGHLAND HOTELS PLC
16 September 1999

           
 PARAMOUNT HOTELS INVESTMENTS LIMITED ('PARAMOUNT') LEVEL OF
 ACCEPTANCE OF THE RECOMMENDED CASH OFFER ('THE OFFER') FOR
         THE ENTIRE ISSUED ORDINARY SHARE CAPITAL OF
     SCOTTISH HIGHLAND HOTELS PLC ('SCOTTISH HIGHLAND')

By  3.00 pm London time on 8 September 1999, being the first
closing  date  of  the Offer, Paramount  Hotels  Investments
Limited  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 Hotels plc).

In  addition, on 18 August 1999 Paramount 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  Board of Paramount Hotels Investments Limited announces
that,  having obtained acceptances for over ninety per cent.
of  the  share  capital  of Scottish  Highland  Hotels  plc,
Paramount   Hotels   Investments   Limited   will    acquire
compulsorily all of the Scottish Highland Shares  for  which
it  has not yet received valid acceptances in respect of the
Offer.

In accordance with sections 428 to 430F of the Companies Act
1985  (the 'Act') Paramount Hotels Investments Limited  have
served notices pursuant to section 429(4) of the Act on  the
holders of Scottish Highland Shares for which it has not yet
received acceptances of the Offer.

The  Offer  will  remain open for acceptance  until  further
notice.  Terms defined in the offer document dated 1  August
1999 have the same meaning in this press release unless  the
context otherwise requires.

Prior  to  the commencement of the offer period on  22  June
1999,  save  as  disclosed  in the offer  document,  neither
Paramount  Hotels Investments Limited nor any person  acting
in  concert with it owned any Scottish Highland  Shares  (or
rights over such shares) nor since that date (other than  as
disclosed above) has Paramount Hotels Investments Limited or
any  person acting in concert with it acquired or agreed  to
acquire  any Scottish Highland  Shares (or rights over  such
shares).

This  announcement,  which  is the  sole  responsibility  of
Paramount  Hotels Investments Limited, has been approved  by
Apax  Partners & Co. Capital Limited solely for the  purpose
of  Section  57  of the Financial Services Act  1986.   Apax
Partners  &  Co. Capital Limited which is regulated  by  The
Securities  and  Futures Authority Limited,  is  acting  for
Paramount  Hotels  Investments Limited and  no-one  else  in
connection  with  the Offer and will not be responsible  for
anyone  other than Paramount Hotels Investments Limited  for
providing the protections afforded to its customers nor  for
providing advice in relation to the Offer.

Enquiries:

Paramount Hotels Investments Limited           0113 238 0033
Michael Purtill
Ian Goulding

Alchemy  Partners                              0171 240 9596
Martin Bolland

Apax  Partners & Co. Capital Limited           0161 831 9133
Richard Hughes

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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