RNS Number:8833N
Channel Hotels & Properties Limited
23 July 2003




Under Rule 3 of the Rules Governing Substantial Acquisitions of shares I would 
like to notify you of the following transaction concerning a recent purchase of 
shares in Tops Estates Plc.


Registered Owner                    Channel Hotels & Properties Ltd
No. of shares bought                 50,000
% of issued class                    0.11%
Class of Security                    Ordinary shares of 25 pence each
Date of transaction                  22nd July 2003
Total holding following
notification                         1,848.650
Total % holding following
notification                          4.09%




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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