RNS No 3480r
GOLF CLUB HOLDINGS PLC
30th November 1998



GOLF CLUB HOLDINGS PLC

Following the circular to shareholders dated 25 September 1998,
and subsequent announcement dated 21 October 1998, Golf Club
Holdings Plc are pleased to announce that the approval has now
been granted from the High Court for the reduction of capital.


Accordingly, the accumulated deficit on the Company's profit and
loss account has been eliminated and the Company is now legally
in a position to declare future dividends. 



For further information contact:


Martin Knight, Chairman       0171 491 4652 or 0860 553 455




END

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