SHH Safe Harbour Holdings Plc

RNS No 8904v
SCOTTISH HIGHLAND HOTELS PLC
3 September 1999


               PARAMOUNT HOTELS INVESTMENTS LIMITED

        Recommended offer for Scottish Highland Hotels plc
                                 


On  18  August  1999,  the board of Paramount  Hotels  Investments
Limited ("Paramount Hotels Investments") announced the terms of  a
recommended cash offer, to be made by Apax Partners & Co.  Capital
Limited on behalf of Paramount Hotels Investments, to acquire  the
entire  issued,  and  to  be  issued, share  capital  of  Scottish
Highland Hotels plc ("Scottish Highland").

On  posting  of  the  offer,  Paramount  Hotels  Investments  held
irrevocable  undertakings  relating to,  in  aggregate,  5,557,880
Scottish  Highland shares (representing 19.02  per  cent.  of  the
issued share capital of Scottish Highland).

By  3.00  p.m.  London time on 2 September 1999, Paramount  Hotels
Investments  had received valid acceptances from  the  holders  of
6,221,327  Scottish Highland shares (representing 21.29 per  cent.
of the 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, therefore, Paramount Hotels Investments now owns,  or
has  received undertakings to accept the Offer in respect  of,  in
aggregate,  14,959,990  shares in Scottish Highland,  representing
51.19 per cent. of the issued share capital of Scottish Highland.

The  offer  will remain open for acceptance until further  notice.
The  first  closing date of the offer is 8 September  1999.  Terms
defined  in the original offer document dated 18 August 1999  have
the same meaning in this press release 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.

END

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