TNT Tintra Plc

RNS No 0495v
ST JAMES BEACH HOTELS PLC
22nd August 1997


 Not for release, publication or distribution in or into
     the United States, Canada, Australia or Japan.



                 RECOMMENDED CASH OFFER
       BY CLOSE BROTHERS CORPORATE FINANCE LIMITED
                      ON BEHALF OF
           ELEGANT HOTELS LIMITED ("ELEGANT")
                           FOR
     ST. JAMES BEACH HOTELS PLC ("ST. JAMES BEACH")
                            
      OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS

                            
Elegant announces that the recommended offer for the
entire issued share capital of St. James Beach made on
its behalf by Close Brothers Corporate Finance Limited
("Close Brothers") has been declared unconditional in all
respects.

By 11.00 am on 22 August 1997 valid acceptances of the
Offer had been received in respect of a total of
13,953,702 St. James Beach Shares representing
approximately 59.05 per cent. of St. James Beach's issued
share capital.

Prior to the commencement of the offer period on 13
August 1997, Elegant received irrevocable undertakings
from West Indies Builders (C.I.) Limited ("WIB")and one
of the directors of St. James Beach to accept the Offer
in respect of 14,001,864 St. James Beach Shares but did
not otherwise have any interest in any St. James Beach
shares. Since that date and other than as referred to
herein, neither Elegant nor any person acting in concert
with Elegant has acquired or agreed to acquire any St.
James Beach Shares (or rights over such shares).

Valid acceptances have been received in respect of all
the St. James Beach Shares subject to the undertaking
from WIB amounting to 13,953,702 St. James Beach Shares
and are included in the above total.

The first closing date of the Offer is 11 September 1997.
The procedure for acceptance of the Offer is set out in
the offer document dated 21 August 1997 ("Offer
Document") and the accompanying Form of Acceptance,
copies of which are available from the offices of Close
Brothers.  St. James Beach Shareholders who have not yet
accepted the Offer should despatch their Forms of
Acceptance (and supporting documents) as soon as
possible.

Cheques for the cash consideration due to accepting St.
James Beach Shareholders will be posted no later than 25
September 1997 in respect of acceptances received by
3:00pm on 11 September 1997, the first closing date of
the Offer, which are valid and complete in all respects
or within 14 days of the date of receipt of further
acceptances which are received whilst the Offer remains
open for acceptance and are valid and complete in all
respects.

Terms defined in the Offer Document dated 21 August 1997
have the same meaning in this press release unless the
context otherwise requires.

Close Brothers Corporate Finance Limited, which is
regulated by The Securities and Futures Authority
Limited, is acting for Elegant and no one else in
connection with the Offer and will not be responsible to
anyone other than Elegant for providing the protections
afforded to its customers nor for providing advice in
relation to the Offer.

Enquiries:

Elegant Hotels Limited   001 246 428 7131
Andrew Parker            

Close Brothers           0171 426 4000
Corporate Finance
David Pusinelli          

END

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