Golf Club Holdings - Re Leasing Agreement, etc.

RNS No 3274v
GOLF CLUB HOLDINGS PLC
30 July 1999

GOLF CLUB HOLDINGS PLC ("GCH" or "the Company")

The Board of Golf Club Holdings PLC ("GCH") is pleased to
announce that it has today entered into a  lease to rent, for
#64,000 p.a., land and buildings of Penkridge Golf Club
("Penkridge") until 31st December 2002.  The lessor, Clarendon
House Limited Retirement Benefit Scheme  ("CHLRBS"), has granted
GCH an option to buy the freehold of the property at any time up
to 30th November 2002 for a maximum price of #975,000.   As
consideration for the granting of this option, GCH is issuing to
CHLRBS 800,000 new ordinary shares at 31.5p, the mid market
price prevailing at noon today.  Trading of the new ordinary
shares is expected to commence on 6 August 1999.

One of the beneficiaries of CHLRBS is Hugh Dixon, a director of
GCH.

Penkridge, which will be renamed The Chase Golf Club, is close
to Cannock in Staffordshire.  It comprises a maturing 18-hole
golf course, which has been open for over 2 years, a 20 bay golf
range and a part completed clubhouse.  GCH will be fitting out
the clubhouse.  There are already over 300 members.

Penkridge is the seventh golf club in the GCH portfolio and the
second addition this year by GCH.  Wickham Park Golf Club,
purchased in May 1999, is performing ahead of expectations.

For further information contact:

Martin Knight, Chairman       0171 491 4652 or 0860 553 455


END

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