THO Thistle Hotels

RNS No 3917r
THISTLE HOTELS PLC
9th November 1998


NOT FOR RELEASE INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN

                              Thistle Hotels Plc

    Capital reorganisation effective and commencement of redemption period

Following shareholders' approval on 5 November, 1998 for the return of capital
to  shareholders by way of a bonus issue of B redeemable preference shares ("B
Shares") and a 50 for 57 consolidation of Existing Ordinary Shares of 20 pence
each   into   New   Ordinary  Shares  of  224/5  pence  each   (the   "Capital
Reorganisation"),  the  New  Ordinary Shares and  B  Shares  have  today  been
admitted to the Official List of the London Stock Exchange.  Accordingly,  the
Capital Reorganisation has become effective.

Where  Existing Ordinary Shares were held in certificated form,  New  Ordinary
Share  certificates and B Share certificates are expected to be despatched  to
relevant  shareholders by 13 November, 1998.  Where Existing  Ordinary  Shares
are held within CREST, relevant CREST accounts are expected to be credited  by
13 November, 1998.

Cheques in respect of the proceeds of sale of fractional entitlements  to  New
Ordinary  Shares are, where Existing Ordinary Shares are held in  certificated
form,  expected to be despatched to shareholders by 13 November, 1998.   Where
Existing  Ordinary  Shares  are held in CREST,  relevant  CREST  accounts  are
expected to be credited by 13 November, 1998.

In accordance with the timetable set out in the circular to shareholders dated
7  October, 1998, the redemption period commences today and will close at 4.30
p.m.  on 4 December, 1998.  During this period, shareholders may elect to have
their  B  Shares redeemed by the Company at their nominal value  of  15  pence
each.

By  the  close  of business on 6 November, 1998, Initial Redemption  Forms  in
respect of 586,094,975 B Shares representing 94.9 per cent. of the B Shares in
issue  had been  received and not withdrawn.  These B Shares will be redeemed 
today  and the  redemption  proceeds will be despatched to shareholders or 
the  relevant CREST accounts will be credited, as the case may be, by 13
November, 1998.

Shareholders  who  wish to redeem their B Shares and who  did  not  submit  an
Initial  Redemption Form or who have elected on their Initial Redemption  Form
to have only part of their holding of B Shares redeemed, should either (in the
case of shares held in certificated form) return the completed redemption form
printed  on  the reverse of their B Share certificate so as to be received  by
4.30  p.m.  on 4 December, 1998, or (in the case of shares held within  CREST)
effect  the appropriate CREST redemption instruction so as to settle  by  4.30
p.m. on 4 December, 1998.

All B Shares redeemed will be cancelled and will not be reissued.
                                       
Enquiries:

Hartley Sutcliffe/Graham Howden   Thistle Hotels Plc            0113 243 9111

Simon Borrows/Brian Cassin        Greenhill & Co.               0171 440 0400

Jeremy South                      BT Alex.Brown International   0171 885 2500

Nick Denton                       Hogarth Partnership Limited   0171 357 9477


END

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