RNS Number:5119J
Gresham Hotel Group Plc
01 April 2003


Gresham Hotel Group Plc

01 April 2003

Re: Holding in Company

A Letter from Euro Sea Hotels N.V. to the Irish Stock Exchange dated 31 March
2003, received by the Irish Stock Exchange on the 01 April 2003.




                              EURO SEA HOTELS N.V.

                               Hasselaersteeg 13
                               1012 MB Amsterdam
                                The Netherlands

                                 31 March 2003


Dear Sirs

Pursuant to Section 91 of the Companies Act 1990, we hereby give notice that as
of 31 March 2003, we have disposed of the following shares of Gresham Hotel
Group plc to Irish River Holdings B.V.:-


Class of Security                   No. of Shares                       Total No.
                                                                        of Shares in class

Ordinary Shares                     13,663,500                          79,041,102

Participating                       4,188,893                           4,200,000
Preference Shares


Details of the holding of Euro Sea Hotels N.V. and Irish River Holdings B.V. in
Gresham Hotel Group plc prior to this purchase and the shareholding of Irish
River Holdings B.V. after this purchase are set out in the schedule attached.

Details of the relationship between Irish River Holdings B.V. and Euro Sea
Hotels  N.V. are set out in the Second Schedule hereto


Yours faithfully

____________________

For and on behalf of
Euro Sea Hotels N.V.





                                   Schedule

                            Ordinary Shares            Participating Preference   Total Voting Shares
                                                       Shares

Total Share Capital         79,041,102                 4,200,000                  83,241,102
As at 31 March 2003

Euro Sea Hotel N.V.         13,663,500                 4,188,893                  17,852,393
holdings as
at 28 March 2003

Percentage held             17.28%                     99.74%                     21.45%

Irish River                 5,369,101                  0                          5,369,101
Holdings
B.V. holding as at 28 March
2003

Percentage held             6.79%                      0                          6.45%

Shares                      13,663,500                 4,188,893                  17,852,393
purchased
from
Euro Sea Hotels N.V. by
Irish River Holdings B.V.

Total                       19,032,601                 4,188,893                  23,221,494
held
on 31 March 2003 by Irish
River Holdings B.V.

Percentage                  24.08%                     99.74%                     27.90%
held as
at 31 March 2003

Percentage                  17.28%                     99.74%                     21.45%
purchased
on 31 March 2003



                                 Second Schedule


RED SEA HOTELS LIMITED

100%


RED SEA CLUB LIMITED

100%


SOUTHERN HOTEL HOLDINGS
& INVESTMENT ISRAEL B.V.

100%


EURO SEA HOTELS N.V.

100%


IRISH RIVER HOLDINGS B.V.




This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.






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