Rule 8 - Gresham Hotel Group

RNS Number:8485Z
Israel Discount Bank Ltd
16 June 2004


The following replaces the announcement released at 16.09 RNS No 8399Z. The
first heading in Box number 2 should state Amount Bought not Amount Received
Free as previously stated.   All other information remains unchanged.  The full
amended text appears below.

                                                                   FORM  8.1/8.3



                             IRISH  TAKEOVER  PANEL

Lodge with the Stock Exchange (which may publicise) and with the Panel.
Use separate form for each class of securities in which dealings have
been made.

                                              Date of disclosure:        16/6/04


DISCLOSURE UNDER RULE 8.1(a), 8.1(b)(i) and 8.3 OF THE IRISH TAKEOVER PANEL ACT,
1997, TAKEOVER RULES, 2001


Date of Settlement:        11 - 14/6/04

Dealing in:                     Gresham Hotel Group plc


(1)        Class of Securities:        Ordinary Shares

(2)        Amount Bought             Amount Sold                 Price Per Unit

1.                  550,000                                               1.28

(3)                total of the same class owned or controlled * (and percentage
of class) 8,730,564  10.98%

(4)
(4)       Party making disclosure: Israel Discount Bank Ltd on behalf
                                   of Whiterain International Ltd


(5)                EITHER   (a) Name of purchaser/vendor (Note 1)

OR

(b) If dealing for discretionary client(s), name of Fund Management
Organisation:

Whiterain International Ltd According to the company's information shares are
bought for Chairai Balrau)


 (6)       Reason for disclosure (Note 2)

            (a)   (i)  offeror or associate of offeror (Note 3)           No

                 (ii)  offeree or associate of offeree                    No

Specify which category or categories of associate ((a) to (i) page 3/4):

If category (I), explain:

(b)        Rule 8.3 (ie. disclosure because of ownership or control of 1% or
more of the class of relevant securities dealt in)        Yes

  Information in part 5&6 has been provided by the company Whiterain
International Ltd and under its sole responsibility


Signed, for and on behalf of the party named in (4) above

Israel Discount Bank Ltd, Tel Aviv

Euror Avi

972 -3 - 5145747


*  The calculation is based on total of shares issued, 79,488,030 this figure
was given to us by Liz Kenny, Gresham Hotel Group plc, Company Secretary


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



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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