ADSTEAM TO ACQUIRE 49 PCT OF U.K. PROPERTY COMPANY

  The Adelaide Steamship Co Ltd &lt;ADSA.S>
  (Adsteam) said it will subscribe to 30 mln shares in listed
  British property developer, &lt;Markheath Securities Plc>, at 60p
  each, subject to shareholder approval.
      The subscription, expected to take place in May, will give
  Adsteam 49 pct of Markheath, Adsteam said in a statement.
      Adsteam's managing director John Spalvins will become
  chairman of Markheath and two other Adsteam nominees will join
  its board. "We hope that in time Markheath will become a
  significant property and industrial company in the same style
  as Adsteam," Spalvins said in the statement.
  

