We have performed shell-model calculations for nuclei with proton particles and neutron holes around 132 Sn using a realistic effective interaction derived from the CD-Bonn nucleon-nucleon potential. For the proton-neutron channel this is explicitly done in the particle-hole formalism. The calculated results are compared with the available experimental data, particular attention being focused on the proton particle-neutron hole multiplets. A very good agreement is obtained for all the four nuclei considered, 132 Sb, 130 Sb, 133 Te and 131 Sb. We predict many low-energy states which have no experimental counterpart. This may stimulate, and be helpful to, future experiments.