A lattice model of a hetero-polymer with random hydrophilic-hydrophobic cha
rges interacting with the solvent is introduced, whose continuum counterpar
t has been proposed by Garel, Leibler and Orland [7]. The transfer matrix t
echnique is used to study various constrained annealed systems which approx
imate at various degrees of accuracy the original quenched model. For highl
y hydrophobic chains an ordinary theta-point transition is found from a hig
h temperature swollen phase to a low temperature compact phase. Depending o
n the type of constrained averages, at very low temperatures a swollen phas
e or a coexistence between compact and swollen phases are found. The result
s are carefully compared with the corresponding ones obtained in the contin
uum limit, and various improvements in the original calculations are discus
sed.