ananthaces,
Again, I think I'm missing something. It sounds like you have a planar plate lying in 2 dimensions (the x-y plane, perhaps), but that it was modeled as a solid, so your elements are bricks, not quads. If you are, in fact, attempting to create plate elements, then the plate would be a rectangle and the hole would be an interior circle (somewhat like ThomasH described). If you automesh this geometry, 2-D elements will be formed from the rectangle to the circle, but not inside the circle. You then define the thickness in your "property" that is tied to those elements. If you would prefer to turn them into bricks, you can copy the 2-D mesh remembering that you need at least 3 bricks through the thickness to get reasonable results.
Not sure if this rambling answered your question, but hopefully it helps.
Garland
Garland E. Borowski, PE