Rule 8.3- Quintain Estates

Caledonia Investments PLC
20 July 2007



                                                                        FORM 8.3

    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
                        (Rule 8.3 of the Takeover Code)


1.         KEY INFORMATION

Name of person dealing  (Note 1)               Caledonia Investments plc

Company dealt in                               Quintain Estates & Development PLC

Class of relevant security to which the        Ordinary Shares 0.25p
dealings being disclosed relate (Note 2)

Date of dealing                                19 July 2007


2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

(a)        Interests and short positions (following dealing) in the class of
relevant security dealt in (Note 3)

                                                       Long                     Short
                                               Number         (%)       Number            (%)

(1) Relevant securities                        9,957,871   (7.7%)

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total                                          9,957,871   (7.7%)


(b)        Interests and short positions in relevant securities of the company,
other than the class dealt in (Note 3)


Class of relevant security:                            Long                     Short
                                               Number         (%)       Number            (%)

(1) Relevant securities

(2) Derivatives (other than options)

(3) Options and agreements to purchase/sell

Total





(c)        Rights to subscribe (Note 3)


Class of relevant security:                    Details





3.         DEALINGS (Note 4)

(a)        Purchases and sales

Purchase/sale                          Number of securities                  Price per unit (Note 5)

Purchase                               8,237 (0.0%)                          923.9368 pence





(b)        Derivatives transactions (other than options)

Product name,         Long/short (Note 6)       Number of securities (Note 7)        Price per unit (Note 5)
e.g. CFD







(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product name,         Writing, selling, Number of securities  Exercise   Type, e.g.      Expiry     Option money
                        purchasing,     to which the option   price      American,       date       paid/received per
e.g. call option      varying etc.      relates (Note 7)                 European etc.              unit (Note 5)
                                                                                                    





(ii)        Exercising


Product name, e.g. call option         Number of securities                  Exercise price per unit (Note 5)






(d)        Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)         Details                               Price per unit (if applicable) (Note 5)







4.         OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives


Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating
to the voting rights of any relevant securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.




Is a Supplemental Form 8 attached? (Note 9)                       YES/NO


Date of disclosure                                                20 July 2007

Contact name                                                      Graeme Denison

Telephone number                                                  020 7802 8080

If a connected EFM, name of offeree/offeror with which connected  n/a

If a connected EFM, state nature of connection (Note 10)          n/a




Notes

The Notes on Form 8.3 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk






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