Appointment

Quintain Estates & Development PLC 27 June 2001 27 June 2001 Quintain Estates and Development PLC ('Quintain' / the 'Company') QUINTAIN STRENGTHENS EXECUTIVE BOARD Quintain is pleased to announce that Michael Riley will be joining the Board as an Executive Director on 1 August 2001. He is currently Joint Managing Director of HVB Real Estate Capital Ltd, the UK's largest specialist property lender with over £6 billion under management. Michael joined Hypovereinsbank in March 1997. Prior to that, he was Managing Director of Chesterton International's Property Finance arm, a company he joined in 1989. Michael began his career in property in 1986, when he joined Hillier Parker's graduate training scheme. Michael is 40 years old. Commenting on the appointment, Nigel Ellis, Chairman of Quintain, said, 'We are delighted that Michael has agreed to join the Board. He has significant experience of property transactions and excellent financing capabilities and we are confident that we will benefit greatly from his skills as we continue to manage our assets according to their financial characteristics, rather than by their sector or locational focus.' Quintain is also pleased to announce enhancements to the roles of two existing Board Directors. Nicholas Shattock, formerly the Director responsible for the Group's special projects, becomes Property Director, responsible for investment and development of the Group's main portfolio and special projects, including Oxford Street and Meridian Delta. In addition, following the announcement of the formation of Quintain's new structured finance division, the board is also delighted to name Edward Dugdale as the Director of Q3P. For further information, please contact:- Quintain Financial Dynamics Adrian Wyatt/Rebecca Worthington Stephanie Highett/Dido Laurimore Tel : 020 7495 8968 Tel : 020 7831 3113

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