Corporate Banking Facilities

Quintain Estates & Development PLC
06 July 2004


6 July 2004



         Quintain Estates and Development PLC ('Quintain' / 'Company')

               QUINTAIN AGREES £500M CORPORATE BANKING FACILITIES

Quintain announces the successful syndication and signing of a £475 million
corporate banking facility and two new bi-lateral banking facilities totalling
£25 million.  These will be used for general corporate purposes and will greatly
enhance the Company's liquidity and operational flexibility and provide a
competitive advantage in bidding for investment assets.

As announced on 21 June 2004 within Quintain's preliminary results announcement,
an initial £400m corporate banking facility was underwritten by Barclays, HBOS,
HSBC and Lloyds TSB.  The syndication was over-subscribed, providing funds of
£475 million.

The final list of participants is as follows:-

Participant                                          Participation
                                                     £ million

Barclays                                             75.0
HBOS                                                 75.0
HSBC                                                 75.0
Lloyds TSB                                           75.0
Helaba                                               50.0
Allied Irish Bank                                    25.0
Co-Op Bank                                           25.0
Danske Bank                                          25.0
Fortis                                               25.0
NordLB                                               25.0

TOTAL                                                475.0


The corporate facility is for 5 years, with possible one year extensions at the
end of the first and second years.  Of the £475 million, £125 million is a term
facility, with the remaining £350 million being revolving.  The margin is 0.95%.

The two bi-lateral facilities, totalling £25 million, comprise a £20 million
Liquidity Facility from HBOS and a £5 million Deferred Payment Guarantee from
HSBC.

All facilities have a floating charge and the drawings have initially been used
to replace Quintain's existing debt.

Rebecca Worthington, Quintain's Finance Director, commented:

'This re-financing is a powerful endorsement of Quintain's management by these
first-class banks and marks a significant change in our funding arrangements
from secured to corporate borrowing.  Most important, however, is that these new
facilities are expandable and will provide a robust platform for the next
exciting phase in the Company's growth.'


For further information, please contact:

Quintain                                        Financial Dynamics
Rebecca Worthington                             Stephanie Highett/Dido Laurimore
Tel: [phone]                              Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange