Director Shareholding

Quintain Estates & Development PLC
21 March 2003

Quintain Estates and Development PLC ('Quintain') -

Directors' Interests in Shares

On 21 March 2003 Adrian Roger Wyatt, Chief Executive of Quintain, and Zoe Wyatt
(his spouse) exercised unapproved options under the Quintain Services Limited
Unapproved Share Option Plan over 924,401 ordinary 25p shares in Quintain as
follows:

Number of shares                                                  Option Price

Adrian Roger Wyatt:
732,673                                                            £1.515
98,060                                                             £1.632



Zoe Wyatt:
51,471                                                              £1.36
33,004                                                             £1.515
9,193                                                              £1.632



On exercise the shares were immediately sold at a price of £2.22 per share.

The share interests in Quintain of Adrian Wyatt will be unchanged at 2,021,936
representing 1.6% of the total issued share capital in the Company.

On 21 March 2003, the trustees of the Quintain Group Employee Benefit Trust
acquired by subscription, at a price of £2.22 per share, a total of 924,401
ordinary shares of 25p each in Quintain, all of which have been used to satisfy
options exercised under Quintain Services Limited 2003 Unapproved Share Option
Plan. As potential beneficiaries under the Trust, each executive director of
Quintain is treated as being interested in all shares acquired by the Trust.

Accordingly application has been made to the UK Listing Authority for these
shares to be admitted to the Official List, and to the London Stock Exchange for
these shares to be admitted to trading. The shares rank pari passu with the
existing shares of Quintain.



Name of contact and telephone number for queries:


        Charlotte Eastwood, Company Secretary,

        Telephone [phone]

Date of Notification:      21 March 2003


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