Director Shareholding

Quintain Estates & Development PLC
17 January 2005


17 January 2005

Quintain Estates and Development PLC ('Quintain') -
Directors' Interests in Shares

On 17 January 2005 Nicholas Shattock, a director of Quintain, exercised share
options under the Quintain Estates and Development 1996 Executive Share Option
(No.2) Scheme over a total of 88,633 ordinary 25p shares in Quintain, as
follows:

     Number of Options            Option Price (£)       Date of Grant

     39,604                       1.515                  February 1999
     49,029                       1.632                  May 1999

On exercise 79,532 shares were sold immediately at a price of £5.609977 per
share, which was sufficient to cover the costs of exercising all the options and
of acquiring the shares (including National Insurance and certain tax
liabilities).  The balance has been retained by Mr Shattock and reinvested in
Quintain stock.

He retains 452,220 options granted between 2000 and 2003 at prices ranging from
£1.553 to £2.87.   He also has been awarded, subject to the performance criteria
for each scheme being achieved, 500,000 nil cost and 24,179 25p share rights in
Quintain.

Following this transaction his total shareholding now stands at 242,962 being
0.188% of Quintain's current issued share capital.


Name of contacts and telephone number for queries:

Rebecca Worthington, Director
Telephone [phone]


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