Holding in Company

Quintain Estates & Development PLC
22 February 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     QUINTAIN ESTATES AND DEVELOPMENT PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     CGNU PLC

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     NOTIFICATION IS IN RESPECT OF THE SHAREHOLDER MENTIONED IN (2) ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     MORLEY FUND MANAGEMENT LIMITED (SUBSIDIARY OF CGNU PLC)

5)   Number of shares/amount of stock acquired.

     -

6)   ( - %) of issued Class

7)   Number of shares/amount of stock disposed



8)   ( - %) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction



11)  Date company informed

     20.02.2001

12)  Total holding following this notification

     11,603,208 MATERIAL INTEREST
               
13)  Total percentage holding of issued class following this notification

     9.03%

14)  Any additional information



15)  Name of contact and telephone number for queries

     SUSAN MINOCHA
     020 7495 8968

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification  21 FEBRUARY 2001