Holding in Company

Quintain Estates & Development PLC
2 May 2001


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)   NAME OF COMPANY

QUINTAIN ESTATES AND DEVELOPMENT PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

PHILLIPS & DREW LIFE LIMITED

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 INDICATES THAT IT IS IN RESPECT OF THE HOLDING OF THE SHAREHOLDER
NAMED 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.

PLEASE SEE SCHEDULE (BELOW)

5)   Number of shares/amount of stock acquired.

52,165 SHARES

6)   ( 0.04% ) 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

02/05/01

12)  Total holding following this notification

5,147,334 SHARES
               
              
13)  Total percentage holding of issued class following this notification

4.02%

14)  Any additional information

PHILLIPS & DREW LIFE LIMITED IS A SUBSIDIARY OF UBS ASSET MANAGEMENT (NO. 2)
LIMITED, WHICH IS ALSO TREATED AS HAVING AN INTEREST IN THE SHARES

15)  Name of contact and telephone number for queries

SUSAN MINOCHA
020 7496 8968

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


     Date of Notification       2 MAY 2001




                   Quintain Estates & Development Plc
                         
                 Total Issued Share Capital - 127,907,082

Name                                                             Quantity

PHILDREW NOMINEES LIMITED                A/C LF09                 466,959
                                                  


PHILDREW NOMINEES LIMITED                A/C LF20                4,680,375
                                                   

                                                                 5,147,334
         
                                                                     4.02%