Holding in Company

Quintain Estates & Development PLC
4 September 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.

     -

6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     191 985

8)   (0.15%) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction



11)  Date company informed

     04/09/2001

12)  Total holding following this notification

     4,955,349
               
13)  Total percentage holding of issued class following this notification

     3.88%

14)  Any additional information

     PHILLIPS & DREW LIFE LTD IS A SUBSIDIARY OF UBS ASSET MANAGEMENT (NO. 2)   
     LTD, 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 ....04 SEPTEMBER 2001.......



                        Total Issued Share Capital - 127,797,082

Name                                                                   Quantity

PHILDREW NOMINEES LIMITED          A/C LF09                             501,674

PHILDREW NOMINEES LIMITED          A/C LF20                           4,453,675 

                                                                      4,955,349
                                                                                
                                                                           3.88%