Holding in Company

Quintain Estates & Development PLC
15 October 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)   ( N/A %) of issued Class

-

7)   Number of shares/amount of stock disposed

6,702,752

8)   (5.27%) of issued Class

9)   Class of security

ORDINARY SHARES

10)  Date of transaction



11)  Date company informed



12)  Total holding following this notification

7,318,923 SHARES
               
13)  Total percentage holding of issued class following this notification

5.76%

14)  Any additional information

(PLEASE SEE LETTER BELOW FOR MORE 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   15 OCTOBER 2001




LETTER TO QUINTAIN ESTATES & DEVELOPMENT PLC - DATED 12 OCTOBER 2001

QUINTAIN ESTATES & DEVELOPMENT PLC (THE 'COMPANY') - SEDOL 0718444

This notification supersedes our previous notification to you dated 1 June 2001 
and is prompted by sales totalling 3,626,000 on 11 October 2001.

This notification relates to issued ordinary shares of GBP0.25 each in the 
capital of the Company (the 'shares') and is given in fulfilment of the 
obligations imposed by sections 198 to 202 of the Companies Act 1985 (the 
'Act').

1.    Notification on behalf of Morley Fund Management Limited (a subsidiary of 
      CGNU plc).

1.1   We hereby notify you on behalf of Morley Fund Management Limited that     
      immediately after the time when the obligation to make this notification  
      arose Morley Fund Management Limited were interested in 7,318,923 shares.

1.2   The identity of the registered holders of the shares to which this        
      notification relates and the number of shares held by each of them are set
      out in the Appendix below; Morley Fund Management Limited.

2.    Notification on behalf of CGNU plc.

2.1   We hereby notify you on behalf of CGNU plc that immediately after the time
      when the obligation to make this notification arose CGNU plc were         
      interested in 7,318,923 shares giving the CGNU group a total percentage   
      interest in the shares of 5.76%.

2.2   The identity of the registered holders of the shares to which this        
      notification relates and the number of shares held by each of them are set
      out in the Appendix below: CGNU plc.

LETTER FOR AND ON BEHALF OF CGNU PLC


Quintain Estates & Development plc                        12 October 2001

APPENDIX: MORLEY FUND MANAGEMENT LIMITED 

REGISTERED HOLDERS                           NUMBER OF SHARES HELD
BNY Norwich Union Nominees Ltd                    2,899,521          (Material) 
Chase GA Group Nominees Ltd                       2,941,791          (Material) 
CUIM Nominee Ltd                                  1,477,611          (Material)

TOTAL PERCENTAGE INTEREST OF MORLEY FUND MANAGEMENT LIMITED: 5.76% 
ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 127,147,082



Quintain Estates & Development plc                        12 October 2001 

APPENDIX: CGNU PLC 

REGISTERED HOLDERS                           NUMBER OF SHARES HELD

BNY Norwich Union Nominees Ltd                       2,899,521       (Material)
Chase GA Group Nominees Ltd                          2,941,791       (Material)
CUIM Nominee Ltd                                     1,477,611       (Material)

TOTAL PERCENTAGE INTEREST OF CGNU PLC: 5.76% 
ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 127,147,082