Holding(s) in Company

Quintain Estates & Development PLC
1 May 2002


                  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 LTD (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

     75,000

8)   (0.0584%) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction

     

11)  Date company informed

     01.05.2002

12)  Total holding following this notification

     3,834,779
               
13)  Total percentage holding of issued class following this notification

     2.99%

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 ...01.05.2002...........



LETTER TO: QUINTAIN ESTATES & DEVELOPMENT PLC
LETTER DATED 30 APRIL

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

This notification supersedes our previous notification to you dated 6 March 2002
and is prompted by sales totalling 75,000 on 29 April 2002.

This notification relates to issued ordinary shares of 25p 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   Morley Fund Management Limited no longer have a notifiable interest in the 
      shares.

2.    Notification on behalf of CGNU plc.

2.1   CGNU plc no longer have a notifiable interest in the shares.

We are only required to notify interests which are defined as material interests
when the holding is equal to 3% or more of the Company's relevant share capital.
The term material interests exclude certain categories where we do not hold a
beneficial interest, for example where the shares are held in an Authorised Unit
Trust Scheme or Open Ended investment Company. Holdings in those categories are
therefore not included in the holding notified under this letter. 

LETTER FROM: CGNU PLC



APPENDIX: MORLEY FUND MANAGEMENT LIMITED

REGISTERED HOLDER                          NUMBER OF SHARES HELD

BNY Norwich Union Nominees Ltd                  734,764   (Material) 

Chase GA Group Nominees Ltd                   2,247,791   (Material) 

CUIM Nominee Ltd                                852,224   (Material)


TOTAL PERCENTAGE INTEREST OF MORLEY FUND MANAGEMENT LIMITED: 2.99% 

ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 128,392,873



APPENDIX: CGNU PLC 

REGISTERED HOLDERS                         NUMBER OF SHARES HELD

BNY Norwich Union Nominees Ltd             734,764   (Material)

Chase GA Group Nominees Ltd              2,247,791   (Material)

CUIM Nominee Ltd                           852,224   (Material)


TOTAL PERCENTAGE INTEREST OF CGNU PLC: 2.99% 

ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 128,392,873




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