Re Greenwich Peninsula

Quintain Estates & Development PLC
17 April 2003


17 April 2003



         Quintain Estates and Development PLC ('Quintain' / 'Company')



 GREENWICH COUNCIL UNANIMOUSLY RESOLVES TO GRANT PLANNING CONSENT FOR GREENWICH
                                   PENINSULA



The board of Quintain announces that the London Borough of Greenwich last night
unanimously resolved to grant outline planning consent, subject to reserved
matters, to Meridian Delta Ltd ('MDL'), English Partnerships and Anschutz
Entertainment Group Europe ('AEG') for the comprehensive regeneration of the
Greenwich Peninsula.  Meridian Delta Limited is a consortium owned 49% by
Quintain and 51% by Lend Lease Europe.



This decision paves the way for further detailed discussion on those matters to
finalise the Section 106 requirements and other aspects of the detailed planning
agreements.  In addition, the application will shortly be reviewed by the
Greater London Authority.



MDL currently estimates that these negotiations will continue for some months.



The planning application submitted by MDL, English Partnerships and AEG in
December 2002 incorporates proposals to create a new urban community for
Greenwich and London covering 190 acres of the Greenwich Peninsula, of which
Quintain owns 18.5 acres.



The proposals include a new 26,000 capacity Arena within the Dome (which will
provide London with a new world-class entertainment and sporting facility);
10,000 new homes; 340,000 sqm of commercial space; 33,000 sqm of retail space;
new areas of public open space covering a quarter of the site; infrastructure
improvements and new community facilities.



Commenting on the decision, Nick Shattock, Quintain's Property Director, said:



'We are obviously pleased that the  London Borough of Greenwich has reached this
unanimous decision within  four months of submitting the planning application.
It will also mean that we remain on track to bring a major new urban community
to the Peninsula.'



For further information, please contact:



Quintain
Nick Shattock/ Rebecca Worthington
Tel: [phone]



Financial Dynamics
Stephanie Highett/Dido Laurimore
Tel: [phone]




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