Re Greenwich Peninsula

Quintain Estates & Development PLC
19 June 2003

19 June 2003



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

                            MAYOR OF LONDON ENDORSES
                    GREENWICH PENINSULA PLANNING APPLICATION

The board of Quintain confirms that the Mayor of London, Ken Livingstone, has
written to the London Borough of Greenwich, signalling his approval of Meridian
Delta Limited's planning application for the comprehensive regeneration of the
Greenwich Peninsula.

Meridian Delta ('MDL') is the consortium comprising Quintain Estates and
Development and Lend Lease, whose holdings are 49% and 51% respectively.

The board of Quintain is pleased that the Mayor has stated his support for MDL's
planning application and clarified his position with regard to the mix and range
of housing on the Peninsula.

The Mayor's decision was based on his agreement to MDL's proposed assignation of
extra residential units as 'affordable' (thereby bringing the total percentage
of affordable housing on the Peninsula to 38%) and he is now content to allow
the London Borough of Greenwich to finalise the detail relating to the
application.  The Company views this decision, combined with the London Borough
of Greenwich's unanimous resolution to grant (announced to shareholders on 17
April 2003), as a significant step forward and the speed with which these
approvals have been achieved means that this major regeneration project remains
firmly on track.

Working in conjunction with the London Borough of Greenwich, English
Partnerships and the Anschutz Entertainment Group, MDL will continue to resolve
the remaining issues of the detailed planning obligations (Section 106
agreements) as part of the normal planning process.  It is expected that these
agreements with London Borough of Greenwich will be signed in Autumn 2003.



                                     -ends-



For further information, please contact:


Quintain
020 7495 8968
Nick Shattock/Rebecca Worthington

Financial Dynamics
020 7831 3113
Stephanie Highett/Dido Laurimore


Notes to Editors

The planning application submitted by Meridian Delta Limited, English
Partnerships and Anschutz Entertainment Group in December 2002 incorporated
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.

These proposals include the development of 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.


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