Re Greenwich Peninsula

Quintain Estates & Development PLC
24 February 2004

24 February 2004



               QUINTAIN ESTATES AND DEVELOPMENT PLC ('Quintain')



               Meridian Delta Limited secures planning permission

              for the regeneration of London's Greenwich Peninsula





Quintain is pleased to announce that Meridian Delta Limited ('MDL'), comprising
Quintain and its partner Lend Lease, has reached agreement with the London
Borough of Greenwich on its detailed planning obligations (the Section 106
agreement) and has received planning permission for the comprehensive
regeneration of London's Greenwich Peninsula, including the Dome.



The issuing of the planning permission and the settlement of the Section 106
within anticipated parameters allows Lend Lease and Quintain to move towards
finalising the commercial arrangements with English Partnerships, the national
regeneration agency which owns most of the land on the Peninsula.  These will be
secured in Quintain's new financial year, ensuring that the development process
remains on track and enabling MDL to begin infrastructure works in late 2004 and
MDL's partners, Anschutz Entertainment Group, to begin construction of the Arena
within the Dome in early 2005.



The London Borough of Greenwich has given its consent for the 20 year
regeneration of 190 acres of land, providing: 10,000 new homes, 340,000 sq m of
commercial space, 33,000 sq m of retail provision, new schools, new hotel,
transport improvements, public open space and parkland.  The development will
include a world-class 20,000 seat entertainment and sports arena, with a further
62,000 sq m of entertainment and leisure space within the Dome structure.  The
project will create a community of 25,000 residents and 24,000 new jobs.



Planning permission was secured by MDL in 14 months and the plans now have the
backing of the local authority, the Mayor of London and the UK Government.  It
will be one of the largest regeneration projects ever undertaken in the UK.



Nick Shattock, Quintain's Property Director, commented:



'The creation of a new town on the Greenwich Peninsula is a great responsibility
and the receipt of this permission is testament to the efforts of everyone
involved. The London Borough of Greenwich in particular has dealt with this
application in a thoroughly professional manner.



'We look forward to completing the final agreements with English Partnerships
over the next few months and would hope to be on site shortly thereafter.'





For further information, please contact:



Quintain
Nick Shattock
020 7495 8968



Financial Dynamics
Stephanie Highett/Dido Laurimore
020 7831 3113



Notes for Editors



The original planning application was submitted in late December 2002.  The
unanimous support of the London Borough of Greenwich Planning Board was secured
in April 2003, the agreement of the Mayor of London was given in June 2003 and
confirmation that the application would not be called in was received from
central Government in July 2003.



The development is being carried out by Meridian Delta Limited ('MDL'), a joint
venture company comprising Lend Lease (51%) and Quintain Estates and Development
plc (49%), which was formed specifically to lead the regeneration of the
Greenwich Peninsula and the Dome.  MDL secured an agreement with the  national
regeneration agency, English Partnerships, in May 2002 and has, in turn,
contracted with Anschutz Entertainment Group  - one of the world's leading live
entertainment companies - to fund, develop and operate a new world-class arena
inside the Dome.



Quintain owns 18.5 acres of land on the Greenwich Peninsula.


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