Re: Wembley

Quintain Estates & Development PLC
12 October 2004


12 October 2004


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

  QUINTAIN AND CAESARS JOIN FORCES TO CONTINUE WEMBLEY'S TRANSFORMATION INTO A
                        WORLD-CLASS LEISURE DESTINATION

The Board of Quintain announces that is has reached agreement with Caesars
Entertainment Inc. (NYSE: CZR) to form a 50/50 joint venture to develop Caesars
Wembley.  This entertainment resort will be located within the area of Wembley
that Quintain is transforming into an international leisure destination.

The joint venture, which is subject to planning and to the reform of the UK
Gambling laws, will operate a 650,000 sq ft facility at Wembley.  This will
comprise a world-class casino, a 400 room luxury hotel, convention and
performance space, a spa and swimming pool, designer shops and a wide variety of
restaurants, bars and lounges.

The development will constitute Stage II of Quintain's plan to transform Wembley
into a world-class leisure destination incorporating: Wembley Arena, the
internationally-renowned music and entertainment venue; designer shopping
outlets; a dedicated sports retail complex and one of the biggest multi-screen
cinemas in the UK.  Further retail and leisure facilities will include an array
of restaurants, cafes and bars, ten-pin bowling, a nightclub and public spaces
for performance and entertainment.

If the Gaming Bill is introduced into Parliament within the current
Parliamentary session, legislative changes could occur as early as Spring/Summer
2005, which would enable the planning application for this second phase to be
submitted.  A programme of consultation with the local community is being
developed to engage them in the next phase of the project.

Announcing the plans, Nick Shattock, Property Director of Quintain Estates and
Development, said:

'Wembley is recognised in the Mayor's London Plan as an international leisure
destination.  We are delighted to be working with Caesars, a leading global
brand.  Together, we are providing Wembley with another world-class facility in
one of the largest mixed-use urban regeneration schemes in the UK.'

                                   ENDS


For further information, please contact:

Quintain Estates and Development
Tel: [phone]
Nick Shattock/Rebecca Worthington

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

Notes to editors:

•        Quintain owns 58 acres of land surrounding Wembley Stadium.

•        In October 2003, Quintain submitted a planning application to Brent
Council for the first stage of the regeneration of Wembley - a £1.3 billion
regeneration scheme on 42 acres including the site of Wembley Arena and Wembley
Conference and Exhibition Centre.  These plans are for 3,700 homes, the creation
of 6,100 jobs and major new leisure and retail facilities and two new squares
for London with the size and mix of Covent Garden.  Quintain has now received
consent for the Stage I plans.

•        The new Stage II plans with Caesars Entertainment cover over 13 acres
of Quintain's landholding. It links directly to the Stage I plans to deliver for
London an international leisure destination.

•        In evidence to the Parliamentary Committee scrutinising the draft
legislation, the Greater London Authority specifically identified Wembley as the
model example for the possible location for gaming in London, as part of a broad
leisure offer delivering regeneration benefits.


                      This information is provided by RNS
            The company news service from the London Stock Exchange