Re. Wembley Arena

Quintain Estates & Development PLC
23 January 2006





23 January 2006





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

                       LIVE NATION TO MANAGE WEMBLEY ARENA




The board of Quintain is pleased to announce that its subsidiary, Wembley London
Limited, has signed a 15 year contract with Los Angeles-based promoter Live
Nation to take over the operational management of Wembley Arena. Live Nation
owns or operates 150 venues around the world and, in 2005, promoted over 20,000
events attended by 60 million people.



Wembley Arena will re-open in April 2006 after a £35 million refurbishment
programme. Every aspect of the venue has been improved, including the
realignment of the main entrance of the Arena onto the newly created Arena
Square, a £10 million public realm development.



Reservations for 175 nights have already been secured, with tickets for 37 shows
already on sale including Il Divo, Take That, Depeche Mode, Santana, Westlife
and Cliff Richard.



Nick Shattock, Quintain's Property Director, commented:



'The redevelopment of Wembley Arena will consolidate its position as one of the
most prestigious live entertainment venues in Europe.  By signing this
management agreement with Live Nation, one of the world's leading live content
and distribution companies, we are confident that Wembley will play host to
extremely high-quality shows, as demonstrated by the strong line-up already
secured.'



Michael Rapino, Chief Executive Officer of Live Nation, said:



'Wembley Arena is one of the great icons of international touring. We are
honoured to enter this long-standing partnership and look forward to offering
the most spectacular live entertainment experiences to British music fans.'



This announcement is further evidence of the momentum behind Quintain's 6.2
million sq ft regeneration project around the new Wembley Stadium. Live Nation
joins a list of commercial partners including Caesar's Entertainment for the
intended casino and Hilton, who will run a business-class hotel on the site.



Quintain is also pleased to report that planning consent has this week been
granted for the first of the residential apartment developments, due for
completion in 2007.



Nick Shattock added:



'Our plans for the regeneration of Wembley are now accelerating, as we begin to
see strong progress on the residential, leisure and Arena elements of the
overall scheme.'



                                     -ends-



For further information, please contact:



Quintain
Nick Shattock/Rebecca Worthington
Tel: [phone]



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





Notes to Editors



•       Quintain Estates and Development PLC is a leading property
investment and development company specialising in strategic property
acquisition, redevelopment and asset management across the UK.  It is currently
leading the regeneration of Wembley, with permission for a £2bn transformation
of the land surrounding Wembley stadium.  With Partners Lend Lease, Quintain is
also leading the £5bn regeneration of the Greenwich Peninsula.  The company is
listed in the FTSE 250.  www.quintain-estates.com



•       Live Nation is a leading live content and distribution company
focused on creating superior experiences for artists, performers, corporations
and fans.  Live Nation owns, operates or has booking rights for 150 venues
worldwide and promoted or produced over 20,000 events in 2005.   Live Nation is
headquartered in Los Angeles, California. Live Nation is listed on the New York
Stock Exchange, trading under the symbol 'LYV.' More information about Live
Nation and its businesses is available at www.LiveNation.com.








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