Stmnt re Greenwich Peninsula

Quintain Estates & Development PLC
12 February 2001


STATEMENT REGARDING
GREENWICH PENINSULA

A consortium including Quintain Estates and Development plc, Grosvenor, Lend
Lease plc and Stanhope plc, today issued the following statement:

'We have for some time been looking at the development potential for the wider
Greenwich peninsula.

'Last week, the consortium was invited by Legacy to examine their proposals for
the Dome and associated land.  On behalf of the consortium, Quintain Estates and
Development plc carried out a detailed assessment.

'The assessment has now been concluded and the consortium has decided not to
enter into negotiations to become a partner with Legacy.

'The consortium remains committed to the future regeneration of the peninsula
and to the best long-term use for the Dome'.

Contact:

* Jonny Popper, London Communications Agency, 020 7479 2830 or
  07771-735000.

* Robert Gordon Clark, London Communications Agency, 020 7479 2830 or 07973-    
  148238.