Disposal

Quintain Estates & Development PLC
14 September 2005


14 September 2005


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

                 QUINTAIN SELLS ANGLIA SQUARE SHOPPING CENTRE,
                              NORWICH FOR £23.75M

Quintain Estates and Development announces that it has exchanged contracts on
the sale of the freehold interest in Anglia Square Shopping Centre to LagMar
Properties, a private property company, for £23.75m. The sale price reflects a
net initial yield of 6%.


Anglia Square provides 300,000 sq ft of accommodation across 37 retail units
together with a nightclub, cinema and 750 space multi-storey car park. Current
tenants include Boots, Budgens, Iceland, Baker's Oven and NCP. The property also
includes two vacant office buildings and two potential redevelopment sites that
are currently used for surface car parking. The current rental income on the
centre is £1.5m per annum.


The sale will show a profit over valuation in Quintain's books of about £2.4m
and a profit over cost of around £13m.


Commenting on the disposal, James Hamilton Stubber, Quintain's Business
Development Director, said:


'This transaction continues our strategy of recycling our capital out of assets
which do not have the short to medium prospects we are looking for. In the last
18 months we have sold in excess of £300m of investments, two thirds of which
were retail and with an average yield below 6%.'


GVA Grimley acted on behalf of Quintain. BTW Shiells acted on behalf of LagMar.


                                    - Ends-

For further information, please contact:


Quintain

Rebecca Worthington/James Hamilton Stubber
Tel: [phone]



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






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