Development Agreement

Quintain Estates & Development PLC
20 December 2006


20 December 2006



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


 QUANTUM SIGNS DEVELOPMENT AGREEMENT FOR SCIENCE AND TECHNOLOGY PARK AT BRISTOL


Quintain is pleased to announce that Quantum Property Partnership ('Quantum'),
the Company's 50/50 specialist science park joint venture with Morley Fund
Management ('Morley'), has entered into a development agreement with the South
West of England Regional Development Agency to create a new science and
technology park, SPark, at Emerson's Green, Bristol.

Quantum will fund and procure primary infrastructure and associated servicing
for the first 22 hectare phase of SPark. This will include building a 3,200 sq m
innovation centre which will act as the hub building on the park and an initial
'grow on' centre which will provide additional space for companies as they
expand. Further development will be market led over the ten year duration of the
agreement, with Quantum retaining and managing a critical mass of accommodation
on the park on a long term basis. When fully built out, the first phase is
estimated to have a gross development value of approximately £200 million.
Quantum's initial investment is estimated to be £26m. Quintain will provide 50%
of the funding for the development, subject to an overall cap of £100m.

SPark is a partnership between the South West Regional Development Agency
('South West RDA') and the Universities of Bristol, Bath and the West of
England. Outline planning consent has already been granted for a total of 77,000
sq m of science and technology related space on the 22 hectares of land owned by
South West RDA between the M4 and the Avon ring road at Emerson's Green on
Bristol's north fringe.

Subject to detailed planning permission being granted, construction work is
expected to start on site in autumn 2007 with the first buildings available for
occupation in late summer 2008.

Quintain is also pleased to announce that it has entered into formal partnership
agreement with Morley in respect of Quantum.

Commenting on behalf of Quantum, Tonianne Dwyer, an Executive Director of
Quintain and Head of Quintain's Fund Management Division, said: 'The signing of
the SPark agreement represents an important step in the development of the
Quantum fund. This project will transform the provision of specialist
accommodation for science and technology companies in the Bristol area and we
are delighted to be moving forward in partnership with South West RDA and the
three universities .'


For further information, please contact:

Quintain
Tonianne Dwyer / Rebecca Worthington
Tel: [phone]

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


NOTES TO EDITORS

Quintain Estates and Development PLC

Quintain is a leading property investment and development company specialising
in strategic property acquisition, redevelopment, asset management and
regeneration across the UK. Quintain is responsible for the regeneration of 70
acres of land surrounding the new Wembley Stadium and, with their partner Lend
Lease, Quintain is also leading the £5bn regeneration of the Greenwich
Peninsula. Current land holdings also include 65 acres at Emerson's Green East
where Quintain is working to bring forward a major residential led mixed use
scheme.

Quintain and Morley have been working together since 1998 on the Quercus
Healthcare Property Partnership which invests in nursing homes, specialist
nursing and learning disability facilities and private hospitals. Quercus
currently has over £530m assets under management in the UK.

Quintain is listed on the London Stock Exchange and is a member of the FTSE 250.






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