Holding(s) in Company

Quintain Estates & Development PLC
19 February 2002


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     QUINTAIN ESTATES AND DEVELOPMENT PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     CGNU PLC

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

     NOTIFICATION IS IN RESPECT OF THE SHAREHOLDER MENTIONED IN (2) ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

     MORLEY FUND MANAGEMENT LIMITED (SUBSIDIARY OF CGNU PLC)
     
5)   Number of shares/amount of stock acquired.


6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     1,771,209

8)   ( 1.38% ) of issued Class

9)   Class of security

     ORDINARY SHARES

10)  Date of transaction


11)  Date company informed

     19.02.2002

12)  Total holding following this notification

     5,547,714
               
13)  Total percentage holding of issued class following this notification

     4.33%

14)  Any additional information

     PLEASE SEE LETTER BELOW FOR MORE INFORMATION

15)  Name of contact and telephone number for queries

     SUSAN MINOCHA
     020 7495 8968

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification  19 FEBRUARY 2002



Letter to: Quintain Estates & Development plc

Dated 18 February 2002


QUINTAIN ESTATES & DEVELOPMENT PLC (THE 'COMPANY') - SEDOL 0718444

This notification supersedes our previous notification to you dated 12 October
2001 and is prompted by sales totalling 1,293,000 on 15 February 2002.

This notification relates to issued ordinary shares of GBP0.25 each in the
capital of the Company (the 'shares') and is given in fulfilment of the
obligations imposed by sections 198 to 202 of the Companies Act 1985 (the
'Act').

1.    Notification on behalf of Morley Fund Management Limited (a subsidiary of
      CGNU Plc).

1.1   We hereby notify you on behalf of Morley Fund Management Limited that     
      immediately after the time when the obligation to make this notification
      arose Morley Fund Management Limited were interested in 5,547,714 shares.

1.2   The identity of the registered holders of the shares to which this
      notification relates and the number of shares held by each of them are set
      out in the Appendix below: Money Fund Management Limited.

2.    Notification on behalf of CGNU plc.

2.1   We hereby notify you on behalf of CGNU plc that immediately after the time
      when the obligation to make this notification arose CGNU plc were
      interested in 5,547,714 shares giving the CGNU group a total percentage
      interest in the shares of 4.33%.

2.2   The identity of the registered holders of the shares to which this
      notification relates and the number of shares held by each of them are set
      out in the Appendix below: CGNU plc.

If you require further information as to which companies in the CGNU group hold
interests in the shares (by virtue of s.203 of the Act) please submit a written
request and we will be happy to supply this information.

We are only required to notify interests which are defined as material interests
when the holding is equal to 3% or more of the Company's relevant share capital.
The term material interests exclude certain categories where we do not hold a
beneficial interest, for example where the shares are held in an Authorised Unit
Trust Scheme or Open Ended Investment Company. Holdings in those categories are
therefore not included in the holding notified under this letter. If you wish us
to confirm the level of holdings in these categories, please let us know.

Letter from: CGNU PLC



APPENDIX: MORLEY FUND MANAGEMENT LIMITED 

REGISTERED HOLDERS                  NUMBER OF SHARES HELD

BNY Norwich Union Nominees Ltd      1,439,312  (Material) 
Chase GA Group Nominees Ltd         2,564,791  (Material) 
CUIM Nominee Ltd                    1,543,611  (Material)


TOTAL PERCENTAGE INTEREST OF MORLEY FUND MANAGEMENT LIMITED: 4.33% 

ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 128,117,082


 
APPENDIX: CGNU PLC 

REGISTERED HOLDERS                  NUMBER OF SHARES HELD

BNY Norwich Union Nominees Ltd      1,439,312  (Material) 
Chase GA Group Nominees Ltd         2,564,791  (Material) 
CUIM Nominee Ltd                    1,543,611  (Material)


TOTAL PERCENTAGE INTEREST OF CGNU PLC: 4.33% 

ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED: 128,117,082


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