London Theatre Portfolio Sold for £18m

Quintain Estates & Development PLC
14 February 2000


       QUINTAIN SELLS LONDON THEATRE PORTFOLIO FOR £18m

Quintain  Estates and Development PLC, the property investment
group, today announces that it has entered into a put and call
option  of  the  sale of the Crescent theatre  and  investment
portfolio to the Ambassador Theatre Group for £18m cash.   The
options are exercisable on or before 4th April 2000.  The sale
price  is in excess of book cost and proceeds will be used  to
repay borrowings.

The  portfolio of seven theatres include the Donmar Warehouse,
the  Albery  and  Wyndhams, the Comedy, the  Pheonix  and  the
Piccadilly Theatres.

Quintain  acquired the theatres following  its  take  over  of
Chesterfield Properties PLC in July 1999.




For further information, contact:

Nick Shattock, Director, Quintain           Tel: [phone]
Baron Phillips, Bankside Consultants        Tel: [phone]

Notes to editors:
The portfolio of sever theatres are:
     Albery and Wyndhams Theatres, St Martins Lane
     Comedy Theatre, Panton Street
     Phoenix Theatre, Charing Cross Road
     Piccadilly Theatre, Denman Street
     Whitehall Theatre, Whitehall
     Donmar Warehouse, Neals Yard