Planning consent at Wembley

Quintain Estates & Development PLC
21 August 2007

21 August 2007



        Quintain Estates & Development PLC ('Quintain' or the 'Company')


                   QUINTAIN WINS DETAILED PLANNING PERMISSION
                      FOR MAJOR MIXED-USE PLOT AT WEMBLEY


Quintain Estates and Development PLC has been granted detailed planning
permission by the London Borough of Brent, the local planning authority, for a
major 615,192 sq ft (57,174 sq metre) mixed-use building at Wembley.  This is
the fifth major detailed planning consent obtained by the Company for its 6.3
million sq ft (585,000 sq m) development.

The new 10 storey building will adjoin Wembley Arena and face Wembley Stadium.
It will combine a 441 bed Hilton International Hotel, including a business
centre, function suite and healthclub, with a 656 bed student halls of
residence, five affordable housing units, 86,080 sq ft, (8,000 sq m) of retail
space including food and drink outlets, as well as elements of the planned
150,000 sq ft designer outlet space (13,940 sq m), parking for 226 vehicles and
398 bicycles, and communal landscaped areas and open space.

The hotel was designed by The Manser Practice and will benefit from the
transference of guests and business currently managed by the Wembley Plaza. The
student accommodation was designed by PRP Architects and the retail facilities
by Leslie Jones.

The student halls of residence will be owned by Quintain's student accommodation
fund, iQ, a joint venture between Quintain and The Wellcome Trust.  iQ already
owns and operates student accommodation throughout the UK.

Construction of the project is planned to commence in late 2007, with completion
during the summer of 2010.  The current estimated GDV of the combined building
is £230m.

Nick Shattock, Deputy Chief Executive of Quintain, commented:

'Another major detailed consent, our fifth, takes us further forward in
delivering a dynamic fusion of retail, entertainment and living at Wembley.  A
luxury hotel will play a vital part in serving Arena and Stadium visitors, as
well as reinforcing Wembley's conferencing credentials.  The student
accommodation will ensure the scheme quickly becomes populated and also reflects
the synergies inherent between Quintain's development and Fund Management
businesses.'


                                      ENDS





For further information, please contact:

Quintain
Nick Shattock
Tel: [phone]


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





Notes to Editors

Quintain Estates and Development plc is a leading property investment and
development company, listed on the London Stock Exchange.

Quintain has three areas of focus: Fund Management; Investment Portfolio; and
Special Projects, which consists of the Company's larger and typically complex
assets - such as Wembley - that gain returns from planning and development
opportunities.

Wembley

Quintain's Wembley development involves the transformation of the 72 acres of
land surrounding Wembley Stadium into a mixed-use development. Transposed onto
central London, this regeneration site would cover Trafalgar Square, Leicester
Square, Covent Garden, and all the land in between.

Planning consent has been provided for 6.2 million sq ft (576,000 sq m) of
residential, retail, commercial and leisure space on 59 acres, with potential
for up to a further 2 million sq ft on an adjoining 13 acres, totalling almost
8.5 million sq ft (789,600 sq m). The result will be the creation of an urban
environment that will dramatically enhance the experience of those visiting the
National Stadium and the world famous Wembley Arena.

Masterplanned by Lord Rogers, the £2.3 billion development will create
approximately 7,000 new jobs and 4,200 new homes.

In addition to Wembley, Quintain is involved in a variety of projects across the
UK, including the regeneration of the 190-acre (8,276,400 sq ft / 769,182 sq m)
Greenwich Peninsula site, a 900,000 sq ft (83,600 sq m) zero-carbon development
at Middlehaven under the Bioregional Quintain brand, and a 1 million sq ft
(92,900 sq m) mixed use development at City Park Gate, Birmingham.

Quintain Fund Management ('QFM') was created to invest alongside partners in
niche sectors where specialist asset management can deliver attractive returns
and stable long term fee income.  As at 31 March 2007, QFM's assets under
management totalled £711 million through its two partnerships with Morley Fund
Management - Quercus, its healthcare fund, and Quantum, a science park fund, and
iQ, its student accommodation fund with The Wellcome Trust.

iQ has schemes operating in Sheffield and Nottingham and will complete shortly
on schemes in Brimingham and Salford.  Further schemes in Preston, Bristol,
Kingston, Edinburgh and Sheffield are under construction.  When completed these
schemes, along with the scheme at Wembley, will have a combined value of over
£250 million.












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