Holding(s) in Company

Quarto Group Inc
17 January 2003


                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     THE QUARTO GROUP, INC.

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     PETER CUNDHILL & ASSOCIATES (BERMUDA) LTD.

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

     IN RESPECT OF 2 ABOVE

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

     CHASE NOMINEES LIMITED

5)   Number of shares/amount of stock acquired.

     225,000

6)   (1.20%) of issued Class

7)   Number of shares/amount of stock disposed

     N/A

8)   (N/A%) of issued Class

9)   Class of security

     SHARES OF COMMON STOCK OF US$0.10 EACH

10)  Date of transaction

     09-JAN-03

11)  Date company informed

     13-JAN-03

12)  Total holding following this notification

     775,000
               
13)  Total percentage holding of issued class following this notification

     4.15%

14)  Any additional information



15)  Name of contact and telephone number for queries

     MR. T.A. CURTHOYS    
     TEL: [phone]

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

     Date of Notification .....17/01/03...................


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