Quintain Estates & Development PLC 23 January 2006 23 January 2006 Quintain Estates and Development PLC ("Quintain"/ the "Company") LIVE NATION TO MANAGE WEMBLEY ARENA The board of Quintain is pleased to announce that its subsidiary, Wembley London Limited, has signed a 15 year contract with Los Angeles-based promoter Live Nation to take over the operational management of Wembley Arena. Live Nation owns or operates 150 venues around the world and, in 2005, promoted over 20,000 events attended by 60 million people. Wembley Arena will re-open in April 2006 after a £35 million refurbishment programme. Every aspect of the venue has been improved, including the realignment of the main entrance of the Arena onto the newly created Arena Square, a £10 million public realm development. Reservations for 175 nights have already been secured, with tickets for 37 shows already on sale including Il Divo, Take That, Depeche Mode, Santana, Westlife and Cliff Richard. Nick Shattock, Quintain's Property Director, commented: "The redevelopment of Wembley Arena will consolidate its position as one of the most prestigious live entertainment venues in Europe. By signing this management agreement with Live Nation, one of the world's leading live content and distribution companies, we are confident that Wembley will play host to extremely high-quality shows, as demonstrated by the strong line-up already secured." Michael Rapino, Chief Executive Officer of Live Nation, said: "Wembley Arena is one of the great icons of international touring. We are honoured to enter this long-standing partnership and look forward to offering the most spectacular live entertainment experiences to British music fans." This announcement is further evidence of the momentum behind Quintain's 6.2 million sq ft regeneration project around the new Wembley Stadium. Live Nation joins a list of commercial partners including Caesar's Entertainment for the intended casino and Hilton, who will run a business-class hotel on the site. Quintain is also pleased to report that planning consent has this week been granted for the first of the residential apartment developments, due for completion in 2007. Nick Shattock added: "Our plans for the regeneration of Wembley are now accelerating, as we begin to see strong progress on the residential, leisure and Arena elements of the overall scheme." -ends- For further information, please contact: Quintain Nick Shattock/Rebecca Worthington Tel: 020 7495 8968 Financial Dynamics Stephanie Highett/ Dido Laurimore Tel: 020 7831 3113 Notes to Editors • Quintain Estates and Development PLC is a leading property investment and development company specialising in strategic property acquisition, redevelopment and asset management across the UK. It is currently leading the regeneration of Wembley, with permission for a £2bn transformation of the land surrounding Wembley stadium. With Partners Lend Lease, Quintain is also leading the £5bn regeneration of the Greenwich Peninsula. The company is listed in the FTSE 250. www.quintain-estates.com • Live Nation is a leading live content and distribution company focused on creating superior experiences for artists, performers, corporations and fans. Live Nation owns, operates or has booking rights for 150 venues worldwide and promoted or produced over 20,000 events in 2005. Live Nation is headquartered in Los Angeles, California. Live Nation is listed on the New York Stock Exchange, trading under the symbol "LYV." More information about Live Nation and its businesses is available at www.LiveNation.com. This information is provided by RNS The company news service from the London Stock Exchange