Lend Lease Europe Limited and Quintain Estates & Development plc announce the sale of the share capital in their joint venture Meridian Delta Dome Limited (MDDL) to Trinity College Cambridge for £24 million. They continue to own and manage the regeneration of the surrounding 150 acres through the Greenwich Peninsula Regeneration Ltd (GPRL) joint venture.

MDDL has the benefit of a 999 year lease of the land on which the former Millennium Dome sits, together with the surrounding land. By purchasing MDDL, Trinity College will also have the benefit of the rental income paid by AEG via its under-lease of The O2 Arena. This rental income is linked to ticket sales and in the last calendar year this amounted to £1.5m.

AEG invested £350m in transforming the Millennium Dome into The O2. The sale of MDDL does not affect AEG’s lease or their continued operation of The O2, which has the highest ticket sales of any venue in the world. Rory Landman, Senior Bursar of Trinity College said:

"The College is very pleased to have had the opportunity to make an investment in the site of The O2 with its position in London’s largest regeneration project. The purchase of the site fits well with the long term investment strategy of the College. The long term income stream from this and Trinity’s other property investments helps secure the future of world-class education and research at Trinity College and in the University of Cambridge. AEG holds a long lease of the site and it will therefore be business as usual for the Arena, with AEG Europe continuing to run all events and facilities." Lend Lease and Quintain formed MDDL to hold the 999 year reversionary lease of the Millennium Dome in 2002, when they also acquired the right to develop the wider scheme at Greenwich Peninsula. They are now transforming the Peninsula into a 14.1m sq ft new district for London comprising commercial, academic, retail and residential buildings. With The O2 now an international success, the objectives of the original acquisition have been achieved and the proceeds from the disposal will unlock funds that can be invested by GPRL in the further development of Greenwich Peninsula. Nick Shattock, Deputy Chief Executive of Quintain, said: "In 2002 we took on the remains of the Millennium Dome, complete with its damaged reputation and lack of surrounding attractions. Seven years on, this is now the most iconic and popular entertainment venue in the world, attracting 8 million people a year and featuring the biggest names in music and sport. The joint venture has achieved its objective of placemaking and the disposal of these shares is a pragmatic move to unlock funds that can be re-invested in the further development of Greenwich Peninsula." Dan Labbad, Chief Executive Officer of Lend Lease Europe Limited, said: "Our objective with the Dome was to create the kind of value that would help to fund the regeneration of the surrounding area, and this has been achieved. The money released by this disposal will move the development of the surrounding regeneration scheme forward, building on the success of the recently opened office development and re-location of Ravensbourne College to the Peninsula." David Campbell, Chief Executive of AEG Europe, said: "AEG Europe has worked hard for the last two years to turn The O2 into a London landmark and world-renowned entertainment venue. We look forward to welcoming Trinity College, Cambridge as our new landlord and the use of the funds released by the disposal to further the regeneration of the Peninsula." ENDS NOTES TO EDITORS For further information about the Greenwich Peninsula, contact • Kate Fisher, London Communications Agency, 020 7612 8480 kf@londoncommunications.co.uk Greenwich Peninsula The £5 billion regeneration of Greenwich Peninsula is led by Lend Lease and Quintain working in collaboration with the Homes and Communities Agency – a true public private partnership. The scheme will create a thriving new riverside community for London over the next 15 years. • 10,000 new homes in distinct residential neighbourhoods • 24,000 permanent jobs • Peninsula Central - a new business district for London • 150 new shops and restaurants • 1.6 miles of river frontage; the distance between Waterloo and London Bridge • 48 acres of open spaces and parks; the size of Green Park • Extensive new community and leisure facilities • The O2 entertainment destination delivered and operated by AEG Europe • Excellent transport links, situated in zone 2 on the jubilee line • Aspiration for the highest environmental standards for new buildings www.greenwichpeninsula.co.uk Lend Lease Lend Lease, listed on the Australian Stock Exchange, is a leading real estate specialist which creates and manages real estates assets around the world. In the UK its business is focussed primarily in the delivery of large scale mixed use schemes which lead to the regeneration of major urban sites. www.lendlease.com Quintain Quintain creates value from property, operating through three businesses: fund management, property investment and urban regeneration. Quintain is listed on the London Stock Exchange. www.quintain.co.uk Trinity College, Cambridge Trinity College was founded by Henry VIII in 1546 and is now the largest college in the University of Cambridge, being home to around 600 undergraduates, 300 graduates, and over 160 Fellows. Students attend from all over the world as well as from all kinds of different schools in the United Kingdom. In addition to providing for the needs of the College, Trinity's income is applied in support of students, teaching and research in other Colleges and in the wider University. AEG AEG, owner of The O2 owns or operates some of owns or operates some of the world's best arenas and theatres, numerous sports franchises including the Los Angeles Kings (NHL) and The David Beckham Academy, and a collection of companies dedicated to producing, promoting and presenting world- class liver entertainment. List of Advisers Advisers to Trinity College Bidwells LLP Lawyers for Trinity College Mills & Reeve LLP Advisers to Lend Lease Europe Michael Elliott Advisers to Lend Lease Europe and Quintain Savills Lawyers for Lend Lease Europe and Quintain Clifford Chance LLP