Converting NTSC to PAL using Avid - Help!

I have an NTSC project that I need to convert to PAL. Does anybody have any idea how to do this in the Avid, keeping quality as high as possible please?

I tried exporting an uncompressed QuickTime movie from an NTSC project and then importing it into PAL, but the image degradation seems quite severe. I know you need to blow-up NTSC for it to fill the PAL frame (NTSC being 720x486 and PAL being 720x576) but the lower quality in the PAL version is really quite marked.

Any ideas guys? This is quite desperate.