Acquisition

Capital & Regional PLC
31 March 2003


Capital & Regional plc sets out below a Press Release issued by The Mall, the
community shopping centre fund it manages:


                                                                   31 March 2003

                      PRUDENTIAL INVESTS £31.2 MILLION OF

                           EQUITY IN TO THE MALL FUND


The Mall today announced the closing of a deal that sees Prudential investing
£31.2 million in The Mall Fund. The Fund started in 2002 and was established by
clients of Morley Fund Management and Capital &Regional plc to own and operate
community shopping centres under The Mall brand, throughout the UK.  The Mall
Fund has assets of approximately £939M in 13 shopping centres and has plans to
grow assets to £2bn in up to 30 locations.

This investment by Prudential was simultaneous with the sale of its 50% interest
in the Gracechurch Shopping Centre in Sutton Coldfield to The Mall Limited
Partnership.


                                     -ends-


For further enquires, please contact:

Ken Ford, Chief Executive of The Mall  - 020 7592 9000


                      This information is provided by RNS
            The company news service from the London Stock Exchange