Acquisition

Capital & Regional plc
13 April 2004


                                                                  13 April 2004



                            CAPITAL & REGIONAL PLC:

     THE JUNCTION ACQUIRES THE COURTS' FREEHOLD UNIT AT THURROCK RETAIL PARK 
                                  FOR £12.8M

Capital & Regional plc, the co-investing property asset manager, today announces
that The Junction Limited Partnership ("The Junction") has purchased the
freehold of the Courts unit at Thurrock for £12.82 million from Standard Life
Investments.

The 4,645 sq m (50,000 sq ft) purpose built retail warehouse unit is let to
Courts PLC on an FRI lease until 2012.  The current rental of £750,000 per
annum, equating to £15 per sq ft, is reversionary and subject to an upward only
rent review in 2007.

The purchase provides an initial yield of 5.75% per annum and an anticipated
reversionary yield of 6.1%pa.

Andy Lewis-Pratt, CEO of The Junction commenting on the purchase said:

"This is an important purchase of the gateway site and building at the existing
entrance to our retail park estate at Thurrock. This takes our ownership here to
over 500,000 sq ft of openly consented retail warehouse floor space. This
acquisition increases the options available to us and our professional team to
improve access and circulation within our master plan for eventual integration
of these holdings into a single regional destination retail park."

Standard Life was represented by Edgerley Simpson Howe & Partners, Montagu Evans
advised The Junction.
                                    - ENDS -


For further information:



Capital & Regional plc
Martin Barber, Chief Executive, Capital & Regional       Tel:  [phone]
Andrew Lewis-Pratt, Chief Executive, The Junction        Tel:  [phone]
William Sunnucks, Group Finance Director                 Tel: [phone]



Redwood Consulting
Kate Hewson/Lucy Close                                   Tel: [phone]

Hudson Sandler
Andrew Hayes / James Benjamin                            Tel:  [phone]



Notes to Editors:

About Capital & Regional plc

Capital & Regional is the co-investing asset manager which specialises in town
centre shopping centres, out of town retail parks, and urban entertainment
complexes.  It founded the Mall and Junction Limited Partnerships in conjunction
with Morley Fund Management.  Its shares are quoted on the London Stock
Exchange, and in addition to its management contract with and co-investment in
the Mall and Junction funds, it now runs the X-Leisure Fund and has a number of
other joint ventures and developments.

For further information:  www.capreg.com


About The Junction

The Junction is the brand name used by The Junction Limited Partnership,
established by Morley Fund Management and Capital & Regional plc to own and
operate destination retail parks throughout the UK.  The Junction has assets of
over £800 million in 16 retail parks.

For further information visit:  www.thejunction-uk.com




                      This information is provided by RNS
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