Acquisition

Capital & Regional plc
15 November 2005

                                                                15 November 2005



                             CAPITAL & REGIONAL PLC

                   ACQUIRES £96 MILLION TRADE PARK PORTFOLIO



Capital & Regional plc, the co-investing property asset manager, has today
announced its purchase of the T3 trade park portfolio from AXA and Warner Estate
(Ashtenne) for £96 million, reflecting a net initial yield of 5.25%.  The
portfolio comprises 23 trade parks located nationwide from Plymouth to Aberdeen
and 10 Industrial Estates.



Senior debt is being provided by Euro Hypo with the balance being provided from
Capital & Regional's own resources.



Andrew Lewis-Pratt, Director of Capital & Regional plc, comments,

"This purchase represents a unique opportunity for us to invest in a niche
retail based sector which is currently fragmented and unsophisticated.  It
therefore offers exciting opportunities for us to utilise our specialised skills
to maximise its potential".



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.

Capital & Regional founded the Mall and Junction Funds in conjunction with
Morley Fund Management.  It also founded the X-Leisure fund with Hermes
Investment Management Limited, and has a number of other joint ventures and
developments.  Its shares are quoted on the London Stock Exchange.

For further information see www.capreg.com



                                    - ENDS -

For further information:
Capital & Regional
Martin Barber, Chief Executive                             Tel.  [phone]
Andrew Lewis-Pratt                                         Tel:  [phone]

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

Hudson Sandler
Michael Sandler                                            Tel:  [phone]
James Benjamin                                             Tel:  [phone]




                      This information is provided by RNS
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