Director Shareholding

Capital & Regional PLC
14 January 2003

The independent trustee of the Capital & Regional plc Employee Share Ownership
Trust notified the Company on 14th January 2003 that it has on the 14th January
2003 purchased 24,000 ordinary shares at a price of £3.13 per ordinary share, to
hold the shares for delivery to the participants eligible to participate in the
Company's Long Term Incentive Plan.

Following the transaction, the independent trustee holds a total of 524,000
ordinary shares.

The following executive directors, together with other employees, are potential
beneficiaries and are therefore treated as having interest: Mr M Barber, Mr X
Pullen, Mr W Sunnucks, Mr K Ford, and Mr A Lewis-Pratt.


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