Director Shareholding

Capital & Regional plc
15 August 2006

NOTIFICATION OF INTEREST UNDER SECTION 324 OF THE COMPANIES ACT 1985



The Company has today received notification under Section 324 of the Companies
Act 1985 of the following Directors' interests in Ordinary shares of 10p each in
Capital & Regional plc:



The following directors participated in a conversion of the Company's 6.75%
Convertible Subordinated Unsecured Loan Stock ("CULS") and received the number
of shares listed below.



The current rate of conversion is £5.142 in nominal amount of ordinary share
capital of the Company for every £100 nominal of Loan Stock converted.




Beneficial      Registered Holder  Number of CULS  Number of      Date Shares    Revised Holding
Holder                             Converted       Shares         Received
                                                   Received



Martin Barber   Martin Barber      £32,633         16,779         14/08/06       2,325,679




Xavier Pullen   Xavier Pullen      £23,180         11,919         14/08/06       1,101,910




Tom Chandos     Tom Chandos        £5,000          2,571          14/08/06       40,071









Following the conversion none of the above directors will have any interest left
in the Company's CULS.







END




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