Directorate Change

Capital & Regional PLC
24 July 2003

                                                                    24 July 2003


                             CAPITAL & REGIONAL PLC
                  APPOINTS ADDITIONAL NON-EXECUTIVE DIRECTORS


Capital & Regional plc, the co-investing property asset manager, has appointed
two additional independent non-executive directors:  Hans Mautner and Paul
Stobart.


Hans Mautner is President - International Division and an Advisory Director of
Simon Property Group Inc. ("Simon"), the world's largest publicly traded retail
real estate company.  From 1998 until May 2003 he was Vice-Chairman of Simon,
following its acquisition of Corporate Property Investors Inc., of which Mr
Mautner had been chairman and chief executive. He had previously been a general
partner of the US investment bank Lazard Freres.


Paul Stobart is the Managing Director-UK of Sage Group plc ("Sage"), the FTSE100
group with a market leading position in the provision of business management
software and related products and services to small and medium sized businesses
throughout Europe and North America.  Prior to joining Sage in 1996 he had been
UK Managing Director of the leading brand consultancy Interbrand Limited. He had
previously qualified as an accountant at Price Waterhouse and worked at the
merchant bank Hill Samuel Limited, both in London and New York.


Mr Stobart has also been appointed chairman of Capital & Regional's audit
committee.


Tom Chandos, the Chairman of Capital & Regional, said: "We are delighted that
Hans Mautner and Paul Stobart have joined the board of Capital & Regional.  They
bring an exceptional combination of skills and experience from which the company
can benefit."


                                    - ENDS -


For further information:

Capital & Regional plc                                Tel:  [phone]

Tom Chandos - Chairman
Martin Barber - Chief Executive


Hudson Sandler

Michael Sandler / Andrew Hayes                        Tel:  [phone]


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