Disposal

Capital & Regional PLC
7 December 2000

                     
                                                                              
                CAPITAL & REGIONAL SELLS INDUSTRIAL PORTFOLIO                 
                          TO GERTNER FAMILY FOR £90M                          

Capital & Regional plc, the specialist retail and leisure property investment
company, today announces that it has exchanged contracts for the sale of
twelve industrial properties owned by its 75% subsidiary Easter Capital
Investment Holdings Limited for a total consideration of £90.3 million cash to
an investment company of the Gertner Family.  The proceeds will be used to
reduce borrowing.

The three million sq ft portfolio comprises properties situated predominantly
in the North West and Wales.  These include Severn Bridge Industrial Estate,
Caldicot; Court Road and Springvale in Cwmbran; Nine Mile Point, Cwmfelinfach;
Deeside Industrial Estate; Europa Industrial Estate, Kearsley; Astmoor and
Manor Park in Runcorn, Cheney Manor, Swindon; Hay Hall Works, Tyseley,
Birmingham; North Cheshire Trading Estate, Wirral; Wrexham Industrial Estate.

Commenting on the disposal, Martin Barber, Chief Executive of Capital &
Regional said:

'We are pleased to have completed the sale of a large portion of our
industrial property investment portfolio.  This allows us to concentrate
further our resources into our core business of retail and leisure properties.
 The disposal of the remaining industrial properties will be completed in due
course.'

Commenting on the acquisition on behalf of the purchasers, Michael Biddle of
Angermann Goddard & Lloyd said:

'This portfolio represents a unique opportunity to enhance values and rental
income by selective active asset management.  Fordgate will manage the
portfolio.'

Easter Capital Investment Holdings Limited was advised in the sale by Egan
Lawson and the Gertner Family by Angermann Goddard & Lloyd.


For further information please contact:

Martin Barber, Chief Executive, Capital & Regional       0207 932 8000
Lynda Coral, Financial Director, Capital & Regional      0207 932 8000
Sarah Carrell, Corporate Communications, 
Capital & Regional                                       0207 932 8000
Michael Biddle, Angermann Goddard & Lloyd                0207 465 5103