Disposal Completed

Capital & Regional PLC
31 July 2000


                                                                              
                           CAPITAL & REGIONAL SELLS                           
                       BICESTER SHOPPING CENTRE FOR £7M                       

Capital & Regional plc, the specialist retail and leisure property company,
today announces that it has completed the sale of Crown Walk Shopping Centre,
Bicester, Oxfordshire to a private property company, for a total consideration
of £7 million, at a net initial yield of approximately 8%.

The property comprises approximately 45,000 sq ft of retail space in twenty
three units, together with a 91 space public car park.  The retail units are
fully let to tenants including Adams Childrenswear, H Samuel, Boots Opticians,
Lunn Poly, Thomas Cook and Powerhouse.  Approximately 70% of the £590,000
income per annum, is received from multiple tenants and Zone A rents range
from £18.00 to £41.00 per sq ft.

Martin Barber, Chairman of Capital & Regional commented:

'We are pleased to have disposed of this small in-town centre, which has shown
good performance since our purchase in February 1998.  We continue our focus
on the core strategic areas of larger, dominant in-town centres and
out-of-town retail and leisure properties, where we believe Capital & Regional
can add value through their management approach.'

Capital & Regional was represented by Strutt & Parker and the purchaser by
Hoddell Stotesbury.

                                                           


For further information please contact:

Martin Barber, Chairman, Capital & Regional                     0207 932 8000
Sarah Carrell, Corporate Communications, Capital & Regional     0207 932 8000