Disposal of Interest

Capital & Regional PLC
16 June 2000


CAPITAL & REGIONAL SELLS ITS HOLDING IN CENTERPOINT PROPERTIES TRUST

Capital & Regional plc, the specialist retail and leisure property company,
announces that it has sold its entire holding of 1,008,478 shares in its
former subsidiary CenterPoint Properties Trust.  The shares were sold to a
number of institutional investors at an average price of $37.60 per share
which compares to the flotation price in 1993 of $18.25.  The total net
proceeds are $37,842,000 (£25,226,000).

Martin Barber, Chairman of Capital & Regional, commented:  'Our investments in
America have been extremely successful and CenterPoint is now regarded as one
of the best managed REITs in the USA.  This disposal in no way reflects
adversely on that fine company but continues the emphasis on focus that
Capital & Regional is pursuing'.

For further information please contact:

Martin Barber, Capital & Regional  plc                     020 7932 8000
Lynda Coral, Financial Director, Capital & Regional        020 7932 8000